Consumers have spent nearly $27 billion on NFTs so far in 2021

In short: Non-fungible tokens (NFTs) have taken the world by storm in 2021, and in line with the newest knowledge from Chainalysis, there’s little proof to counsel a slowdown anytime quickly. Chainalysis stated in its 2021 NFT Market Report that customers have despatched not less than $26.9 billion value of crypto to ERC-721 and ERC-1155 contracts, the 2 kinds of Ethereum good contracts related to NFT collections and marketplaces.

Curiosity in collections has spiked at occasions however since March 2021, the CryptoPunks assortment has been the preferred with greater than $3 billion in transaction quantity. Launched in 2017 earlier than the NFT craze, this assortment from Larva Labs studio consists of 10,000 pixel artwork photographs which have skyrocketed in worth as of late.

Again in August, Visa joined the rat race with its $150,000 buy of CryptoPunk 7610. That will sound like loads, however it pales compared to what some have paid for probably the most sought-after CryptoPunks. Because it sits as we speak, CryptoPunk 3100 is probably the most precious, having fetched $7.58 million the final time it traded fingers. CryptoPunk 7804 isn’t far behind at $7.57 million.

Final month, somebody paid greater than $650,000 for a luxurious NFT yacht that solely exists within the metaverse.

Chainalysis’ knowledge signifies that Central and Southern Asia are hotbeds for NFT marketplaces, as is North America. Western Europe and Latin America have additionally picked it up as of late, though no area has made up greater than 40 % of month-to-month net visits since March 2021.

Picture courtesy Quartz

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