NFTs, or non-fungible tokens, have been a hot topic since their inception in 2017. These digital assets are unique and cannot be exchanged for any other asset of equal value, making them highly sought after by collectors and investors alike.
NFT Market Overview
Before we dive into the question of whether NFTs are still being sold, it’s important to understand the current state of the NFT market. According to CryptoSlate, as of August 2021, the total sales volume of NFTs has reached $3.8 billion, with over 45 million NFTs traded in the last year alone. This is a significant increase from just a few years ago when the first NFTs were sold in 2017.
NFT Market Trends
One of the major trends in the NFT market is the increasing popularity of digital art and collectibles. In recent months, there have been several high-profile NFT sales of famous paintings and pieces of music, with some fetching millions of dollars at auction. This has led to an increase in demand for NFTs, as more people look to invest in unique and valuable digital assets.
NFT Market Growth
Despite the recent popularity of digital art and collectibles, the overall growth of the NFT market has slowed down somewhat in recent months. According to CryptoSlate, sales volume dropped by 72% between May and June 2021, and the price of NFTs also decreased during this time period. However, it’s important to note that this is a normal fluctuation in the market and doesn’t necessarily mean that NFTs are no longer being sold.
Summary
In conclusion, while the NFT market has slowed down somewhat in recent months, there is still evidence to suggest that NFTs are still being sold at a significant rate. With the growing popularity of digital art and collectibles, it’s likely that the demand for NFTs will continue to increase in the coming years. As such, anyone looking to invest in NFTs should keep an eye on market trends and be prepared for potential fluctuations in sales volume and prices.