Sales of nonfungible tokens (NFTs) have surged to record highs in the first half of 2021.

There has been $2.5 billion in NFT sales in the first six months of this year according to DappRadar, a massive increase over the $13.7 million in sales for the same period in 2020.

Citing stats from Dune Analytics, Reuters reported that June has been a record month for the OpenSea NFT marketplace with almost $150 million in sales. This is almost a thousand percent higher than the sales figure for all markets over the entire first half of the previous year.

NFT buyers and enthusiasts view them as unique digital collectibles with intrinsic value because of their cultural significance. Others simply treat them as investments, speculating on rising prices.

According to NonFungible.com, which aggregates Ethereum- based NFT transactions, there have been between 10,000 and 20,000 buyers per week since early March. The NFT tracking and discovery platform reported that there had been $1.3 billion in sales for the period, but excluded around $8 billion in DeFi-based NFTs.

The most prolific NFT sale so far has been by renowned artist Beeple with his “Everydays: The First 500 Days” fetching a staggering $69 million dollars in March following a Christie’s auction.

Sales figures from analytics platforms such as DappRadar only track on-chain transactions meaning those sold at auction may have part of the transaction take place off-chain, so they must be manually added to the data, Reuters noted.

Collectible and sports-themed NFTs are the most popular according to data from Nonfungible with digital art coming in third place. Almost 300,000 sports-related tokens have been sold in the first half of the year compared to 124,000 for art. Its latest figure for June 6 reported just shy of 140,000 total NFT sales on the day for Ethereum-based tokens.

As reported by Cointelegraph in June, NFT transaction volume has multiplied by more than 25 times since December 2020 as they usher in a new paradigm of interacting with culture, music, sports, and the media.


Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Recommended content


Recommended Content

Editors’ Picks

Is Altcoin Season here as Bitcoin reaches a new all-time high?

Is Altcoin Season here as Bitcoin reaches a new all-time high?

Bitcoin reaches a new all-time high of $98,384 on Thursday, with altcoins following the suit. Reports highlight that the recent surge in altcoins was fueled by the victory of crypto-friendly candidate Donal Trump in the US presidential election.

More Altcoin News
Shanghai court confirms legal recognition of crypto ownership

Shanghai court confirms legal recognition of crypto ownership

A Shanghai court has confirmed that owning digital assets, including Bitcoin, is legal under Chinese law. Judge Sun Jie of the Shanghai Songjiang People’s Court shared this opinion through the WeChat account of the Shanghai High People’s Court.

More Cryptocurrencies News
BTC hits an all-time high above $97,850, inches away from the $100K mark

BTC hits an all-time high above $97,850, inches away from the $100K mark

Bitcoin hit a new all-time high of $97,852 on Thursday, and the technical outlook suggests a possible continuation of the rally to $100,000. BTC futures have surged past the $100,000 price mark on Deribit, and Lookonchain data shows whales are accumulating.

More Bitcoin News
Shiba Inu holders withdraw 1.67 trillion SHIB tokens from exchange

Shiba Inu holders withdraw 1.67 trillion SHIB tokens from exchange

Shiba Inu trades slightly higher, around $0.000024, on Thursday after declining more than 5% the previous week. SHIB’s on-chain metrics project a bullish outlook as holders accumulate recent dips, and dormant wallets are on the move, all pointing to a recovery in the cards.

More Shiba Inu News
Bitcoin: New high of $100K or correction to $78K?

Bitcoin: New high of $100K or correction to $78K?

Bitcoin surged to a new all-time high of $93,265 in the first half of the week, followed by a slight decline in the latter half. Reports highlight that Bitcoin’s current level is still not overvalued and could target levels above $100,000 in the coming weeks.

Read full analysis
Best Forex Brokers with Low Spreads

Best Forex Brokers with Low Spreads

VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.

Read More

BTC

ETH

XRP