Thanks to NFT, the art market is about to undergo a major change. As the internet enters the “Web 3.0” era, NFT will become more well-known. There is no doubt that the traditional art space will be affected.
The artist Beeple, whose work has been produced and sold for more than ten years, sold his digital piece “Everyday: The First 5000 ” for $69 million at Christie’s.
Since CryptoKitties was released in 2017, individuals have been adopting and selling cats using NFTs. Due to the game’s extreme popularity, the Ethereum network slowed down. CryptoKitties have prompted investors to enter the NFT market.
Over the past few years, NFT Marketplace like OpenSea and SuperRare have emerged along with a wealth of ecosystems and a booming market. A blockchain-based platform, NBA Top Shot, has sold $338 million since October 2020.