In recent times there has been a growing worldwide interest in non-fungible tokens or NFTs. The popularity of this technology-based digital asset has grown so much that by 2021, NFTs have sold nearly $ 2.5 trillion. News Reuters.
According to market analyst firm Daprader, the NFT’s popularity had been widespread in 2021. However, as the NFT market continues to rise throughout the year, that momentum has slowed down.
Specialized copies of digital pictures and videos are sold as NFT. Their market has grown so much that many buyers have made huge profits by selling them within days of buying a new NFT.
In 2020, the amount of NFT transactions was nine crore 49 lakh dollars. Within a year, the volume of these transactions has reached about two and a half trillion dollars.
According to Reuters, the highest NFT sales were in August 2021. Sales declined in the next three months, but rose again in December.