While a number of people are focused on decentralized finance (defi), the non-fungible token (NFT) industry has also exploded in demand in 2020. Last week, NFT sales soared nearing a million dollars in volume, as the blockchain-based Sorare fantasy soccer card game saw over $221,000 in sales during the last seven days.
When Satoshi Nakamoto created the blockchain, the innovative technology allowed for permissionless money, but also a number of tokenization features as well. One idea called the non-fungible token (NFT), also known as a ‘nifty,’ has gathered a lot of steam since the verifiable digital scarcity concept was first introduced.
This year, the popularity of NFTs has jumped considerably, as the concept is seeing a massive amount of funds flowing into the industry.
Data from nonfungible.com shows that during the last seven days, there were 9,353 sales total and $988,649 in NFT trade volume. The average U.S. dollar price for a single NFT according to statistics is $105 this week.
The three biggest players in the NFT realm this week include Sorare, Cryptopunks, and Superrare. The fantasy soccer game Sorare allows players to collect “limited edition digital collectibles” while also managing a team, has seen $221,052 in sales this week.
Cryptopunks, the project with “10,000 unique collectible characters with proof of ownership stored on the Ethereum blockchain,” saw $182,619 in volume last week. Then the Superrare digital artworks marketplace sold $93,733 in the last seven days.
Superrare has sold rare digital artwork in 178 countries worldwide, there’s been over $565,000 earned by collectors and $1.8 million earned by artists to date. Trending artists include _totemical, godfreymeyer, sveneberwein, coldie, and giantswan.
A lot of sales during…