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As the market spreads to other blockchains, NFT secondary sales surpassed the $ 15 billion mark
Secondary sales of non-fungible tokens (NFT) exceeded $ 15 billion. This is the conclusion of the Messari resource. It is reported that almost $ 10 billion of this amount is accounted for by the Ethereum network. However, starting in the summer of 2021, sidechains and blockchain networks such as Ronin and Solana began to grab a significant share of the market.
Source: messari.io
Most of the NFT sales are in sports / cultural collectibles, digital avatars, and the like. The most active month of trading was August, when the volume of secondary sales reached $ 4.5 billion. This is a fourfold increase in comparison with July. What exactly caused such a sharp jump in sales, Messari did not specify.
Source: messari.io
However, even despite such a sharp increase in capital, the market is still at the initial stage of its development. According to Messari senior analyst Mason Nystrom, investing in NFT culture has just begun to flourish.
“In early January, the $ 50 million in NFT sales was a huge achievement. Now this volume is a bad day for OpenSea, ”Nystrom said.
However, NonFungible’s COO Gauthier Zuppinger has doubts about the market’s potential. Let us remind you that earlier the expert noticed that over the past summer, more than 70% of the NFT sold on OpenSea have not moved from the wallets of the new owners.
This happened not because the new owners took a wait and see attitude, but because many simply cannot resell this type of tokens. Zuppinger also believes that about 90% of NFTs are completely “useless and pointless”. Read about how OpenSea angered the NFT community with its plans for an IPO – read the material of the BeInCrypto editorial staff.
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