Ethereum FoundationA non-profit organization that supports Ethereum According to (CRYPTO: ETH) and related technologies, 2021 was a year when “Web3” raised public awareness and allowed creators to move away from a centralized platform.
What happened: In the “2021: Ethereum Year” report Josh Stark When Evan Van NessThe Foundation said in 2022 that the world “began to understand the vision of a more decentralized Internet built on Ethereum.”
It called Ethereum the “foundation of digital civilization.”
The authors pointed out that the “creator economy” of the Internet is dominated by centralized platforms such as: Alphabet Inc’s (NASDAQ: GOOGL) (NASDAQ: GOOGL) YouTube Also Spotify Technology SA (NYSE: SPOT) Until now.
“Ethereum has provided creators with new tools to monetize their work, especially NFTs,” the author writes.
The report points out that the non-fungible token (NFT) ecosystem is still in its infancy, but such a market rarely existed a year ago.
“The rapid expansion of the NFT market has attracted mainstream attention. Stephen Curry, EminemWhen Shaquille O’Neal bought Bored monkey.. Adidas He also purchased Digital Land and released his own NFT collection. “
Related item: How to buy Ethereum (ETH)
Important reason: The advent of the NFT era has expanded the entire cryptocurrency industry and added people who make money from it to the battle.
Source: “2021: Year of Ethereum” Ethereum Foundation
According to the report, in 2021, artists, musicians, writers and others used Ethereum to make a total of $ 3.5 billion, making it one of the largest global platforms for creators.
Revenues of Creators by Platform: Source “2021: Year of Ethereum”
The Foundation said the transfer of assets alone exceeded Ethereum’s trading volume. Visa Inc (NYSE: V) Network.
In 2021, Ethereum’s total transaction volume was $ 11.6 trillion, while visa’s total transaction volume was $ 10.4 trillion.
Ethereum was also the second largest beneficiary in terms of network charges after visas. Visa generated $ 24.1 billion in revenue in 2021, while Ethereum’s L1 earned $ 9.19 trillion. Bitcoin (CRYPTO: BTC) However, I got only $ 0.89 trillion from transaction fees.
In May 2021, the average transaction fee for the Ethereum network soared to the $ 70 level, according to BitInfoCharts data. But since then it has slid and has fallen below $ 10. It was $ 8.05 at the time of the press.
Still, ETH remains more expensive than rival blockchains such as: Cardano (ADA), Polka dot (DOT), and Solana (Sol).
Read next: The $ 100 invested in Cardano (ADA) now shows how much it would be worth if it regained a record high.
