NFT sales go bonkers, nearly a billion dollars of NFTs sold this month

Non-fungible tokens or NFTs are shaping up to have a record month in sales as August's digital artwork sales approach $1 billion.

@JakConnorTT
Published Fri, Aug 27 2021 3:32 AM CDT   |   Updated Fri, Sep 24 2021 10:42 PM CDT

The sale of non-fungible tokens seems to be skyrocketing as a sales tracking portal has reported that total sales for this month are closing in on previously set records.

NFT sales go bonkers, nearly a billion dollars of NFTs sold this month 01 | TweakTown.com

According to the non-fungible token (NFT) tracking portal called Nonfungible, over the past 30 days, there has been $896 million worth of NFT sales. Projections expect that $896 million will reach $900 million by the end of August, setting a new record for the emerging industry. It should be noted that the previous best month for NFT sales occurred in May, when $255 million in NFTs were sold.

So, why are NFT sales up so much this month? Cointelegraph attributes the increase in NFT sales to the CrytoPunks and Axie Infinity. CryptoSlam reported that $397 million in CryptoPunk sales happened this August and that the average sale price for CryptoPunk digital artwork is $214,000, with the most expensive one selling for $11.5 million during a Sotheby auction in June. For more information on this story, check out this link here.

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NEWS SOURCE:cointelegraph.com

Jak joined the TweakTown team in 2017 and has since reviewed 100s of new tech products and kept us informed daily on the latest science and space news. Jak's love for technology, and, more specifically, PC gaming, began at 10 years old. It was the day his dad showed him how to play Age of Empires on an old Compaq PC. Ever since that day, Jak fell in love with games and the progression of the technology industry in all its forms. Instead of typical FPS, Jak holds a very special spot in his heart for RTS games.

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