NFT gross sales have been over $ 2 billion for the primary quarter, with curiosity from newcomers

A person takes a photo in front of a piece of Mashkov during a press preview on March 25, 2021 of the opening of Superchief Gallery NFT, a physical gallery dedicated solely to NFT (non-fungible tokens) artwork in New York.

Timothy A. Clary | AFP | Getty Images

According to a report by NonFungible.com, sales of digital non-fungible tokens rose to more than $ 2 billion in the first quarter – more than 20 times the volume in the previous quarter.

According to the website that tracks NFT transactions and marketplaces, there were $ 93 million in transactions in the fourth quarter of 2020.

The total for the first quarter does not include sales of NBA Top Shots – the video highlights that are converted into NFTs and traded. These were traded on the Flow platform and generated revenue of $ 472 million in the first quarter, according to NonFungible.com. It also excludes the $ 69 million NFT that Beeple sold at Christie’s in March, as it was traded through a partnership with Nifty Gateway.

Despite recent data showing a sharp drop in average prices from February, early year sales of NFTs showed an explosion of interest and buying. NonFungible.com said there were more than twice as many buyers as sellers in the first quarter, with 73,000 buyers for 33,000 sellers. According to the company, the imbalance is “a signal of the massive interest in newcomers, but also of the desire of the current owners to keep their assets, leading to a phenomenon of market scarcity.”

A digital work of art with scooter front man HP Baxxter is being auctioned on a website. Scooter will be the first band in Germany to release digital, animated works of art for the new Scooter album “God Save the Rave” from April 9th. The artwork receives a certificate of authenticity with NFTs, Non-Fungible Tokens, which cannot be tampered with.

Jens Kalaene | Image Alliance | Getty Images

There were nearly 150,000 active wallets in the first quarter – more than 1.5 times the number a year ago.

According to NonFungible.com, the industry is largely dominated by the art and collectibles segments, especially projects like CryptoPunks and SuperRare.

Despite recent price cuts from February highs, NonFungible.com said the average price for NFTs “rose significantly” during the quarter. An artwork on SuperRare sold for an average of $ 1,231 in the fourth quarter and $ 6,585 in the first quarter in the secondary market.