It’s hard to grasp just how much the NFT market has grown in the span of a year.
Earlier in this piece, we noted that OpenSea alone was on track to surpass $27.5 billion in volume for 2021. Should the company hold on to its 97% market share, that suggests a total annual GMV of $28.4 billion.
NFT sales in 2020 were $94.8 million. That’s a 30,000% increase year over year. Our brains are not made to comprehend this kind of growth, this sudden gigantism. In the blink of an eye, NFTs have matured from a nettlesome triviality to a strolling behemoth.