But among the sea of new NFTs entering the market, which ones are really worth your time and investment? The NFT market is yet again recording a spike in activity while the broad crypto market is struggling with weak price action. Additionally, 28.6 million wallets traded NFTs in 2021 while in 2020, this number was just 545,000.Īs NFTs grow popular and go mainstream, thousands of new projects are being launched daily. But since then, volumes are rising yet again, with January already doing $2.6 billion, more than entire November numbers. The activity peaked in August 2021 at $3.4 billion, only to decline in September, October, and November, as per data from the biggest NFT marketplace OpenSea. It resulted in NFT sales volume climbing to $24.9 billion last year compared to a mere $95 million the year before. Also, collectible NFTs were the most popular NFT category followed by art. Some of the world’s top brands, including Adidas, McDonald’s, Pepsi, Coca Cola, and Gucci capitalized on this trend to sell their own NFTs.īut while the most expensive known NFT sale was $69.3 million, the usual price range for NFTs is $100-$1,000, as per.
Even traditional actuation houses Christie's and Sotheby’s were quick to get in on the trend. Prices of non-fungible tokens representing a digital item such as an image or video rallied to millions of dollars in some cases amidst the speculative frenzy of bull market mania. NFT sales reached about $25 billion in 2021 as the crypto assets exploded in popularity, according to DappRadar.
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