Non-fungible token sales rose to $ 10.7 billion in the third quarter of 2021 – eight times the previous quarter. The most popular are collectible NFTs.
According to a Reuters publication citing data from the analytical service DappRadar, the excitement around non-fungible tokens (NFT) continues. In the third quarter of this year, NFT’s sales reached $ 10.7 billion, while in the second and the first quarter, this figure was $ 1.3 billion and $ 1.2 billion, respectively.
In August, sales in the largest NFT market, OpenSea, were $ 3.4 billion. Activity remained strong even in September, when global equity markets declined.
According to DappRadar, which includes information on multiple blockchains and off-network transactions, total NFT sales in 2021 have already reached $ 13.2 billion. According to CryptoSlam, which does not include off-network transactions, this figure is $ 9.6 billion.
At the same time, NonFungible.com, which tracks NFT sales only on the Ethereum blockchain, estimates the total sales in 2021 at $ 7 billion. According to the analytical service, collectible NFTs are the most popular.
However, despite the growth in sales, the number of NFT buyers remains relatively small. According to NonFungible.com, there were only 265,927 active addresses trading NFTs on the Ethereum blockchain in Q3. At the same time, more than half of the NFTs sold in the third quarter were worth from $ 101 to $ 1,000. Tokens with a price of $ 1,001 to $ 10,000 accounted for 20% of the total sales, and those for less than $ 100 – 17%.
The most popular NFT collection in Q3 was Art Blocks, digital artwork created using algorithms. In August, Fidenza NFT from the Art Blocks collection was sold for 1,000 ETH, and last weekend another Art Blocks NFT was sold for 2,100 ETH. According to CryptoSlam, the average price of Art Blocks rose to around $ 15,100 per NFT in September, up from $ 3,300 in July.
Gaming-related NFTs have also grown in popularity, according to DappRadar, with blockchain-based game Axie Infinity leading the sector with $ 776 million in Q3 revenues.
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