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Most NFTs function right now as digital collectibles, traded on marketplaces like the ever-popular OpenSea.
The site saw $3.4 billion in trading volume in August, 10 times the trade volume in July.
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That kid who created his own $400,000 NFT project, Benyanub Ahmed, joined another successful NFT group. Together, their sales volume moved past the $5 million mark after just three weeks.
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The value of investment into the NFT art market has increased significantly, jumping from $31 Million to $755 Million.
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BAYC has 10% of the total market cap of NFTs, this project has been at the center of the conversations about copycats.
This sudden surge comes just as NFT innovators are beginning to reimagine what it means to engage in online collection or digital ownership.
'Flatlining' may not be the order of the day, but there are certainly some significant developments in the NFT market.
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Goldman Sachs has announced they are exploring NFT's- Why? Despite being a playground for collectibles, for some its the logical next step for incumbents.
Co-Founder of Solana, Anatoly Yakovenko, announced the launch of Saga, an Android Web3-based smartphone and SMS software kit.
Soulbound tokens, with their air of myth and legend, have very real applications that could significantly disrupt the finance sector, bringing decentralization to DeFi and creating a whole new way of thinking about society.
Quontic punches above its weight 13 years after launching as a community bank on Long Island, and it recently launched in the metaverse.