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NFT sales boom, but ownership is highly concentrated
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Trading volumes across various verticals of nonfungible tokens (NFTs) have been on a tear this year.
Combined sales for collectible and art NFTs have reached $7.4 billion as of Q4 2021. The art NFT market has grown from $17.8 million on January 1 to $1.8 billion in total sales as of Nov. 5, 2021. At the beginning of 2021, the collectible NFT market started with a total sales volume of $55.5 million. It has since ballooned to $5.6 billion. As reported by Reuters, total NFT sales volumes jumped from $1.3 billion in Q2 to $10.7 billion in Q3.
Record sales like that of the rare Bored Ape Yacht Club NFT, which went for a record $3.4 million on Oct. 26, puts the frenzy of the NFT market into more context. The sale closed on Sotheby’s online art
Read more on cointelegraph.comAbout this in other media
NFT sales aim for a $17.7B record in 2021: Report by Cointelegraph Research cointelegraph.com /2 years ago
NFT art will never be mass-market — NFT licenses may be cointelegraph.com /2 years ago
Metaverse property sales are accelerating as investors stake out virtual land in the potentially $1 trillion market. Here are 3 recent examples that have sold for eye-popping amounts markets.businessinsider.com /2 years ago
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