Non-fungible tokens (NFTs) are widely gaining more popularity in the blockchain space. Big companies like Formula 1, Ubisoft, Samsung, Nike, among others, are now adopting NFTs as an indispensable token for storing crypto collectibles, digital art works, virtual lands, and virtual games.
This move has seen an increase in the demand for NFTs which is supported by the research from Nonfungible.com, stating that sales of NFTs currently sits close to $100 million.
“Nonfungible.com stats show that as of July 5, 2020, the total sales of NFTs is around $96.1 million so far. And with an average price of $20.90 per NFT”
The above only means that in a short while, the market for NFTs is going to hit the billion dollar, or perhaps trillion dollar price mark, thus making NFTs the next “big thing” in the blockchain space.