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NFT Business Growing: The Average Value Increased From $25 To $913

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For some time now, the name of NFTs has been very much discussed in the market. From sportspersons to Bollywood celebrities are also launching NFTs, i.e. Non-Fungible Tokens. Apart from this, a significant number of people are also preparing to tackle them. People who want to earn money are now showing interest in this digital asset (Digital Token).

NFT searched on Google more than crypto this year

ACCORDING TO THE COLLINS DICTIONARY, an ET Now report states that NFT has become the most used word in 2021. Not only this, according to Google Trends, more NFTs were searched on Google than crypto this year. At present, the market cap of NFTs has reached 700 million dollars. The craze of NFTs can be easily understood in such a way that its average price on 1 January 2020 was $ 24.98, which increased to $ 913.48 on 30 November 2021.

Monthly sales from $400 million to $2 billion

Apart from this, in the first month of this year, the monthly sale of NFT was about $ 400 million, which has now increased to around $ 2 billion. This year’s top-5 NFTs include The Merge ($91.8 million), Everyday- The First 5000 Days ($69.3 million), Human One ($28.9 million), Cryptopunk 7523 ($11.75 million) and Cryptopunk 3100 ($7.67 million). ) Are included.

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What is NFT, after all?

NFTs, i.e. Non-Fungible Tokens, are a type of digital asset or data, and it is recorded on the blockchain. NFT is a type of digital token. In this, you can monetise images, games, videos, tweets by converting anyone to NFT.

Its most important thing is that these digital assets are only bought and sold through cryptocurrencies. The Non-Fungible Tokens is unique as it has a unique ID code. That’s why two NFTs can never match each other. Also, they cannot be made duplicates.

Note that most NFTs are created on Ethereum, and they can be sold and bought just like any other asset. If you also want, you can make and sell NFT yourself. Along with this, you can earn its royalty. It does not require any middlemen.

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Ashish Kumar Mishra
Ashish Kumar Mishrahttps://www.spotnews18.com/
Ashish Kumar Mishra is the Founder and CEO at Spot News 18. He created Spot News 18 on 30 June 2019. His intention to make these News Websites was only to provide correct and official news to his readers. Now, he is working on Spot News 18 to expand his website reach to all parts of the world.

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