NFTs grew in popularity in 2017 as a result of collectibles and the ERC-721 protocol. Sales surpassed 50,000 per week in the first year, then 80,000 per week from 2019 to 2020. In 2021, the NFT market drew even more attention when celebrities and influencers began purchasing and launching NFT things, while artists began selling more on blockchain platforms.
During cryptocurrency bull markets, demand for NFTs typically grows, and 2021 has been no exception. In March, sales surged to nearly 40,000 per week for the first time in the first quarter. The results didn't hold up for the remainder of the year, but in mid-May, they began to rise again.
But what are these non-fungible tokens, exactly? Let us first learn more about them and see How to Turn Physical Art Into NFT.