When it comes to NFTs, it’s been a rollercoaster ride in 2022. With many ups and downs in sales and records, we’re finally wrapping up the year with a recap of this year’s achievements in the NFT sector.
The NFT Fashion Era
According to the recent NFT Dune report, Fashion brands mostly dominated the industry by generating $245 million in sales. Among them, Nike ranks the highest as it recorded sales of around $184.31 million so far. Thanks to its acquisition of RTFKT, its metaverse shoes, and other wearable items got a big positive response.
Other brands like Gucci, Dolce & Gabbana, Tiffany & Co, Lacoste, and Adidas also ranked high in sales over the year.
Polygon has been achieving many milestones in 2022 by announcing partnerships with big leading brands like Disney, Coca-Cola, Starbucks, Reddit, Flipkart, and many more.
Although its sales don’t compete with Ethereum and Solana, the recent Nansen report shows it did climb up in terms of highest NFT holders. Over 180,000 holders have minted the 10 collections on Polygon while user traffic has also increased by 500% since this August.
According to a Bloomberg report, NFT sales dropped 89% in November from $5 billion in revenue gathered in January.
However, the hype and value of NFTs haven’t dropped over the years, instead more people joined the industry. 2023 might have something positive and bullish in store for us.