Weekly NFT sales jump 20% to $246 million. These were the 5 best-selling digital collections
The cryptocurrency boom over the past few years has helped propel a newer market to record heights: digital collectibles known as NFTs. The craze has pushed total NFT sales volume to $25 billion over the past year as artists, investors, and entrepreneurs descend upon the nascent Web3 space.
NFTs, or non-fungible tokens, are unique, irreplaceable, mostly digital items that users buy and sell online.NFTs use blockchain technology to keep a digital record of ownership, similar to cryptocurrencies. They were first launched on ethereum, the same blockchain that supports the cryptocurrency ether, and most NFTs can still only be purchased using ether.
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