Cryptopunk boom drives NFT sales to nearly $ 2 billion in August
The Cryptopunk pictures are among the most successful NFT projects. (Photo: Rokas Tenys / Shutterstock.com)
The boom in NFT art like the cryptopunks has pushed sales of non-fungible tokens to record highs. Almost two billion US dollars are said to have been turned over in August.
The cryptopunks are considered the original NFT, as they were introduced long before the NFT hype, namely in 2017. The pixel image collection, which consists of around 10,000 individual images, only caused a stir last week when the payment provider Visa spent around $ 150,000 on one of the cryptopunks. The boom in the area of non-fungible tokens has resulted in a rapid increase in sales volume.
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NFT sales increased tenfold in August
In August alone, the largest NFT platform, Opensea, is said to have turned over $ 1.9 billion. This means that the total of sales has increased more than tenfold compared to the previous record month of May, such as Reuters reports. In May, NFT sales of $ 148 million were reported. For comparison: In January the sales volume was just eight million dollars.
However, the sales figures were driven by so-called second or resales. Incidentally, this also shows how hot the market has meanwhile been. As an example, Reuters brings about the NFT image of a cartoon monkey that has just been sold on Opensea for just under 125,000 dollars. According to data from the analysis platform Etherscan, the same account had only bought this NFT two weeks earlier for half the price.
An: e NFT owner: in, who sold the token of an abstract digital work for $ 3.3 million last week, is likely to have made even more profits. He or she had only bought this NFT work in June for a good $ 1,300. The most expensive NFT works of art in the past few days were according to the platform Nonfungible one of the cryptopunks, which went over the counter for around $ 4.5 million, and three Art-Blocks-NFT, which raised between $ 1.4 million and $ 2.8 million.
NFT boom: is the bubble bursting?
According to Dappradar, a total of 32 NFTs are said to have been sold for over a million dollars each in the past 30 days. Skeptics: like the financial market expert Every from Rabobank, see the NFT boom as a bubble that will definitely burst. Coinbase co-founder Fred Ehrsam, for example, believes that 90 percent of all NFTs will be worthless in three to five years.
