Market revenue jumped to $ 22 billion in 2021 from $ 100 million in 2020
The global non-fungible token market has reached $ 22 billion in just one year, as the new investment craze has converted NFTs – certificates (in electronic form) proving the authenticity of digital objects – into valuable assets. .
Economics experts treat NFT with caution, however, as do cryptocurrencies. And they sound the alarm, stressing that these are not serious investments but potentially unsustainable digital gold mining phenomena.
NFTs transfer ownership of a unique digital object to someone, even though the object can be easily copied. The property is registered in a public digital directory, known as the blockchain.
Data from DappRadar, a company that monitors sales in this market, showed that NFT trading jumped to $ 22 billion in 2021, compared to 2020, when revenue was just $ 100 million. dollars. Specifically, in the first half of 2021 there were $ 4 billion in sales of NFT, while in the second half the amount almost quintupled to exceed $ 18 billion.
The most expensive NFT on the market this year was Beeple’s Everyday Life: The First 5,000 Days, a digital collage of Beeple – according to Mike Winkelmann – which was auctioned for $ 69.3 million in March, making it one of the most valuable works of art. sold at auction, in 2021 (eighth overall), while, due to its price, the 39-year-old American artist was named the third most expensive living artist after David Hockney and Jeff Koons.
And since everything in life is a double-edged sword, it’s not only the influencers that drive up the prices of NFT but also the NFT dynamic that brings together all who want to gain popularity.
A case in point is the former first lady of the United States, Melania Trump, who a few days ago presented her own NFT platform, in which a watercolor portrait of her eyes with the title “Melania’s vision” is available. on sale.
Proceeds from the NFT sale of the work, signed by French artist Marc Antoine Coulon, will be donated to charity and can be obtained either by cryptocurrency or by credit card.
As the amount available for the new position is very large, financial analysts point out that the NFT in many countries remains an asset that is not subject to any tax regulations and that it will take some time, if not a few years, to be established. included in the terms governing the conventional market.