In 2021, the NFT Market will have grown 200 times to over $20 billion – OpenSea accounted for 60% of the total marketShare
If cryptocurrencies captured global attention in 2020, various cryptocurrency sectors, notably dApps and DeFi, exploded in 2021.
Non-fungible tokens (NFTs), which aroused curiosity around the globe as the sector continually defied chances to climb in value, were the star of the show in 2021.
According to CryptoSlam, one of the data organizations that has arisen to analyze the booming NFT sector, NFTs achieved over $18 billion in sales in 2021, a substantial growth from less than $100 million in 2020.
With a lot of originality and development in the industry last year, 2021, the year’s top collections are now at the peak of the all-time overall sales chart, with the top five collections on Dappradar garnering nearly $8 billion in sales volume:
- $3.81 billion Axie Infinity
- $2.32 billion in cryptopunks
- $1.1 billion in art blocks
- $877.63 million – Bored Ape Yacht Club
- Top Shot in the NBA – $755.4 million
The Crytoppunks: The cryptopunks collection came out on top, with its NFTs accounting for the most sales on NFT marketplaces thus far.
LarvaLabs released the collection in 2017, and it features 10,000 objects, all of which are computer-generated pixel-art figures, such as human, zombie, ape, and alien ‘punks.’
Right now, a punk costs $288,000 on average.
Bored Apes: The introduction of NFT group Bored Ape Yacht Club’s new collection, which netted $96 million, caused a noteworthy surge in NFT sales at the end of August 2021.
The Bored Ape Yacht Club, as claimed by its website, is a collection of 10,000 Bored Ape NFTs – one-of-a-kind digital treasures that live on the Ethereum blockchain.
Each Bored Ape is one-of-a-kind, with over 170 different qualities to choose from, encompassing expression, hat, attire, and much more.
The Market Leaders
OpenSea was the most prominent NFT purchasing location in the 10-month period, accounting for $16 billion, or nearly 60%, of all NFT transactions.
The following are the top NFT marketplaces:
- With a market capitalization of $13.25 billion, OpenSea is one of the most valuable companies in the
- At $3.81 billion, Axie Infinity is the most valuable company in the world.
- CryptoPunks has a market capitalization of $2.31 billion.
- With a value of $750.4 million, the NBA Top Shot is the most valuable player in the league
- Solanart is valued at $578.67 million dollars.
Off the marketplaces, NFT activity continued to steal the show, with stand-alone pieces of art such as the catastrophe girl meme selling for half a million dollars and the Beeple NFT selling for a record-breaking $69 million at Christie’s auction house.
The Ethereum blockchain has maintained the epicenter of NFT activity, with over $12 billion in trades and 4.9 million transactions recorded.
Nevertheless, activity shifted to fresh chains this year, with Ronin, Solana, Flow, Wox, and Polygon being the most popular.
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