NFT market tops $40B in 2021 amid growing interest

Jan. 06, 2022 2:14 PM ETBBIG, YVR, WKEY, DLPN, CSCW, HMBLBy: Max Gottlich, SA News Editor2 Comments

NFT non fungible token crypto currency

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  • The increased interest in non-fungible tokens is 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 to 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.
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