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NFT sales hit $319 million over the past week. These were the 5 best-selling digital collections.
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Rokas Tenys
The cryptocurrency boom over the past two years has helped propel a newer market to record heights: digital collectibles known as NFTs.
In fact, 2021 has been a breakthrough year for NFTs, with total sales volume hitting more than $14 billion as both investors and entrepreneurs descend upon the nascent Web3 space.
NFTs, or non-fungible tokens, are unique, irreplaceable, mostly digital items that users buy and sell online.
NFTs use blockchain technology to keep a digital record of ownership, similar to cryptocurrencies. They were first launched on ethereum, the same blockchain that supports the cryptocurrency ether, and most NFTs can still only be purchased using ether.
In the past week alone, sales of NFTs hit $319 million,
Read more on markets.businessinsider.comAbout this in other media
Top 20 NFT Marketplaces Where You Can Buy & Sell Digital Collectibles cryptonews.com /2 years ago
These are the 5 best performing cryptocurrencies over the past week amid bitcoin bear market markets.businessinsider.com /2 years ago
NFT market surpassed $40 billion in 2021, new estimate shows livemint.com /2 years ago
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