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In the digital art frenzy, the price of NFT-related tokens soars – Altcoins Bitcoin News

Since the eruption of mania a few months ago, the crypto assets associated with the non-fungible token (NFT) market have risen sharply. The selling price of NFT is considered by many people to be absurd for intangible art.

The third largest art auction by a living artist is tokenized

A piece of art created by a digital artist is called “Beeple” (this is a collage of the artist’s work since 2007), and it was recently sold at Christie’s for a record $69.3 million. The JPG file became the third largest art auction for living artists after Jeff Koons and David Hockney.

According to the latest data from the blockchain research company Kaiko, NFT-related tokens have soared, in line with the record sales of digital art. Decentraland is a virtual world where players can buy NFTs, and its MANA tokens have surged by 682% since February 1.

NFT-related token prices soar in the digital art frenzy

The product token flow of Dapper Labs (a partner of NBA Top Shot in the NFT market) rose by 216% on March 13, reaching a high of $37.73. Rarible (RARI) rose by more than 825% from $4.11 on February 1, reaching a peak. The price on March 15 was $38.02. Over the same period, Enjin (ENJ) rose more than 640% to $2.61.

Kaiko said in his blog on March 15: “After digital artist Beeple auctioned irreplaceable tokens at Christie’s, the term’NFT’ has officially entered the pop culture dictionary.”

Sold a blockchain-backed NFT worth millions of dollars

Irreplaceable tokens have functions such as governance, utility, and rewards. They are also a barometer of NFT industry sentiment. According to the “The Tie” report, NFT mentions in the media have increased by more than 100 times compared with last year.

NFT craze may indeed be on the verge of madness. The New York Post reported that a Brooklyn man keen on making money, 36-year-old Alex Ramírez-Mallis (Alex Ramírez-Mallis) collected a year of farting from him and his friends, and then It is organized into a 52-minute “Master Collection” audio file.

Now, the highest bid for audio files is $183​​. The record of individual farting is 0.05 ether, which is $85. An anonymous buyer has bought a fart.

According to data from nonfungible.com, global NFT sales have exceeded $449 million since the start of such sales a few years ago. This was sold at an average price of US$82.97 out of 5.41 million works.

What do you think of NFT mania? Let us know in the comments section below.

Picture Credits: Shutterstock, Pixabay, Wiki Commons, Christie’s/Bipp: the first 5000 days,

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