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Total NFT Sales Smash $25 Billion Last Year

Published Thu, Jan 13 2022 08:33 am
by The Silicon Trend



Total NFT Sales Smash $25 Billion Last Year

Information from market tracker - DappRadar highlights, the outburst in non-fungible token (NFT) fame topped its sales last year to over $25Bn. Reports mentioned that the rates of some tokens rose at a drastic rate in 2021 that speculators sometimes turn them over for a profit. Though the NFT's growth was tremendous, the tracker said that there were indications of slow growth towards the year-end, which raises questions about asset performance in 2022.


CryptoSlam and DappRadar

DappRadar is a firm that obtains information across 10 different blockchains leveraged to record the NFT ownership. Comparing the rate of NFT sale volume in 2020, which was $94.9Mn, the sale significantly increased to a total of $24.9Bn last year. Also, the company mentioned that wallets trading in NFTs had a rise to over 28.6Mn.

CryptoSlam is a company that offers ultimate transparency for millions of NFT collectibles across various blockchains. The company reported that last year the NFT's total sale was $12.3Bn. Its data showed that in 2021, the rate of most sought-after NFT was highly volatile.


NFT Value Hike

The crypto-assets are non-interchangeable units of data stored on the blockchain, which helps verify digital art ownership. The hike in the value of NFTs was a good chance for the art world in 2021. Auction houses sold the assets representing simple cartoons for millions of dollars. Some top global brands such as Gucci and Coca-Cola were quick enough to cash in on the hype and sold myriad NFTs.

Progressing on 2021's success, this year will also be a positive for cryptos as its first trading week has already seen the investment net outflows reaching a record of $207Mn.