How the NFT market is developing

Discussion of the NFT blockchain tenlogy
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How the NFT market is developing


Investors and developers believe in the future of NFT.

Venture capital and crypto funds became interested in the sector at the beginning of 2018. So, Dapper Labs (developer of CryptoKitties) in 2017 first raised $ 12 million in funding, in 2018 another $ 15 million, and in 2019 another $ 11.2 million.

Game studios Rare Bits and Lucid Sight raised $ 6 million each, and Immutable (the developer of Gods Unchained) in September 2019 received funding in the amount of $ 15 million, Mythical Games - $ 19 million, and the OpenSea marketplace - $ 2 million.

Calculate the exact volume of NFT- market is difficult. Non-fungible tokens are not traded on conventional crypto exchanges - instead, they are bought or sold mainly for ETH on specialized platforms, fan sites, or inside computer games. The largest NFT platforms: Opensea, Nifty Gateway, Knownorigin, Makersplace, SuperRare.

Decrypt estimates that NFT trading volume in the summer of 2020 increased 57%, pushing the industry's value up to about $ 100 million.

According to Dune Analytics, monthly sales in The NFT sector exceeded $ 1-3 million in the summer alone, peaking at $ 6 million in September this year. However, according to the SuperRare art platform, in October alone, they sold over $ 4.34 million worth of digital works.

According to the NonFungible website, the total sales of the ten most popular NFT projects amounted to over $ 109.5 million, of which more than $ 1.8 million were received in the last 7 days alone. As you can see, the NTF market is still quite small. But more importantly, its volume is growing steadily.
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