2022’s ruthless bear market has dealt a blow to the general crypto market, affecting totally different components of the business like DeFi, Web3 gaming, and even NFTs. 

Nevertheless, it appears that evidently the crypto winter has been unable to discourage manufacturers and corporations around the globe from venturing into the thrilling world of NFTs. 

United States Patent and Trademark Workplace Lawyer Mike Kondoudis shared some attention-grabbing numbers on Twitter that indicated the continued curiosity in NFTs.

Over six thousand purposes

Kondoudis stated that for the reason that starting of this 12 months, 6,366 trademark purposes for NFTs and associated blockchain items have been filed. 

This marks an virtually 200% enhance from 2021’s trademark purposes, which was 2,142, roughly a 3rd of this 12 months’s determine. 

The month of March noticed the very best variety of purposes, 1080 to be exact. September then again recorded 435 purposes making it the bottom for the 12 months.

You will need to be aware that the month-to-month software numbers have constantly gone down since March 2022.

This information comes at a essential time with the general NFT has been struggling, crammed with FUD and considerations in regards to the valuation of widespread collections. 

The truth that curiosity in NFTs has not solely sustained the bear market but additionally managed to overhaul final 12 months’s quantity, will come as a aid to NFT artists and traders. 

AMBCrypto reported earlier that NFTs had been making inroads within the music business with widespread names like Sony Music submitting trademark purposes for NFTs.

The Ford Motor Firm additionally ventured into the NFT house by filing 19 trademark purposes for all its main manufacturers. 

NFT stats

The third quarter of 2022 was nothing lower than a massacre for NFTs. A report revealed by DappRadar famous that the NFT buying and selling quantity on this interval dropped to $713 million, an 84% lower from the earlier quarter. 

In response to data from DappRadar, Solana-based NFT initiatives fared comparatively higher within the month of September, managing to achieve month-to-month gross sales of $133 million, in comparison with the $68.5 million from the month earlier than. 

Apparently, Ethereum Identify Service is now main the highest collections on DappRadar, when it comes to quantity, merchants, and gross sales. Its 30-day quantity is up by 70% reaching $31.2 million. Moreover, its gross sales are up virtually 50% in comparison with final month, 556,575 to be exact.

In the meantime, widespread NFT market OpenSea has taken a brutal hit this 12 months due to the continuing crypto winter. Buying and selling quantity on the platform has dropped greater than 90% from its March excessive. Moreover, gross sales on the platform have constantly dropped for 5 months in a row. 

Kondoudis additionally shared that the trademark filings associated to “digital or cryptocurrencies and related goods/services” had overtaken final 12 months’s numbers. 2022 has seen 4,317 purposes in comparison with 3547 in 2021.

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