Skip to content

NFT Market Surpassed $40 Billion in 2021, New Estimate Shows

NFT Meebit #1637 by Larva Labs near to a physical representation of the Meebit series arranged, during the press preview of the Portrait of an Era exhibition, at the House of Fine Art Gallery in London.

NFT Meebit #1637 by Larva Labs near to a physical representation of the Meebit series arranged, during the press preview of the Portrait of an Era exhibition, at the House of Fine Art Gallery in London.

Photographer: Chris J. Ratcliffe/Bloomberg
From

Nearly $41 billion worth of cryptocurrency was sent to two types of Ethereum smart contracts associated with NFT marketplaces and collections from the beginning of 2021 through mid-December, according to a new estimate from blockchain analytics firm Chainalysis Inc. 

The metric revises an estimate the firm included in a December report on NFTs that was based on data through mid-October, said Maddie Kennedy, a spokeswoman for Chainalysis.