NFTs Boost Contemporary Art, Blockchain Industry Grows

by in Blockchain News

blockchain industry grows

Interest in the blockchain and crypto industry has been increasing. As reported by data tracker DappRadar, the sector's quarterly growth is 25%, and yearly growth is 509%. In total, the number of Unique Active Wallets reached 1.54 M daily.

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Q3 was a diversified interval with the advancement of crypto gaming platforms, NFTs and DeFi. The sales volume of NFTs reached $10.67 bln, which means an increase of 704% from the previous quarter.

Per the report from art market information provider Artprice, NFTs boosted the contemporary art market growth with the actions surging to a new all-time high of $2.7 billion.

Two-thirds of the value of online sales and 2% of the total art market came from the NFT sector.

The NFT sold at the highest cost was the digital collage from Beeple called "Everydays: The First 5,000 Days". The auction was held at Christie’s, and ended on March 11 with the piece sold at $69.3 million.