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All the statistics, trends and market data you need on NFTs.
Estimated reading time: 2 min
Due to the potential for losses, the Financial Conduct Authority (FCA) considers this investment to be high risk.
What are the key risks?
1. You could lose all the money you invest
- The performance of most cryptoassets can be highly volatile, with their value dropping as quickly as it can rise. You should be prepared to lose all the money you invest in cryptoassets.
- The cryptoasset market is largely unregulated. There is a risk of losing money or any cryptoassets you purchase due to risks such as cyber-attacks, financial crime and firm failure.
2. You should not expect to be protected if something goes wrong
- The Financial Services Compensation Scheme (FSCS) doesn't protect this type of investment because it's not a 'specified investment' under the UK regulatory regime – in other words, this type of investment isn't recognised as the sort of investment that the FSCS can protect. Learn more by using the FSCS investment protection checker.
- The Financial Ombudsman Service (FOS) will not be able to consider complaints related to this firm or Protection from the Financial Ombudsman Service (FOS) does not cover poor investment performance. If you have a complaint against an FCA regulated firm, FOS may be able to consider it. Learn more about FOS protection here.
3. You may not be able to sell your investment when you want to
- There is no guarantee that investments in cryptoassets can be easily sold at any given time. The ability to sell a cryptoasset depends on various factors, including the supply and demand in the market at that time.
- Operational failings such as technology outages, cyber-attacks and comingling of funds could cause unwanted delay and you may be unable to sell your cryptoassets at the time you want.
4. Cryptoasset investments can be complex
- Investments in cryptoassets can be complex, making it difficult to understand the risks associated with the investment.
- You should do your own research before investing. If something sounds too good to be true, it probably is.
5. Don't put all your eggs in one basket
- Putting all your money into a single type of investment is risky. Spreading your money across different investments makes you less dependent on any one to do well.
- A good rule of thumb is not to invest more than 10% of your money in high-risk investments.
If you are interested in learning more about how to protect yourself, visit the FCA's website here.
For further information about cryptoassets, visit the FCA's website here.
Key British NFT adoption trends for September 2022 report
British NFT ownership
819.4K Brits own an NFT.
NFT adoption statistics in the UK
In the UK, 2% said they own an NFT when we polled in September 2022.
This is lower than the global average of 3% who say they own an NFT.India leads the way at 7%, with Germany at the other end of the spectrum with 1%.
Men in the UK more likely than women to own an NFT
In the UK aproximately 2% of men say they own an NFT compared to 1% of women.
There is a wide gap in adoption of NFTs between men and women. On average roughly 2% of women say they own an NFT globally, compared to 4% of men. India has the highest adoption of NFTs for men, with 8% of men saying they have bought the asset compared to Japan which has the lowest uptake among men at 1%. Vietnam has the most women who said they own an NFT, with 5% saying they’ve bought an NFT, compared to just 1% in Germany who said the same.
The gap in ownership between men and women is at its widest in United States, where 4% of men say they own NFTs, compared to 1% of women. The smallest gap in adoption of NFTs is in Japan, where 2% of women say they have an NFT compared to 1% of men.
Age trends for NFT ownership in the UK
Those aged 18-34 in the UK lead the way in terms of the NFT ownership, with 3% saying they have one or more NFTs. Those aged 55+ are the group least likely to own NFTs, making up just 1% owning an NFT.
Largest NFT marketplaces
OpenSea is by far the largest NFT marketplace with over US$10 billion in all-time sales (as of November 2021), which is over US$3.5 billion more in all-time sales than the rest of the top 10 marketplaces combined. Axie Infinity is second with US$3 billion sold, with CryptoPunks with US$1.6 billion.
After the top 3, the remaining marketplaces are all under US$1 billion. NBA Top Shot has sales of US$700 million, Solanart (US$500 million), Rarible (US$264 million), AtomicMarket (US$208 million), Superare.co (US$178 million), Foundation (US$104 million) and DigitalEyes Market (US$101 million) complete the top 10 marketplaces for NFTs.
|Largest NFT Market places||All time sales volume ($ million)|
|NBA Top Shot||728|
Most expensive NFT pieces ever sold
NFTs are bought using cryptocurrency and the CryptoPunk collection has 5 of the top 10 most expensive NFTs, bought using Ethereum. As of November 2021, the cheapest CryptoPunk sold in the 10,000 collection cost around 100 Ethereum (£334,000). “Everydays: the First 5000 Days” was bought in March 2021 and at the time was the most expensive NFT ever bought (US$69.3 million). This figure was “smashed” by CryptoPunk #9998 sale in October 2021 by over 667% (US$532 million).
“This Changed Everything WWW”, an artistic representation of the world wide web source code, was bought for US$5.43 million, making it the most expensive historical artifact sold by an NFT. Other charitable NFTs include “Save a Thousand Lives” which sold for US$5.23 million and Edward Snowden’s Stay Free document, which sold for US$5.4 million.
Scroll right on the timeline image below to see the most expensive NFTs of 2021.scroll leftscroll right
NFTs sold each month
The amount of NFTs sold a month on OpenSea has grown significantly in the second half of 2021, with sales in August alone being more than the first 7 months. Highlighting how popular NFTs became in 2021, there was an 18,148% increase in NFT sales from the first half of 2020 to the first half of 2021. Since January 2020, there has been an increase of over 7,300% in NFTs sold each month.
|Month||NFT sales per month|
NFT types by market distribution
Collectibles are the most popular form of NFTs with 76% of Q3 2021 sales, growing 10% from Q2. With collectibles such as CryptoPunk and Bored Yacht Ape being extremely popular, these forms of assets dominate the marketplace. Art-related NFTs are second at 9%, with Gaming (4%) and Utilities (4%), Metaverse (2%) and Sports (1%) completing the market.
|Type of NFT||Market percentage (Q3)||Market percentage (Q2)|
Popular NFT cryptocurrency tokens by market capitalisation
NFT networks are powered by blockchains and their (cryptocurrency) tokens are available to trade. As of 21 December 2021, Decentraland – a 3D virtual reality platform – tops the list of NFT crypto tokens, ranked by market capitalisation. The self-claimed one-stop shop for the very best digital assets has a token named MANA which has a market cap of 5.92 billion.
This is slightly higher than the market cap of the AXS token belonging to the well-known NFT-based online video game Axie Infinity. The Sandbox (SAND), THETA (THETA) and Tezos (XTZ) round up the top 5 NFT tokens ranked by the markets they belong to.
See a live chart of the tokens’ prices, market caps and fluctuations in value.
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