Current NFT Market
NFT Market Overview
NFT has opened a new way in the digital world with technology that can distinguish the original from the copy. According to a new report from NonFungible.com, over $2 billion was spent on non-fungible tokens (NFTs) during the first quarter of 2021, an approximately 2,100% increase over the fourth quarter of 2020. In the first three months of 2021, there were twice as many NFT buyers as sellers. Therefore, this NFT market can be seen as having great potential for K-content creators as well. When someone buys an NFT, they own the content. What he/she has is digital ownership certification (IP-Intellectual Property Rights) of digital content. It makes these NFTs precious and rare. Although the NFT market is still in its infancy, millions of people are participating worldwide and many large investment institutions are participating in the field. The NFT market will grow faster than ever in terms of trading volume and market capitalization. According to NonFungible.com, there were 73,000 NFT buyers and 33,000 NFT sellers in Q1 2021.
This gap has helped drive prices up. Additionally, there is tremendous interest from newcomers and a good look at the reality of owners' desire to retain their assets, which creates a scarcity in the market. And, according to Forbes, in less than three months from the start of 2021, the market capitalization of major NFT projects has increased by 1,785%.
The NFT market sees significant investment from companies, funds, exchanges and traditional venture capital firms in both cryptocurrencies and technology. Based on these current growth rates, the NFT market will certainly represent a large part of the global digital goods economy.
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