Since the beginning of 2021, the NFT sector has grown in size and has become a multi-billion dollar space within the crypto-verse. The nonfungible token sector has been growing in size without any limitations and it has been covering more grounds every passing week.
The nonfungible token sector is constantly evolving and it has proven to be an extremely lucrative industry. The nonfungible token technology has been adopted not only by individual investors but mainstream institutions as well.
It was in August of 2021 when the nonfungible token sector showed its true potential when it processed trades worth over a billion dollars. From that point onwards, the nonfungible token industry hasn’t looked back for a minute. The industry is constantly growing larger and it is attracting even more investors.
As of now, the nonfungible token sector has become so much attractive that even several cryptocurrency exchanges have adopted the technology. At present, some of the major cryptocurrency exchanges that have adopted NFT technology include Binance, FTX, and Coinbase.
They have launched their own marketplace for nonfungible tokens, which is playing a huge role in setting up a new stage for the entire NFT sector. At present, a couple of the largest marketplaces for the nonfungible tokens include Rarible and Opensea.
Another major cryptocurrency exchange known as Blockchain.com has recently announced that it has also launched a new marketplace for non-fungible tokens.
The exchange officials have announced that they are very excited to have launched their own marketplace for nonfungible tokes. They way, they will be able to bring in more crowds and users to their platforms.
The development team behind the launch of the Blockchain.com NFT marketplace has announced that the marketplace will be available as an all-in-one solution for users. It would allow users to carry out sales and purchases for nonfungible tokens. Furthermore, the users will be able to store their nonfungible tokens on the same Blockchain.com Wallet. At present, the application is in its beta version, meaning testing is being carried out on its protocol.
The platform has also announced the launch of NFT explorer. Through the particular feature, the users will be able to gather information surrounding nonfungible tokens.
This is going to be yet another major development in the nonfungible token sector. It is going to boost the performance and demand for nonfungible tokens in the market.
As of now, the overall market capitalization of the nonfungible token sector is over $66.50 billion. Its currently exhibited trading volume is over $21.02 billion. The major nonfungible tokens within the space include COCOS, GALA, CEEK, AXS, SAND, BAKE, VRA, TLOS, MANA, and WEMIX. Since the beginning of 2021, the growth these NFTs have exhibited stands at 982636.42%, 56,196.22%, 35659.79%, 19858.02%, 16,058.75%, 8,625.33%, 7,457.59%, 5,473.58%, 4,704.84%, and 4,633.60% respectively.
With the new marketplace launched, more nonfungible tokens will be introduced. This would increase the demand and supply for the NFTs even more.