NFT sales hit US$25 billion in 2021, but growth shows signs of slowing

10/1/2022 8:42:00 PM

NFT sales hit US$25 billion in 2021, but growth shows signs of slowing

NFT sales hit US$25 billion in 2021, but growth shows signs of slowing

LONDON : From cartoon apes to video clips, sales of NFTs reached some US$25 billion in 2021 as the speculative crypto asset exploded in popularity, data from market tracker DappRadar shows, although there were signs of growth slowing towards the end of the year.Prices of some non-fungible tokens, crypto a

LONDON : From cartoon apes to video clips, sales of NFTs reached some US$25 billion in 2021 as the speculative crypto asset exploded in popularity, data from market tracker DappRadar shows, although there were signs of growth slowing towards the end of the year.

Prices of some non-fungible tokens, crypto assets representing a digital item such as an image, video, or even land in virtual worlds, rose so fast last year that speculators sometimes 'flipped' them for a profit within days.The art world has been quick to cash in, with auction houses selling NFTs representing simple cartoons for millions of dollars with no physical objects changing hands. One NFT artwork fetched a record US$69.3 million at a Christie's sale in March.

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Orchid that was presumed extinct, new liverwort species among plant discoveries recorded in 2021More than half of the nine botanical discoveries recorded in Singapore in 2021 were made in Bukit Timah Nature Reserve.

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LinkedIn LONDON : From cartoon apes to video clips, sales of NFTs reached some US$25 billion in 2021 as the speculative crypto asset exploded in popularity, data from market tracker DappRadar shows, although there were signs of growth slowing towards the end of the year.Read now Please verify your e-mail to read this subscriber-only article in full The gift link for this subscriber-only article has expired.Singaporean politician Health Minister Ong Ye Kung addresses Parliament on Monday, 12 January 2022 (SCREENGRAB: Gov.LinkedIn SINGAPORE: A small ground orchid that was presumed extinct in Singapore and a species of liverwort that is"new to science" were among the botanical discoveries recorded in the country in 2021, the National Parks Board (NParks) said on Monday (Jan 10).

Prices of some non-fungible tokens, crypto assets representing a digital item such as an image, video, or even land in virtual worlds, rose so fast last year that speculators sometimes 'flipped' them for a profit within days. The art world has been quick to cash in, with auction houses selling NFTs representing simple cartoons for millions of dollars with no physical objects changing hands.99/month for the first 3 months. One NFT artwork fetched a record US$69. "The unvaccinated and under-vaccinated are still most prone to falling severely ill when infected," said Ong, who was responding   to a query from Hougang Member of Parliament (MP) Dennis Tan   on the breakdown of COVID-19 deaths.3 million at a Christie's sale in March. Get unlimited access to all stories at $0. Meanwhile, some of the world's top brands, including Coca Cola and Gucci, have also sold NFTs. During an environmental baseline study at Tengah Forest in 2020, scientists collected"a patch of herbs that superficially resembled the ornamental Dracaena species".

NFT sales volume totalled US$24.. How many are medically ineligible for vaccination? Leader of the Opposition Pritam Singh also asked how many Singaporeans and permanent residents respectively are deemed to be medically ineligible for COVID-19 vaccination.9 billion in 2021, compared to just US$94.9 million the year before, DappRadar, said on Monday. DappRadar collects data across ten different blockchains, which are used to record who owns the NFT. But as Members will appreciate, as the numbers get smaller, it becomes harder and harder to convince them," said Ong. (Graphic: NFT sales climb to US$11. "As part of efforts to conserve this species, some of the plants have been collected and planted in the Gardens' orchid nursery, where propagation by rhizome cuttings seems to be effective," it added.

6 billion in Q4 - DappRadar, https://fingfx.thomsonreuters. Last month, began as Singapore extended the national vaccination programme to cover over 300,000 children.com/gfx/mkt/xmpjobbnmvr/NFTper cent20salesper cent20climbper cent20toper cent2011.6per cent20billion.png) Estimates of volumes vary by different data provider, depending on what is included.  "This is due to a combination of reasons namely, children are less likely to develop severe illnesses when infected and we want to preserve, as much as possible, universal access to holistic education of children. (Photo: NParks/Xin Yi Ng) Amanita sculpta.

Transactions which take place 'off-chain', such as major NFT art sales at auction houses, are often not captured by the data. CryptoSlam, which also tracks multiple blockchains, said the 2021 total was US$18.3 billion. NonFungible.com, which tracks the ethereum blockchain only, put 2021 sales at US$15.5m tall.

7 billion. This means the money spent on NFTs in 2021 is roughly equivalent to the amount pledged at COP26 to help countries phase out coal, or the funding made available by the World Bank to buy and deploy COVID-19 vaccines. Sales peaked in August, then declined in September, October and November before picking up again in December, data from the biggest NFT marketplace, OpenSea, showed. This does not appear to be correlated with fluctuations in the price of cryptocurrencies, which are often used to buy NFTs, as bitcoin and ether rose in the September to November period. (Graphic: NFT sales on OpenSea, https://fingfx. 2.

thomsonreuters.com/gfx/mkt/dwvkrkkzmpm/NFTper cent20salesper cent20onper cent20OpenSeaper cent20peakper cent20inper cent20August.png) Around 28.6 million wallets traded NFTs in 2021, up from some 545,000 in 2020, DappRadar said. While some see NFTs as the future of ownership in the online world, buying NFTs as a vote of confidence in the development of"Web3" or the metaverse, others are baffled as to why so much money is being spent on items which do not physically exist. Hetaeria oblongifolia This small ground orchid, measuring 14cm to 20cm, was rediscovered during an environmental baseline study in Tengah Forest in 2020.

Just 10per cent of traders accounted for 85per cent of all NFT transactions, research published in the journal Nature said. (Graphic: Weekly NFT buyers - NonFungible.com, https://fingfx.thomsonreuters.com/gfx/mkt/mypmnbbazvr/Weeklyper cent20NFTper cent20buyers. The plant was first collected at Bukit Timah Nature Reserve during a survey of the area from 2015 to 2017.

png) While the most expensive known NFT sale was US$69.3 million, a common price range was US$100 to US$1,000, NonFungible.com said. Prices of the most sought-after NFTs were highly volatile. The average sale price of a CryptoPunk image rose from around US$100,000 in July to nearly US$500,000 in November. It is named after Dr Boon-chuan Ho of the Singapore Botanic Gardens, who collected the first specimens of it.

By December it had fallen to around US$350,000, CryptoSlam data shows. (Graphic: NFT price ranges, https://fingfx.thomsonreuters.com/gfx/mkt/mopanwwwmva/NFTper cent20priceper cent20ranges.png) Collectible NFTs were the most popular category, followed by art, NonFungible. (Photo: NParks/Paul Kiam Fee Leong) Ficus subulata.

com said. Some of the most eye-watering NFT sales have been for land in online metaverse environments. Virtual real estate investor Republic Realm bought land in the virtual world The Sandbox for US$4.3 million in November. (Graphic: Collectible NFTs are most popular, https://fingfx. A small population was first discovered in Bukit Timah Nature Reserve in 2019, consisting of likely only three individual plants.

thomsonreuters.com/gfx/mkt/zdpxoqqqovx/Collectibleper cent20NFTsper cent20areper cent20mostper cent20popular.png) (Reporting by Elizabeth Howcroft; Editing by Alexander Smith) Source: Reuters .