Crypto arts are selling like hotcakes with data for the previous month striking a record height of more than two hundred million US dollars ($200M) as the Non-Fungible Token rage continues.
NFT sales are like jackpots as the current price frenzy attracts speculators, risk-takers, and investors to make money in the crypto art market.
They’re ready to buy any digital token notwithstanding the intrinsic worth, as what they care about is selling it at a higher price afterward.
Non-Fungible Tokens are becoming massive in the market. There are more attractions of crypto arts to the public, increasing and even stimulating our knowledge of digital scarceness and possession.
The number of platforms going into NFTs is rising. Recently, Consensys announced to the public its latest Non-Fungible Token studio known as Palm. Also, the Enjin crypto token platform is looking to launch a new non-fungible token blockchain on Polkadot.
Related: Gas fees, a hindrance to decentralized finance adoption
Famous digital artist Beeple made sales of his artwork valued at 69 million USD through Christie’s auction in the previous month. The auction is said to have positioned him among the top 3 most valuable living digital artists. The bird app (Twitter) CEO, Jack Dorsey, sold his first tweet for more than $2,900,000.
CryptoArt’s data shows that the digital artwork sales for March alone are over $200,000,000. March sales are said to be more than sales in the past twelve months.
February sales amounted to roughly $91,000,000 and, that of January was close to $12M.
The Nifty Gateway was a larger digital marketplace with sales of close to $140M, followed by SuperRare with nearly thirty million USD in sales for March.
Non-Fungible Tokens gain their worth from rareness. Just one digital token of its kind in the world will have a high price because of its scarcity.
What do you think? Share your comment below.