Most of the transactions involving non-fungible tokens (NFTs) were from retail buyers, according to data released by Chainalysis, CoinTelegraph reported.
- Over 80% of all NFT transactions worth less than $10,000 were recorded by researchers based on the on-chain data from January and October 2021. Such transactions were classified as “retail.”
- Collector-sized transactions worth between $10,000 and $100,000 rose to 19% by October from 6% in March, reflecting a growth in larger collectors as the year progressed.
- Institutional-sized transactions worth over $100,000 accounted for less than 1% of all the transactions made but were equivalent to 26% of the actual trading volume during the research period.
NFT sales amounted to $300 million in the last week alone, with nearly a quarter coming from the metaverse land purchases at The Sandbox.