NFTs have completely exploded this year, with artists, celebrities and musicians utilizing the blockchain to grow their art and expand their audience.
In this quarter of 2021, NFT sales have hit $2.5B in sales – that’s up from $13.7m in the first half of 2020. That is huge growth in twelve months, with people from all corners of the internet coming together to buy, sell and trade NFTs online.
There has been some mega-huge, mega-publicised NFT sales, including one super rare CryptoPunk, which fetched $11.8m at auction earlier this year. There have been countless examples of this, more CryptoPunks, Beeple, even Tim Berners-Lee have cashed in on the NFT rise. The market for it is ever-growing too, Discord and Twitter are full of accounts making memes, selling, trading and growing.
Only last week, Twitter released 140 NFTs, as a reference to their original character limit. An NFT fan and creator from Plymouth bagged a Twitter NFT and sold it on for over £100,000! Margaret Corvid curates collections of ‘Ether poems’, collections of audio NFTs containing spoken word poetry.
That’s the beauty of NFTs, anyone, anywhere can capitalise – the market is so fluid and open, there is space for anyone and everyone to create. Whether you’re a global mega corporation like Twitter, or an aspiring creator like Margaret, this NFT boom is good news.
Aforementioned NFT superstar, Beeple, has launched a brand new project – he has partnered with a variety of sports stars to mint and sell NFTs of historic sporting moments. Only yesterday, Andy Murray’s NFT sold for $178,000 – the images of his 2013 Wimbledon triumph are a great piece for any NFT sports fan. Memorabilia is in the 21st century!
Sir. Berners-Lee is making headlines too, eagle eyed fans and HTML nerds have noticed a scripting error in the video of the source code! People aren’t quite sure if this will make it more or less valuable; coins with minting errors, or LPs with miss-presses can be worth big money, so there is no reason why this wouldn’t translate.
Of course, it’s not all smooth sailing – an American company went viral on UK-Twitter this week, because their name is Nonce Finance. Yes, Nonce Finance. No, they’re not Rolf Harris’ investment firm: Nonce Finance are a really exciting start up for the crypto world, but their unfortunate name has created a huge Twitter frenzy of memes and hot takes – even so, they have had a launch bigger than expected. Marketing genius or naive wording? Who knows.