{"id":12715,"date":"2022-08-03T22:16:03","date_gmt":"2022-08-03T22:16:03","guid":{"rendered":"https:\/\/nftandcrypto-news.com\/nft\/half-of-eth-raised-from-primary-nft-sales-stayed-in-the-space-heres-why\/"},"modified":"2022-08-03T22:16:08","modified_gmt":"2022-08-03T22:16:08","slug":"half-of-eth-raised-from-primary-nft-sales-stayed-in-the-space-heres-why","status":"publish","type":"post","link":"https:\/\/nftandcrypto-news.com\/nft\/half-of-eth-raised-from-primary-nft-sales-stayed-in-the-space-heres-why\/","title":{"rendered":"Half of ETH Raised From Primary NFT Sales Stayed in the Space. Here’s Why"},"content":{"rendered":"
The blockchain\u2019s immutable record provides unique opportunities to study the crypto and NFT ecosystem. Specifically, looking at money flow through the network can be a helpful lens on current dynamics in the NFT and crypto space. <\/p>\n
And, NFT market participants spent roughly $2.7 billion (963,227 ETH) minting NFTs between January 1 and June 30 of this year, according to a recent report by the blockchain analytics platform Nansen.<\/p>\n
During that time, 50.7 percent of the ETH raised from a project\u2019s primary sales stayed in the NFT communities. Another 45.7 went to non-entity wallets, which the Nansen team defines as addresses they couldn\u2019t establish as an owner or known entity. Only 0.2 percent were sent to exchanges, and 3.5 percent were listed as \u201cother\u201d wallets, including service providers, angel investors, or charities.<\/p>\n
The top 20 wallet addresses that sent ETH out of their NFT project belong to collections like VeeFriends Series 2, Primitive, Meta Labs Field Agents, and more. Vee Friends Series 2 accounts for five out of the top 20 transfers to non-entity wallets.<\/p>\n