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Non-Fungible Token Sales Breaks Record at $2.5B

Non-Fungible Token Sales Breaks Record at $2.5B
  • $2.5 billion worth of NFTs sold in the first six months of 2020.
  • $150 million came from June 2021 alone.
  • In the first six months of 2020, NFT sales came up to $13.7 million.

Non-Fungible Tokens (NFTs) are revolutionizing ownership of art and collectibles in the blockchain space. In comparison to the first half of 2020, the NFT sales from June 2021 alone have smashed the record.

In detail, the NFT sale for the entirety of the first half of 2020 is set at $13.7 million. Meanwhile, $150 million is the NFT sale record for the OpenSea NFT marketplace in June 2021. This is a whopping almost 1,000% increase. Specifically, the stats come from Dune Analytics and DappRadar.

Moreover, the total sales made this year is a remarkable $2.5 billion. Keep in mind that we still have about 6 more months to go. So far, NFTs have proven to be a fantastic option for trading and ownership.

It seems most NFT holders are taken in by the aspect of owning a unique digital collection. It would appear that these NFTs hold cultural significance and may later be considered more valuable. Therefore, NFT holders could also be seeing these NFTs as an investment.

More so, Nonfungible.com says that there has been a massive increase in the number of buyers entering the NFT space. In particular, the numbers are between 10,000 – 20,000 buyers per week since the start of March.

Recently, NFTs have been dominating the crypto space. For instance, NFT sales have been on the rise despite the latest dip in the crypto market. The most popular types of NFTs have been collectibles and sport-themed.

For instance, F1 and McLaren have fully embraced the NFT market. F1 believes that NFTs are a great way to deliver the ultimate fan experience. On the other hand, McLaren noticed that they could enhance sustainability by launching their NFTs on the Tezos blockchain.

Additionally, most celebrities and athletes have also been flocking to the NFT space. Besides these, artists of all kinds have taken to selling their work as NFTs. This includes classical artists to music artists.

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An eager wordsmith who conveys her thoughts and fascinations through words and storytelling. Besides lurking on new and emerging technology forums, she’s always updated when it comes to blockchain.