Seeking Alpha
2022-01-06 19:14:39

NFT market tops $40B in 2021 amid growing interest

The increased interest in non-fungible tokens are driving the flow of cryptos to two types of ethereum (ETH-USD) smart contracts linked to NFT marketplaces from the onset of 2021 through mid-December, according a report from Chainalysis. Users sent $40.9B worth of crypto to ERC-721 and ERC-1155 contracts - revised from just $26.9B in a December report that was based on data through mid-October. Recall NFT marketplace OpenSea recently raised $300M in a Series C funding round, valuing the company at $13.3B - making it a big player in the space. NFT-related stocks are mixed so far on Thursday, including: Vinco Ventures (BBIG +1.1%), Liquid Media Group (YVR), WISeKey International (WKEY -0.2%), Dolphin Entertainment (DLPN +0.6%), Color Star Technology (CSCW +0.8%) and Humbl (OTCPK:HMBL -1.5%). Earlier, Polygon's network activity surges amid record high NFT sales.

Get Crypto Newsletter
Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer