Over the in 2015, nonfungible tokens (NFTs)continued to play an important function in the growing Web3 industry. NFTs initiated a shift away from hype-based drops, to utility-centric projects with long-lasting value.A brand-new DappRadar report on blockchain and decentralized application (DApp) adoption in 2022 revealed that the NFT sale count last year reached 101 million– a 67.57% increase from the previous year.According to the

report, the Ethereum environment holds the top spot in the NFT community, holding 21% of the market share and over 21.2 million deals processed. It is followed by Wax (14.5 million), Polygon (13.3 million) and Solana (12.9 million).

Both the Solana and ImmutableX ecosystems saw enormous growth from the previous year in regards to deal activity, with a 440% and 315% boost, respectively.

Meanwhile, the data reveals no change in the BNB environment, with roughly 1 million deals for both 2021 and 2022.

The dominant category of DApps on various chains has actually likewise shifted in the in 2015. In 2021, decentralized finance (DeFi) apps were dominant on all but 2 of the 13 chains utilized in the report.This year, however, a major shift towards high-risk, video gaming and NFT DApps leveled out the playing field.Related: Opinion: NFTshave a brighter future on Instagram than on Twitter Furthermore, the report highlighted Ethereum and Cardano as the blockchains with the most active developers working on-chain, with 223 and 151 active procedures, respectively. While modular blockchains, such as Polkadot and Cosmos, saw their network designer activity grow by 16 %and 131.7 %. The importance of NFTs in the Web3 area likewise overflowed

into traditional culture last year. From continued adoption by legacy institutions like the NBA to Amazon making a documentary series about NFTs and those who collect them.At completion of the year last

year, China announced its first national NFT market to function as a secondary market for the exchange of digital assets.