Non Fungible Token Market Booms As Big Names Join Crypto’s Newest Craze
Trading volume in the non-fungible token market grew by 115% over the past month
Previously, this segment has already experienced record sales of NFT tokens
ETH 2.0 Evolution May Provide Additional Support For The NFT Market
International consortium of news organizations developing transparency standards.
The boom in the non-fungible token (NFT) market continues. Over the past 30 days, trading volume on it has grown by an impressive 115%.
Bitcoin continues to irresistibly renew its historical highs, drawing everyone’s attention. However, this is not the only hotspot in the crypto space at the moment. The non-fungible token (NFT) market is booming now, according to decentralized app portal Dapp.com..
Crypto map hotspot
According to Dapp.com, released December 17, trade volume in this segment has grown 115% month-on-month over the past 30 days to reach $ 10.15 million..
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#NFT market is booming: 30d volume reached 10.15M with a 115% growth
#NFTs can be sold for huge amounts of money
Some people even pay hundreds of thousands of dollars for a #Crypto kitty
What are the 10 most expensive NFTsHow much do they costhttps: //t.co/pAg7OLzV6W
– Dapp.com (@dapp_com) December 17, 2020
Previously, the edition of BeInCrypto is already told, that the NFT market is making itself felt more and more loudly and even threatens to squeeze the decentralized finance segment (DeFi).
As recently as last week, graphic designer Mike Winckelman aka Beeple held an auction on the Nifty Gateway platform, where he was able to sell three NFT tokens worth $ 582,000 within five minutes..
The most expensive NFT token at the moment, according to Dapp.com, is the CryptoKitties from the famous game CryptoKitties. It cost the buyer 600 ETH.
Extensive opportunities of NFT tokens
Non-fungible tokens are cryptographic tokens that are distinguished by their uniqueness. They are not directly replaceable with other coins..
Read special material: What are NFT tokens and why brands love them
In the case of bitcoins or Ethereum, it doesn’t matter which coin you own from the total issue. They are all equivalent and interchangeable. Meanwhile, every token As the use of cryptocurrencies grows, new types of tokens appear. They can represent value or something intangible like voices. Two … More NFT represents some kind of art, collectible or game item, or even real estate.
Most of these tokens are created on the Ethereum blockchain using the ERC-721 standard. The wide possibilities of their application, coupled with the growing general interest of users in decentralized applications, promise the NFT segment continued active growth..
Another favorable factor for this industry has been the recent positive developments in the Ethereum ecosystem as a whole. Recall that on December 1, the long-awaited launch on December 1 of the zero phase of the updated Ethereum 2.0 protocol took place.
Read also: The first block has been mined on the Ethereum 2.0 network. We tell you why it is important
The successful development of ETH 2.0 will attract more and more new users to this blockchain. Already, news about NFT is increasingly making headlines. So, the developers of the SuperRare platform reported, that in October it sold digital art and NFT tokens worth over $ 4 million.
In November, former baseball player Mika Johnson sold his digital painting for $ 120,000 on the blockchain platform Async Art. In December, Reality Gaming Group announced work on the launch of a new digital card game using NFT-tokens based on the popular TV series Doctor Who..
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