NFT Economy Grows Exponential: $1M in Non-Fungible Token Sales Last Week

NFT Economy Grows Exponential: $1M in Non-Fungible Token Sales Last Week


While a number of people are focused on decentralized finance (defi), the non-fungible token (NFT) industry has also exploded in demand in 2020. Last week, NFT sales soared nearing a million dollars in volume, as the blockchain-based Sorare fantasy soccer card game saw over $221,000 in sales during the last seven days.

When Satoshi Nakamoto created the blockchain, the innovative technology allowed for permissionless money, but also a number of tokenization features as well. One idea called the non-fungible token (NFT), also known as a ‘nifty,’ has gathered a lot of steam since the verifiable digital scarcity concept was first introduced.

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This year, the popularity of NFTs has jumped considerably, as the concept is seeing a massive amount of funds flowing into the industry.

The top ten non-fungible token platforms this weekend according to nonfungible.com.

Data from nonfungible.com shows that during the last seven days, there were 9,353 sales total and $988,649

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