By Mark – Bitcoin Broker - 25/12/2021
Cryptocurrency exchange platforms are receiving more and more interest from investors. Given the increased knowledge and engagement in the industry over the year, the Non-Fungible Token (NFT) sector saw a huge surge in visibility in 2021. The rise in global online searches for NFTs, demonstrates an increasing popularity for digital collectibles and artworks, with transactions on OpenSea topping $10 billion for example, is one of the most prominent indications for the growing interest in new asset class.
The increase in demand for NFTs can be observed in almost all corners of our online and digital activities. Prominent consumer brands such as Nike and Adidas entered the Metaverse NFT sector. Entertainment platforms and games in the NFT space, such as Axie Infinity and Sorare, were crucial in helping players learn about crypto and NFTs while also allowing them to trade and receive profits. Celebrities including Steve Aoki, Snoop Dogg, Michael Jordan and Mila Kunis also market their NFT collections to the general public, as Bitcoin investments are becoming a popular asset class for celebrities to get behind.
Another significant aspect in this rise is that the majority of NFT revenues go to humanitarian or non-profit groups, who utilise them to carry out philanthropic activities like establishing campuses across Africa. Cryptocurrency holders also get stunning artwork. In America, however, they may deduct their gifts from their earnings or revenue to reduce their taxes, creating in a win-win situation for all sides. NFTs enable artists all around the world to demonstrate their skills without the use of physical displays or studios. Users looking to invest in NFTs often buy Ethereum to have funds for their chosen NFT marketplace.
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