Posted Jan 17, 2022, 5:50 PMUpdated on Jan 17, 2022 at 5:55 PM
In just ten days, sales of “non-fungible tokens” or NFTs on the leading OpenSea platform have already exceeded $2 billion this year and against $22 billion for the whole of 2021. The giant Coinbase is preparing to diversify in this market, which has experienced a global speculative craze (rise in prices, surge in sales, expansion of the investor base) since 2020. These assets are certificates of authenticity and ownership associated with digital characters, works of he art, videos, music, games… They make it possible to monetise, exchange and speculate on all imaginable assets, in the virtual (metavers) or real worlds.
The current correction in the crypto and bitcoin market is not hampering sales and initiatives in the sector, but is weighing on the prices of this new, very dynamic segment of the crypto world. NFTs had held up quite well at the onset of the 2020 COVID crisis by playing a diversification role within the crypto market. They have not escaped the global fall in the markets since November. The currencies of the main start-ups in the sector (Axie Infinity, Sandbox, Theta, Decentraland…), which allow the acquisition of goods in their respective virtual worlds (metavers), have lost up to half of their value in two months.