NFT sales aim for a $17.7B record in 2021: Report by Cointelegraph Research
2021 is proving to be a breakthrough year for NFTs, but what is driving such impressive performance? This Cointelegraph Research report has the answers. In 2010, if someone had told you that Internet memes, digital artwork and Twitter avatars would sell for hundreds of thousands of dollars, would you have believed them? Well, these are nonfungible tokens, or NFTs, in a nutshell. NFTs are driving blockchains toward uncharted territory on the backs of cute kitties and pixelated punks. What may appear to be a shroud of speculation over pointless collectibles is actually the clouded horizon of....
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A new report from Cointelegraph Research analyzes GameFi’s bumper 2021 and what will be in store for the future. This March, Cointelegraph Research will release a 30-page report about GameFi — the term used to describe the marriage of blockchain-based games with decentralized finance (DeFi). The report analyzes five popular play-to-earn (P2E) games, the economics of GameFi and the future development of an industry responsible for more than 55% of all crypto transactions in the last quarter of 2021.In collaboration with multiple partners including Konvoy Ventures, Game7, Forte, Animoca....
There were two surges in the market this year that also coincided with solid spikes in internet searches for the term “NFT.” 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....
Ethereum leads the NFT market, generating more than 97% of recent sales as Flow, Polygon and WAX mount an opposition. This month, Cointelegraph Research will release a comprehensive report on nonfungible tokens, discussing NFTs in detail and providing a detailed guide to getting into this market. In collaboration with multiple partners — including Enjin, NFTBank, The Sandbox and others — the report will evaluate the technology behind NFTs, their regulatory challenges, and their prospective growth and current market positions. The report will also outline the hurdles that the market may....
NFTs are pumping right now, with a new report identifying more NFT sales in the last 24 hours than during the entirety of 2020. Canadian-based analytics company NonFungible has released a report predicting that 2021 is poised for “a new Bull Market in the NFT industry.”Although NFTs have been around since ERC-721 was invented by William Entriken, Dieter Shirley, Jacob Evans, and Nastassia Sachs in January 2018, the sector largely remained an obscurity outside of hardcore crypto circles until the latter part of 2020. The second half of 2020 saw NFT sales increase by 200% to more than $9....
2021 may have been the year for fashion NFTs, but 2022 will require brands to launch NFTs with utility behind them to move the idea forward. Nonfungible tokens, or NFTs, have become one of the most discussed markets in the crypto space this year. A recent report from Cointelegraph Research found that NFT sales are aiming for a $17.7 billion record by the end of 2021. This may very well be the case, as a number of mainstream brands have begun launching NFTs. According to recent research from Bain & Company and the online luxury fashion platform Farfetch, digital interactions with consumers....