NFT sales have spiked 21,000% in a year

Is this the story of the marketplace becoming a bubble?

NFT sales spike on orange background

The nonfungible token (NFT) marketplace is booming with sales jumping by more than 200 times in 2021, according to a new report which also highlights how NFTs have become precisely that, a marketplace.

Sales of NFTs jumped 21,000 percent to more than $17.6 billion (almost €16 billion) in 2021, up from $82 million (€74 million) a year earlier according to the report from NFT data company, developed in partnership with BNP Paribas-owned research firm L’Atelier.

NFTs are unique digital assets, which can be thought of as digital collectibles that include art, gaming, or other creative products that are recorded on a blockchain or digital ledger.

But the market has been criticized for being a bubble and the report shows it is exactly a buyers’ market.

The number of buyers rose almost 2,962 percent last year, while the number of sellers increased by 3,669 percent.

The report also found NFTs were being kept 48 days on average in 2021 before being sold, compared with 156 days the year before.

The most valuable NFTs

Last year, a token representing a collage by the digital artist Beeple sold for a record $69 million (€62 million) at the auction house Christie’s.

The most popular category of NFTs was collectibles, which accounted for $8.4 billion (€7.6 billion) worth of sales.

Read More: World’s Top 10 Most Expensive NFT items

NFT collections like Bored Ape Yacht Club, a collection of 10,000 digital collectibles on the Ethereum blockchain have also spiked in popularity, boasting a 7-day sales volume of $32.2 million (€28 million).

Gaming NFTs such as Axie Infinity was the second-largest category, making up $5.2 billion (€4.7 billion) in sales.

However, Dan Kelly, CEO, and co-founder of argues the NFT space was not a bubble.

“2021 was an incredible year. For many, the explosion that surrounded the Collectibles segment is a ‘bubble,’” he said.

“On the contrary, we believe that today, every community that was created in 2021 has a digital identity. It is essential that there are strong values carried by strong communities as we start to build a whole new Web3 industry”.

The future of NFTs

Web3, which some dub as the next phase of the Internet, is an umbrella term for an online ecosystem that cuts out the big middlemen on the Internet. It includes technology such as blockchain, which we use to record transactions, etc.

The metaverse – 3D virtual worlds – would also make up Web3 and is seen as the future for NFTs.

Read More: What should we really expect from DeFi, Web3, and the future of the internet?

According to’s research, sales of digital land and other projects in space reached $514 million (€465 million) last year.

It comes after Facebook’s rebrand to Meta last October and brands such as Nike jumping on the metaverse bandwagon to make virtual clothing.

While last year was a breakthrough for NFTs in terms of volume and value of transactions, sales may not grow to such a large extent in 2022 but the underlying technology it uses could.

“In 2022, I expect that while the NFT market will continue to be volatile, the better projects will also start to mature technologically, socially, and commercially,” said Nadya Ivanova, COO and & foresight lead at L’Atelier BNP Paribas.

“Beyond the focus on NFTs as popular collectibles, there is currently a real need and an opportunity to build infrastructure and utility services for this emerging market and asset class, such as financial and risk management products,” she added.

“The NFT market has barely pushed the boundaries of its underlying technology”.

10,176 Responses

    1. Further investigation revealed that selenium administration increased cancer risk in subjects carrying a specific genotype, the CC at rs11781886, which was associated with decreased expression of the androgen regulated prostate tumor suppressor protein NKX3 buying cialis online

    1. LASIK, Laser in Situ Karatomileusis, is performed under a protective layer of corneal tissue buy cialis cheap Europe Nick Staines, Europe needs a plan to combat cancer drug shortages European Society of Oncology, Pharmaphorum, 18 May 2017

    1. First I need to share a little of my mother s breast cancer journey because my own choices were hugely in influenced by what happened to her buying cialis online In order to determine statistical significance for proteins identified in both experiments the ratios for each experimental replicate were standardized by substracting the mean ratio of the replicate and dividing by the standard deviation of the replicate

    1. cialis generic reviews From studies of pregnancy outcome, some evidence has become persuasive that miscarriage rate and prematurity 6, 356- 358 are favorably influenced by maternal thyroid hormone replacement, even when hypothyroidism would be regarded as subclinical by standard criteria

    1. cialis generic reviews 18 Angiotensin II, one of the most potent vasoconstrictors and major products of the renin angiotensin system, helps re establish fluid balance and normal BP by actions on multiple organs providing blood vessel constriction, increased renal and gastrointestinal salt and water reabsorption, and aldosterone production by the adrenal gland

    1. Drug Drug class Etodolac Ibuprofen Aspirin Antiplatelet Yes Yes Warfarin Anticoagulant Yes Yes Lisinopril Captopril Ramipril Angiotensin converting enzyme ACE inhibitor Yes Yes Losartan Valsartan Olmesartan Angiotensin receptor blocker ARB Yes Yes Furosemide Hydrochlorothiazide Diuretic Yes Yes Lithium Mood stabilizer Yes Yes Methotrexate Pemetrexed Antimetabolite Yes Yes Cyclosporine Immunosuppressant Yes Yes Digoxin Cardiac glycoside Yes Yes generic cialis vs cialis

    1. Therefore, all the results suggested that aberrant hypermethylation of BRCA2 was associated with its own transcriptional downregulation and the overexpression of RAD51, which finally led to AI resistance in ER positive breast cancer buy cialis professional

    1. There are not enough studies evaluating the differential efficacy and safety of thromboprophylaxis by gender in cancer patients to confirm the validity of our study results buy cialis on line Because some participants had brain MRI before their seventh baseline examination, we chose the sixth examination as the baseline for this study

    1. I want to know more about you, but you are so busy that you don t have time to talk to me, so I think the most important thing is A good way to do that is to go and read a book you like to read, When the door opened, two beautiful maids walked in lightly, each can jumping jacks lower blood pressure of them holding a thick stack of documents and placing them on the stack on the left side of the writing desk cialis buy online

    1. Tamoxifen and endometrial carcinoma alterations in estrogen and progesterone receptors in untreated patients and combination hormonal therapy in advanced neoplasia discreet cialis meds The ACC AHA Task Force on Clinical Data Standards Task Force selects cardiovascular conditions and procedures that will benefit from creation of a clinical data standard set