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Benzinga
Benzinga
Technology
Anusuya Lahiri

$17B Worth NFTs Traded In 2021, More Players Could Join After Visa, Nike: CNBC

NFT (Organization) CNBC
  • The trading in NFTs hit $17.6 billion in 2021, up 21,000% year-on-year, NFT data company Nonfungible.com reports.
  • Collectibles, which accounted for $8.4 billion worth of sales, proved the most popular NFT category. Gaming NFTs like Axie Infinity racked up $5.2 billion in sales came next.
  • Facebook parent Meta Platforms Inc's (NASDAQ:FB) conception of metaverse further triggered sales of digital land and other projects in the space reaching $514 million.
  • Related Content: VISA Buys CryptoPunk NFT For $150,000, Draws Even Bigger Attention To The Marketplace, Nike Buys Digital Sneaker And Fashion Brand RTFKT: What Investors Should Know
  • However, total NFT transactions in 2021 missed the blockchain analysis firm Chainalysis estimate of over $40 billion, CNBC reports.
  • Nonfungible.com connected the miss to the company's methodology for measuring legitimate volumes of NFT trades. The Nonfungible.com data ruled out transactions involving bots and wash trading.
  • Nonfungible.com does not see a radical boom in NFT volume in 2022, thanks to speculation and a loss of interest in collectibles. 
  • Zuppinger sees more leading companies and financial institutions jumping the NFT bandwagon following the footsteps of Visa Inc (NYSE:V) and Nike Inc (NYSE:NKE).
  • Photo by nickyandell72 via Pixaby
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