Aspen's 2022 review of web3

Where did all the money go?

2022 Web3 in Review

Where did all the money go?
2022 web3 in review

The non-fungible token (NFT) industry had a wild ride in 2022. At the beginning of the year, when the crypto market was red hot, it was tough to keep up with all the exciting developments in the NFT space. 

As could have been predicted, a massive influx of new collections and marketplaces, combined with easy money, created the perfect storm for fraudulent activity. We’ll spare you the recap of the wash trading, fake marketplaces, and questionable collection leaderboards.
Instead, we’re focused on the positives. There were multitudes of truly innovative NFT collections in 2022 that showed the world the potential of digital, non-fungible art. And while there were small, grassroots collections in some corners of the industry, there was also consolidation — with the birth of the first NFT megacorp, Yuga Labs.
As we look back on 2022, we’ve rounded up key statistics to help inform your Web3 journey in 2023 and beyond.