Chainalysis has revealed that 80% of daily NFT transactions in 2021 came from retail buyers, but large volumes were recorded from collectors and institutional investors.
The firm’s reports, dubbed The 2021 NFT Market Explained, notes that the retail transactions were worth below $10,000.
The report notes that the collector-sized transactions increased from 6% in March to 19% as of October 31, as the number of big collectors surged.
The blockchain analytics company says that institutional-sized transactions amounted to below 1% of the total transfers made but accounted for 26% of the trading volumes in the research period.
Collectors and institutions accounted for the biggest share of NFT-dollar denominated transfer volumes. Collector-sized transactions were 63% of the volume, institutional-sized transactions amounted to 26%, while the retail transfers were 11%.
A collector-sized transaction is valued at between $10,000 and $100,000, while an institutional-sized transaction is over $100,000. Chainalysis collected the research data between January and October 2021.