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HomeDigit NewsNFT sales in 2021 grew by 21,000% and exceeded $17 billion

NFT sales in 2021 grew by 21,000% and exceeded $17 billion

According to research conducted by L’Atelier for the Nonfungible.com project, non-fungible token (NFT) sales reached $17.6 billion over the past year – an increase of 21,000% compared to 2020, when this figure was only $82 million .

NFTs are electronic assets that are stored on a blockchain and contain information about who owns a particular digital good, such as an image or an avatar for a computer game. Last year, the market literally exploded and began to set records: digital artist Beeple sold one of his works for $69 million at Christie’s auction, and the popular Bored Ape Yacht Club collection attracted the attention of celebrities from TV host Jimmy Fallon (Jimmy Fallon) to rapper Snoop Dogg.

Nonfungible.com data turned out to be lower than some other estimates – for example, blockchain analysts at Chainalysis estimated the NFT market in 2021 at more than $40 billion. official NFT sales without “gray” business methods like buying up your own tokens to artificially raise their price.

According to these data, in 2021, the number of NFT-related crypto wallets amounted to 2.5 million compared to 89 thousand a year earlier. The number of token buyers grew from 75,000 to 2.3 million. Digital assets turned out to be a profitable investment: last year, investors earned $5.4 billion from them, and 470 crypto wallets earned more than $1 million. sales of $ 8.4 billion, the second was gaming tokens like Axie Infinity – their sales reached $ 5.2 billion. Finally, activity in the so-called metaverse has intensified, where sales of virtual earth and other objects reached $ 514 million.

This year, the NFT market is expected to continue to grow. To date, sales volumes average $687 million per week, which is already more than $620 million, which were observed in the fourth quarter of last year. Large players are also expected to enter the market and reduce the number of speculations.

 

source: CNBC

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