All about Crypto & Blockchain

NFT Tokens and Their Increased Popularity


Remember the time when NFT’s digital tokens were selling for millions at the start of 2021? If you don’t remember this, it might be time for you to look into these digital assets.

Thanks to CryptoSlam, Cryptopunk’s (NFT project) monthly sales reached their peak in August at $378.27 million. Even Visa has bought a CryptoPunk NFT. The trend of digital art has become so prevalent that many famous companies have been trying to acquire one.

You must have seen news and reports on the trends of these tokens. There are a few factors that have pushed the art tokens into mainstream news. According to the creator of CryptoPunks, Larva Labs, Visa bought a CryptoPunks token for $150,000. This led to the creation of a big, delirious blitz in the market of NFT.

The day Visa purchased an NFT, about 300 transactions were made. Usually, there are only 15 to 50 transitions every day. However, it can’t be said for sure that Visa’s move is the driving force behind this craze for NFT. There is another facet responsible for bringing NFTs into the limelight. NFTs are becoming well adopted and mainstream. As they are reaching a bigger audience, they are attracting potential investors from a wide range of sectors.

Digital art is a relatively new trend but has taken the world by storm. Needless to say, in a small amount of time, NFTs have managed to create a strong following, especially among aestheticians. Their increased popularity suggests that digital tokens will stay in the market for a very long time.

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