With $2.4 Billion in Transactions, NFT Market Defies Expectations in Second Quarter of 2021
The price of Bitcoin is down but, contrary to conventional wisdom, the market for NFTs has not faded. The NFT phenomenon dominated the first quarter of 2021, culminating on March 11th with Beeple’s record price of $69 million at Christie’s. A month later, in mid-April, the price of Bitcoin reached its apex around $63,500. Since then Bitcoin’s dollar price has dropped by more than half. Nevertheless, NFT sales have not just remained on par with the pace of the first quarter of 2021, according to a Dapp Industry Report, but exceeded them in the second quarter.