The NFT market continues to expand at an extraordinary rate. The industry NFT is currently in a growth unstoppable phase. According to the newly released third-quarter report. The second quarter of 2021 saw a significant increase in active wallets and industrial activity. This trend is not to be overlooked and can expect to continue.
NFT, also known as non-fungible tokens, has seen significant growth in the past year. Third-quarter report 2021 shows that there as been considerable growth. You can closely monitor the growth of the encrypted collection market. Despite this, the industry is at a dynamic stage. Also, it caught the attention immediately of a large number of Iranians who have cryptocurrency enthusiasts.
A spike in active wallets is also evident in the quarterly report. It also shows an increase in the number of NFT buyers. The report also shows that the total number of sellers rose faster than the number of industry buyers.
Trading Volume NFT Fly up
Additionally, the irreplaceable $782million earn in the second quarter of the exchange token dollar figure. In the third quarter, however, that number increased to $5.9billion. The researchers found that even though the volume of US Dollar transactions reached an all-time high at the end of August.
There was a significant increase in active wallets. Not only wallets but also the daily transaction volume of around US$91 million has seen a significant increase in just a few months.
Researchers found that trading volumes for weekly were almost three times higher after the spike than before.
NFT Activity Continues Growth Is Unstoppable
The third quarter of 2021 saw the NFT market breaking the previous recorded quarterly indicators. The demand for these tokens increased throughout the year. This will require a natural trend. Nonfungible.com release its third-quarter report, which covers the entirety of the third quarter. The report shows that NFT industry growth is an unstoppable indicator that continues to increase.
The number of active wallets that perform transactions on NFT should note. The number of wallets interfacing with a non-homogeneous smart contract token is also important.
The increase in active wallets from 203 719 in the first quarter to 412 578 wallets during the third quarter was more than 102%. However, NFT token buyers increased by 166%, jumping from 97,658 to 260,489 during the second quarter.
In addition to the statistics above, it is important to note that the number of sellers increased from more than 40000 to almost 123000 and by more than 206% in this quarter.
Sport, Games, Art, and The Creative Industries
Observe the loyalty of the sector. Meta Verse customers are the most loyal. According to the report, industries like arts, sports, and games monitor digital collections. Loyalty problems are therefore rare when such make a request.
Additionally, 76% of all total sales make by this token. Contrary to this, 9% are concentrated in the art industry. Sports collections aren’t as impressive as other collections.