In 2021, the non-fungible token (NFT) ecosystem has grown massively and data shows during the last month, there have been 98,832 NFT sales across over 32,000 active wallets. Monthly statistics show $272 million in recorded NFT sales have taken place but a recent report shows the NFT market is starting to “cool off” as NFT volumes have dropped. Although, another study suggests the NFT market could double in size by the fall.
Report Notes a ‘Cool Off’ Period in NFT Markets
NFT’s have become a huge success in 2021 and the market continues to show people are buying non-fungible token collectibles. Data from nonfungible.com’s market history shows out of more than 15,000 sales over $15 million worth of NFTs have been sold during the last seven days. This year has shown that nearly everybody is attempting to leverage NFTs in order to raise funds and the NFT trend has spread to world-renowned artists and celebrities.
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