While non-fungible tokens took a nosedive in popularity last year due to dwindling investor sentiments, the asset class has been gaining renewed user interest since the start of the year.
Martin Lee, Ethereum-based NFT projects have seen an increase in their weekly transactions for five consecutive weeks. As per the data, the number of NFT users on Ethereum has increased for three consecutive weeks. There are nearly 250,000 NFT users on the network, with OpenSea also accounting for the bulk of this figure.NFTs have been one of the most prominent parts of Web3 over the last three years. The NFT market saw explosive growth during the 2021 bull run, but this growth was not consistent and leveled off in 2022.
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