NFT Market Grows 1785 Percent During 2021

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The NFT (Non-Fungible Token) market will grow 1,785 percent during 2021. This figure is a continuation of the heat of this unique crypto asset since mid-2020. Here are the latest developments!. NFT demand continues to increase. And until now the NFT market also shows no signs of slowing down.

On a year-to-date basis, in less than three months, the combined market capitalization of major NFT projects has increased by 1,785 percent. This is largely due to Beeple's NFT transactions, also because many public figures have started investing and releasing their own NFTs. From this trend caused sales volume to skyrocket.

THETA, ENJ, SAND and AXS are some of the crypto assets that are directly related to the NFT. Part of it is game-focused and has undergone a few changes in recent months. As a result, major NFT markets such as Rarible and Opensea have seen sales increases of 50-fold to 100-fold in the last three months. Opensea, for example, earned almost $ 5 million in cumulative sales in the first week of January 2021. Since then, in just three months, its cumulative sales have jumped to more than US $ 100 million. As a result, NFT projects and companies are starting to appear in various blockchain ecosystems.

The NFT market sees large investments coming from companies, funds, exchanges and traditional venture companies. Opensea itself received an investment fund of US $ 23 million mainly by Andreessen Horowitz. This also shows the company's long-term confidence in the NFT market.

Meanwhile, Recur managed to raise US $ 5 million in crypto funds from investors such as Hashed and Gary Vaynerchuk. Blind Boxes, the NFT platform on the Binance Smart Chain, recently completed its strategic sale of US $ 590 million within days of launch. In the coming months, several NFT platforms are preparing to launch.

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There is Moonrock Capital, an investor in the Polkadot ecosystem, while incubating Polkamon; an animated digital collection platform and game, with Morningstar Ventures. Polkamon is currently running its campaign which is tagged with the slogan #ClaimYourEgg. Claiming "eggs" on the platform must use the Ethereum blockchain. Since the average transaction fee on Ethereum was around US $ 15 at the time, so more than US $ 1.5 million was likely spent by gas fee users.

Crypto Prophecies raised top DeFi funds and Polygon, considered to be the second largest solution in building NFT games. Refinable accepts direct investment from Binance to build one of the first Binance Smart Chain NFT markets.
The insurance NFT platform and several other platforms are already seeing major investments in DeFi, which will allow the entire NFT infrastructure to accelerate rapidly in the coming months. The NFT market, insurance, fractionalization, trading, are considered to be the most invested areas of investment in the market. If this trend continues, the two NFT sectors are likely to get the most benefit, namely the NFT market, blockchain game studios, and blockchain alternatives targeting NFTs.

Efinity Enjin is the newest blockchain alternative targeting blockchain games and NFTs. There's also Sandbox, Axie Infinity, which is another game-focused blockchain project showing great interest after seeing a first-quarter 2021 surge.