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NFT, Metaverse and DeFi Skyrocket Amid Bearish Market, Boost 2.5M Users

Published 01/19/2022, 04:17 AM
Updated 01/19/2022, 04:30 AM
NFT, Metaverse and DeFi Skyrocket Amid Bearish Market, Boost 2.5M Users

  • NFT attracted 2.5M daily users at the end of 2021
  • China leads NFT traffic with more than 204K users
  • The US ranks second to China with 175K supporters

The crypto world never stops developing its technology to provide its users with the best options in their daily trading lives. This time, NFT, metaverse, and DeFi blew the market with its overwhelming community supporters. Based on a report made by DappRadar, the Unique Active Wallets (UAW) connected to Dapp — NFTs and games attracted over 2.5M daily users by the end of 2021.

China is now the leading country that contributed most to the NFT ecosystem boom. It has more than 204,000 users with an increased rate of 166% registration since November. The United States follows China with 175,000 users with growth traffic of 38%. Indeed, these countries undoubtedly have the highest blockchain game users that attract investors globally.

Furthermore, other countries such as the UK, Russia, the Philippines, Brazil and India also contributed a lot compared to the other countries in the world. The combined traffic for these four countries surpassed 168,000 users, a volume that greatly contributed to the rise of NFT.

On the other hand, despite the bearish situation that the market is experiencing, the NFT space continues to stand strong. In fact, in Q3 2021, the NFT ecosystem generated more than $10.7 billion in trades that continue to increase and remain strong in the first week of 2022. As a result, the crypto networks that are linked to NFT such as ETH, SOL and AVAX to name a few benefits from this.

Meanwhile, the volatility of the crypto market is not a new word in the industry. However, this will not stop investors and traders from being active in the ecosystem. The NFT, metaverse, and DeFi are just some of the technologies that enable investors to still profit regardless of the market condition.

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