A person takes a photo in front of a piece of Mashkow during a press preview on March 25, 2021 of the grand opening of Superchief Gallery NFT, a physical gallery dedicated exclusively to NFT (non-fungible tokens) artwork in New York.
Timothy A. Clary | AFP | Getty Images
Sales of digital non-flammable tokens rose to more than $ 2 billion in the first quarter – more than 20 times the volume of the previous quarter, according to a report by NonFungible.com.
According to the website, there were $ 93 million in transactions in the fourth quarter of 2020, following NFT transactions and marketplaces.
The total for the first quarter does not include sales of NBA Top Shots – the video highlights that are turned into NFTs and traded. Those trading on the Flow platform posted sales of $ 472 million in the first quarter, according to NonFungible.com. It also does not include the $ 69 million NFT that Beeple sold at Christie’s in March, as it was traded through a partnership with Nifty Gateway.
Despite recent data showing a large drop in average prices since February, sales of NFTs showed an explosion of interest and buying at the beginning of the year. NonFungible.com said there were more than twice as many buyers as sellers in the first quarter, with 73,000 buyers for 33,000 sellers. According to the company, the imbalance is a sign of great interest in newcomers, but also the desire of current owners to retain their assets, which creates a phenomenon of scarcity in the market. ‘
A digital artwork featuring HP Baxxter, frontman of Scooter, is being auctioned off on a website. Scooter will be the first band in Germany to release digital, animated artwork from April 9 accompanying the new Scooter album “God Save the Rave”. The artwork receives a certificate of authenticity using NFTs, Non-Fungible Tokens, which cannot be manipulated. .
Jens Kalaene | picture alliance | Getty Images
There were nearly 150,000 active wallets in the first quarter – more than 1.5 times as many as a year ago.
NonFungible.com said the industry is largely dominated by the art and collectibles, and specifically projects such as CryptoPunks and SuperRare.
Despite recent price declines from the highs in February, NonFungible.com said the average price of NFTs “rose significantly” during the quarter, with SuperRare artwork averaging $ 1,231 in the fourth quarter and first sold $ 6,585 in the first quarter. quarter on the secondary market.