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NFT sales in March hit a record level of over $200 million

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TL;DR Breakdown:

  • NFT sales in March exceeded over $200 million, over 1,500 percent increase since January.
  • Nifty Gateway recorded the most sales at about $140 million.

The non-fungible token (NFT) market has gotten bigger in terms of participates and valuation over the past year. Notably, the market peaked to mainstream from the beginning of the year, with sales increasing consecutively as more digital artists, musicians, celebrities, and others are learning, issuing, and selling their contents as NFTs. 

In March alone, the contents sold as NFTs were estimated to be worth over $200 million, which is far greater than the entire sales in the previous month. 

Over 1,500 percent increase in NFT sales since January

Although the sales have been increasing since January, the record today exceeds that of January and February combined. About $91 million in sales were recorded in February and $12 million in January, representing over a 1,500 percent increase when compared to March sales. Most of the sales were made on Nifty Gateway, the NFT marketplace owned by the Winklevoss brothers.

According to the market data by CryptoArt, Nifty Gateway accounted for about $140 million of the entire sales in March. SuperRare recorded about $30 million in NFT sales, followed by Foundation, MakersPlace, and so on. 

Following the growing popularity and traction in the market, one can easily predict that the sales are likely to increase further by the end of April.

NFTs frenzy

A number of digital artists have been able to bag millions by selling their masterpiece as non-fungible tokens. This includes the likes of Beeple, who sold his 5,000-day art collection for about $63 million. Recently, his CarbonDrop artwork was bought by Justin Sun, the founder of Tron blockchain, for over $6 million. These numbers are likely to be what’s driving more people to the market. 

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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