NFT Market Surpassed $40 Billion in 2021, New Estimate Shows

Nearly $41 billion worth of cryptocurrency was sent to two types of Ethereum smart contracts associated with NFT marketplaces and collections from the beginning of 2021 through mid-December, according to a new estimate from blockchain analytics firm Chainalysis. From a report: The metric revises an estimate the firm included in a December report on NFTs that was based on data through mid-October, said Maddie Kennedy, a spokeswoman for Chainalysis.

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