One type of non-fungible token (NFT) sales surged this week after setting a record trading volume of $339 million last week. According to data from the monitoring platform DappRadar, only OpenSea, the world's largest NFT market, recorded a transaction volume of US$49 million on August 1.
CryptoPunks is an algorithm-generated character in the art framework. Weekend sales reached a record 78.4 million U.S. dollars, pushing weekly sales to 207 million U.S. dollars.
In last week's trading volume, the gaming platform Axie Infinity's trading volume was 127 million U.S. dollars, while the American Basketball Association Top Shot market's trading volume was approximately 4 million U.S. dollars. Last week, due to a series of CryptoPunk sales, the average NFT transaction soared to $34,600.
The Ethereum-based market became popular last year, but the market has exploded since the beginning of this year, and the transaction volume in the first half of the year jumped to 2.5 billion US dollars. Sales were particularly large in March, when Christie’s auction house sold $69 million worth of digital art.
DappRadar stated in a blog post last week: “In 2020, the total transaction volume of NFT collections tracked by DappRadar reached a staggering US$94,862,807. What’s more impressive is that by the end of the second quarter of 2021, this The figure is close to 250 million U.S. dollars."
The company is eager to develop the NFT market
As sports and entertainment-related NFTs become more popular, crypto and entertainment companies are seeking to capitalize on this boom. The cryptocurrency exchange FTX has partnered with Dolphin Entertainment to create an NFT market for popular sports and entertainment brands. FTX will provide technology development and communication services, while Dolphin Entertainment will manage branding, production and marketing operations.
Earlier, Fox Entertainment announced an investment of 100 million U.S. dollars to create NFTs on characters and background art and GIF. In addition, Porsche subsidiary Forward 31 said it plans to launch a sports NFT platform, while video game developers Mythical Games and Burberry announced a collaboration to launch a game NFT.
NFT is becoming mainstream
Recently, many well-known artists, organizations and celebrities have joined the ranks of NFT. Jack Dorsey, the founder of Twitter and Square, sold his first tweet as an NFT at the beginning of this year for $2.9 million. The US Space Force also recently announced plans to auction 3D augmented reality digital tokens depicting satellites, space suits, mission badges, coins and other memorabilia.
DappRadar's report states: "It seems that a broader and more mainstream audience has finally arrived. It is undeniable that the factors for mass adoption are undeniable."
In addition, institutional investors have begun to chase the booming NFT market. After receiving $23 million in Series A funding from angel investors such as Mark Cuban and Ron Conway, OpenSea recently received a $100 million investment led by venture capital firm Andreessen Horowitz USD Series B financing. In addition, NFT auction site Rarible received US$14.2 million in Series A financing led by venture capital funds CoinFund and Venrock.
E-commerce platforms have also begun to provide NFT markets to their customers. Shopify, headquartered in Ottawa, provides businesses with a commerce platform that allows its merchants to sell NFTs in order to provide them with more sales and customer relationship control.
NFT Is Becoming More And More Popular
Reviewed by mattkaydiary
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八月 05, 2021
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Reviewed by mattkaydiary
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八月 05, 2021
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