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Benzinga

Technology

Anusuya Lahiri

$17B Worth NFTs Traded In 2021, More Players Could Join After Visa, Nike: CNBC

NFT (Organization) CNBC

The trading in NFTs hit $17.6 billion in 2021, up 21,000% year-on-year, NFT data company Nonfungible.com reports.
Collectibles, which accounted for $8.4 billion worth of sales, proved the most popular NFT category. Gaming NFTs like Axie Infinity racked up $5.2 billion in sales came next.
Facebook parent Meta Platforms Inc's (NASDAQ:FB) conception of metaverse further triggered sales of digital land and other projects in the space reaching $514 million.
Related Content: VISA Buys CryptoPunk NFT For $150,000, Draws Even Bigger Attention To The Marketplace, Nike Buys Digital Sneaker And Fashion Brand RTFKT: What Investors Should Know
However, total NFT transactions in 2021 missed the blockchain analysis firm Chainalysis estimate of over $40 billion, CNBC reports.
Nonfungible.com connected the miss to the company's methodology for measuring legitimate volumes of NFT trades. The Nonfungible.com data ruled out transactions involving bots and wash trading.
Nonfungible.com does not see a radical boom in NFT volume in 2022, thanks to speculation and a loss of interest in collectibles.
Zuppinger sees more leading companies and financial institutions jumping the NFT bandwagon following the footsteps of Visa Inc (NYSE:V) and Nike Inc (NYSE:NKE).
Photo by nickyandell72 via Pixaby

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