News

$8.2 Million Worth of NFT-Based Artwork Sold in the Last Month of 2020 as ETH Prices Rally

The non-fungible token-based artwork market witnessed a profitable end of 2020 with astonishing trading volume figures monthly compared to those seen during November.

Metrics Show $8.2 Million Worth of Crypto Artwork Sold in December

According to metrics revealed by Nonfungible.com, the volume in December of NFT artworks sold was $8,681,242.59, surpassing by far the $2.6 million traded over November 2020, according to the platform Cryptoart.io, almost triplicating the numbers.

The considerable surge comes within the context of a too-bullish crypto market in the last quarter of 2020, but most notable in December, which can explain part of the rally in trading volumes. In fact, the NFTs are often tradeable via ethereum (ETH), which as of press time, is exchanging hands at $1,081, according to markets.Bitcoin.com data.

As per the volume of tokens traded in December, Nonfungible.com metrics show that 11,783.005 ETH, 8,871,872.58 SAND, and 3,740,922.486 MANA were crossing the board during the last month of a turbulent year in the midst of the coronavirus pandemic.

The number of sales was 68,718 over the month, with an average price of $126.33. So far, Cryptoart.io figures unveiled that total crypto art value is set at $ 43,253,447.26 (43,009.583 ETH), with total artworks sold of 51,073.

NFT Marketplaces With the Best Trading Volumes in December 2020

Such analytics platform shows that NFT marketplace Nifty Gateway leads the ranking in December, with over $6.67 million worth of blockchain-based artwork sold over the month, followed by Superrare, with a trading volume of just $1.12 million, and Makersplace with $343,000 approximately.

Also, total NFT artists in December were 711, representing an all-time high in the industry, together with 1,480 collectors seen over the month.

Recently, news.Bitcoin.com reported a survey on non-fungible token trends within crypto users, which revealed that 47% of correspondents had heard of NFT. Among these, 63% of them had only a basic understanding of it, while 57% of them had never used them.

What do you think about the latest metrics on NFT-based artworks? Let us know in the comments section below.

Tags in this story
blockchain artwork, Marketplaces, NFT art, NFT Auctions, Non-fungible artwork, Non-fungible token (NFT)

Image Credits: Shutterstock, Pixabay, Wiki Commons

Purchase Bitcoin without visiting a cryptocurrency exchange. Buy BTC and BCH here.

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Read disclaimer
Show comments