In the first quarter of 2021 NFTs have been responsible for more than $1.5 billion in transaction volume, setting a new record. According to the Dapp Industry Report by DappRadar, we’re talking about an increase of 2,627% compared with the last quarter of 2020.
In Q1 2021 most of the transaction volume for NFTs happened on three marketplaces: NBA Top Shot, CryptoPunks and OpenSea. The results from NBA Top Shot are especially remarkable, as they generated $500 million in trading volume from their basketball collectibles. At the same time CryptoPunks has become the most premium collectible series, recording two $7.5 million sales in March amongst other high-value transactions.
Among these marketplaces OPENSEA is in third place. Users can buy and sell all kinds of NFTs from different creators, ranging from game assets to artworks. For example, NFT projects like Hashmasks, Euler Beats, Moon Cats Rescue and Picasso Punks have generated significant interest in the past three months.
By the end of March five Picasso Punks sold for hundreds of thousands of dollars. In addition Euler Beats launched their second collection yesterday, generating $3 million in master record sales alone. The hype surrounding NFTs is not cooling down, as more celebrities, brands and businesses step into the ring, ranging from Snoop Dogg, to football clubs, and from Aphex Twin to collectible card company Topps.
Read the full Dapp Industry Report Q1 2021
