In letter : Non-fungible tokens (NFTs) took the world by storm in 2021, and according to the latest data from Chainalysis, there is little evidence to suggest a slowdown anytime soon. Chainalysis said in its 2021 NFT Market Report that users sent at least $ 26.9 billion in crypto to ERC-721 and ERC-1155 contracts, the two types of Ethereum smart contracts associated with NFT collections and marketplaces. .
Interest in the collections has sometimes increased, but since March 2021, the CryptoPunks Collection was the most popular with over $ 3 billion in transaction volume. Released in 2017 before the NFT craze, this collection from the studio Larva Labs consists of 10,000 pixel art images whose value has skyrocketed in recent times.
In August, Visa joined the wild ride with its $ 150,000 purchase of CryptoPunk 7610. It may sound like a lot, but it’s paltry compared to what some have paid for the most wanted CryptoPunks. As it stands today, CryptoPunk 3100 is the most valuable, having reclaimed $ 7.58 million the last time he traded hands. CryptoPunk 7804 is not far behind at $ 7.57 million.
Last month, someone paid over $ 650,000 for a luxury NFT yacht that only exists in the Metaverse.
Chain Analysis Data indicated that Central and South Asia are hotbeds for NFT markets, as is North America. Western Europe and Latin America have also picked up in recent times, although no region has accounted for more than 40% of monthly web visits since March 2021.
Image courtesy Quartz