NFT transactions in 2021 increase by more than 21,000%

 The total value of NFTs traded in 2021 reached $17.6 billion, up 21,350% from $82.5 million

The most popular category is the collectible NFT, which accounts for $8.4 billion. Last year, many NFTs sold for tens of millions of dollars such as Everydays: The First 5000 Days by artist Beeple for $69 million, or The Merge by artist Pak for $91.8 million.

Meanwhile, game-related NFTs, as in Axie Infinity, came in second, grossing $5.2 billion. NFTs on metaverse such as virtual land and similar projects also have a total value of 514 million USD.

Nonfungible's figure for total NFT transactions in 2021 is lower than the $40 billion previously reported by blockchain analytics firm Chainalysis. However, Zuppinger said Nonfungible's statistics differ, when it comes to legitimate NFT trading volume, the type of bot-related transactions, and "Wash Trading," where an investor simultaneously buys away. resell an asset to increase the virtual price in the market.

Zuppinger predicts that the total volume of NFT transactions will no longer reach the dominant rate this year, but will still grow. Currently, NFT trading volume per week averages $687 million, up slightly from $620 million at the end of last year.

"The global community may have reduced speculation and lost interest in NFT collectibles. However, the global market for this kind of stuff is still really high and their value continues to grow," Zuppinger said. In addition, he also thinks that NFTs related to the metaverse will become popular as more large companies start entering the virtual universe. Meanwhile, collectible NFTs will decrease.
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