The year 2021 was undoubtedly the best year in terms of the growth of NFT industry. When the market capitalization of NFTs was recorded at the end of 2021, it had already tripled since 2020 and exceeded US$ 25 Billion. In this year, although only a couple of months have been passed, already the NFT economy has crossed the market cap of US$ 50 Billion. This means that in less than 5 months, the industry has more than doubled the market capital since 2021. This shows how huge this industry is and how benefitting and profitable it would be in the future.
Considering the profitability, the year 2021, also has other reasons for it to be named as the best year for NFT. In the same year, there were several NFTs which individually generated funds involving multi-million dollars. According to Ido Fishman, you can easily find 15 most expensive NFTs sold in 2021. However, with the purpose of giving you a brief of 2021’s sales, the highest sale value of an NFT was more than 62 Million Dollars. It was some achievement and in fact assures the investors’ confidence that NFT industry is not going anywhere and in fact it will continue grow without a fail.
In addition, the industry gives additional guarantee that even if the prices of cryptocurrencies are falling, yet NFT popularity has remain unchanged. Most importantly the industry remained unaffected by the crypto economy’s massive reduction which came in November 2021.