NFT popular blockbusters
The last year has seen several blockbuster NFT Popular releases. According to data analytics company TRG Datacenters, Google Trends data shows that Beeple was the most popular NFT art piece searched between January and September 2021.
An analysis of search popularity statistics shows that Dorsey’s first tweet became the blockbuster NFT popular. Hashmasks (a collection of over 16,000 unique digital assets) ranks second among NFT’s 2021 popular blockbusters. Seventy artists from around the world have come together to design these unique digital assets. In February, the project sold its first shipment of 16,384 NFTs in less than a week for $ 16 million, with the most expensive hashing algorithm producing 420 ETH ($ 650,000),” said a report in The BlockCrypto. Got it. “
According to Google search volume in 2021, the Japanese dog breed Shiba Inu ranks third position in NFT Popular.NFT’s sales in June were 4 million. According to Business Insider, NFT is now valued at $ 220 million as a result of the distribution of 17 billion pieces for community property.
In the next few years, will NFTs be a boom or a bust?
NFTs certainly does not seem to be lacking in interest. Hence we will see in 2022 also the NFT Popular. There are several crypto exchanges interested in the idea. Coinbase CEO Brian Armstrong, who recently reported third-quarter revenue of about $1.3bn for Coinbase’s cryptocurrency business, says the NFT market will eventually surpass the size of the exchange’s cryptocurrency business.
Coinbase officially announced its entry into the NFT market with its own NFT marketplace in October. A platform of the same kind, Blockchain.com, announced it would launch a similar marketplace in the coming weeks. Exchanges, for instance, FTX.US and Binance, also have launched their NFT marketplaces already.
However, on top of the NFTs’ growing popularity, any asset class has the risk of bursting. As with any new technology, NFTs will take a while to gain widespread acceptance and become truly mainstream. Although they are a hot topic at the moment, they still have some way to go before becoming truly mainstream.
Though they change hands for eye-watering sums at headline-grabbing transactions, these cryptocurrency exchanges are still a niche product, and they may end up as a fad – just like digital tulips (or Cryptokitties). Suppose tokens suffer a slump in popularity, as so many bubbles have over the last couple of decades. In that case, holders of tokens may end up holding excess tokens with little interest in buying them.
Nevertheless, just as with the broader use of the blockchain, it appears clear that because of NFTs’ usefulness as records of ownership in the business, they could well be here to stay in one form or another.