Opinion: NFT market to grow severalfold in 2021

The Canadian analytics firm NonFungible predicted substantial growth in the NFT market in 2021.

🔥🔥 THE 2020 EDITION OF THE NFT YEARLY REPORT IS LIVE!!! 🔥🔥

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— NonFungible.com (@nonfungibles) February 15, 2021

According to the report, the total market capitalization of NFTs reached $338 million by the end of 2020. Mason Nystrom of Messari Research suggested that in 2021 this figure could grow twofold or even fourfold.

2/The overall Ethereum NFT (ERC 721s only) market capitalization currently sits around $338 million and IMO will easily double if not quadruple in 2021.

Note: this just includes NFTs by project and doesn’t include tokens of NFT projects or NFT marketplaces like AXS, RARI, etc. pic.twitter.com/SIZGWatyQh

— Mason Nystrom (@masonnystrom) February 21, 2021

According to CryptoSlam, on February 22, users spent more than $60 million on NFTs, not counting high-end lots.

NFT sales on February 22. Data: CryptoSlam.

The CryptoPunk NFT was sold for 400 ETH. For other NFTs in the same series, buyers paid from 55 ETH to 98 ETH.

The most valuable NFTs sold on February 22. Data: CryptoSlam.

In January 2021, Topps Digital introduced 18 NFT cards featuring Senator Bernie Sanders in mittens.

In early February, actress Lindsay Lohan sold an NFT named “Lightning” on the Rarible auction for $70,000.

On February 17, Christie’s first put up for auction an NFT. The work Everydays: The First 5000 Days was created by Mike Winkelmann, known as Beeple.

On February 21, the popular meme GIF Nyan Cat was sold at a Foundation auction for 300 ETH.

predicted an NFT crash by Charlie Lee, the creator of Litecoin, due to the “zero cost” of their creation.

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