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Increasing 157% Compared To Last Month, NFTs Trading Volume Surpassed $6.86B In January

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According to data from the Block, In January 2022, the trading volume of non-fungible tokens (NFTs) topped $6.86 billion, making a new all-time high.



More than half (61.4%) of the trading volume came from the OpenSea NFT marketplace — $4.21 billion. On January 17, the platform’s trading volume exceeded $3.5 billion for a single day.

LooksRare took second place, launched on January 10 in the hope of providing an alternative to OpenSeaa and with the help of the so-called “vampire attack.” The developers distributed the native LOOKS token among OpenSea users.

Compared to December 2021, the trading volume in non-fungible tokens in January increased by 157%. The trading volume in 2021 touched $14.2 billion.

 

 

Earlier, Nicolas Poire, vice president of video game developer and publisher Ubisoft, spoke about the company’s reaction to the sharp criticism by players of the introduction of non-fungible tokens. saying video game fans “are not getting what a digital secondary market can bring.” “

“Right now, given the current situation and context of NFTs, players really think that they are destroying the planet first, and secondly an instrument of speculation, The end game is all about giving players the opportunity to resell their items once they’re done with it, or when they’ve finished playing the game itself.”

Recall Justin Bieber bought an NFT from the Bored Ape Yacht Club collection for 500 ETH. Also, World Top Footballer Neymar Jr Bought Two NFTs For $1.1M For His Twitter Profile Picture.

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Disclaimer

The content is for informational purposes only and may include the author’s personal opinion, and does not necessarily reflect the opinion of TheCryptoBasic. All Financial investments, including crypto, carry significant risk, so always do your complete research before investing. Never invest money you cannot afford to lose; the author or the publication does not hold any responsibility for your financial loss or gains.

Ammarahttps://thecryptobasic.com/
Ammara Mubin is a cryptocurrency reporter and trader with vast experience in the industry. Mubin has written several news stories related to the crypto industry, including non-fungible tokens (NFTs), decentralized finance (DeFi), fundraising, mining, etc. Her major focus is covering regulatory events that are capable of shaping the entire crypto ecosystem.

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