Crypto Collectibles Are A New Big Thing: Over $100m In NFTs Sold In One Month

Crypto Collectibles Are A New Big Thing: Over $100m In Nfts Sold In One Month
Crypto Collectibles Are A New Big Thing: Over $100m In Nfts Sold In One Month
  • Crypto collectible trading appears to be the new emerging trend in 2021.
  • So far, there was over $100 million in NFTs sold in the past month.
  • The most popular product is NBA Top Shot NFTs, followed by Hashmasks and CryptoPunks.

Trends come and go quickly in the crypto sector, and spotting the new ones early on requires quite a bit of attention. One of the newest ones, however, seems to be Non-Fungible Tokens (NFTs), which have seen a major sales boom in the last 30 days. Some of the biggest marketplaces have hit new records in terms of NFT volumes.

NBA NFTs are the Most Popular Ones

According to a recent announcement by Matt Huang — the Co-Founder of a crypto investment firm, Paradigm — the NFT marketplaces are exploding right now. He posted data from CryptoSlam, showing that the large portion of trading has shifted to the secondary markets. 

In other words, crypto-collectibles are bigger than ever, hitting a new milestone of $100 million in volume in a single month.

The data shows that a basketball-based collection of NFTs from October of last year, NBA Top Shot, is the set of coins that have been traded the most. These NFTs saw $63.5 million exchange hands in the last 30 days and $5.8 million in only 24 hours.

These particular NFTs are the first time that the NBA entered into a blockchain-based licensing deal, and its associate VP for licensing, Adrienne O’Keeffe, stated that the NBA believes that blockchain has ‘staying power.’ As such, it holds a lot of promise for the business, as OKeeffe says.

Other Most Attractive Projects

Apart from the NBA, other top NFTs include Hashmasks and CryptoPunks. Hashmask is based in Switzerland, and it offers unique digital portraits that were created by a major collective consisting of over 70 artists. It saw $8 million in sales in the last week alone.

As for CryptoPunks, it offers 24×24 pixel art images that were created algorithmically. It saw a massive surge in sales in the last 24 hours ($1.5 million) and $13.4 million in the previous seven days.

Apart from art, NFT market also saw a surge in virtual land sales, particularly in the Axie Infinity metaverse, which saw a new record of $1.5 million sold last week, on February 8th.