The non-fungible token-based artwork market saw a profitable result at the end of 2020 with astounding monthly trading volume numbers compared to November.
Metrics show that $ 8.2 million worth of crypto artworks sold in December were sold
According to data from Nonfungible.com, the volume of NFT artwork sold in December was $ 8,681,242.59, far exceeding the $ 2.6 million traded in November 2020, according to platform Cryptoart.io, which operates the Numbers almost tripled.
The sizeable increase is due to an overly bullish crypto market in the final quarter of 2020, but it is most notable in December, which may explain part of the rally in trading volume. In fact, the NFTs are often tradable on the Ethereum (ETH), which at press time is trading hands at $ 1,081, according to Markets.Bitcoin.com data at press time.
Based on the volume of tokens traded in December, Nonfungible.com metrics show 11,783.005 ETH, 8,871,872.58 SAND and 3,740,922,486 MANA crossed the board in the final month of a turbulent year amid the coronavirus pandemic.
The number of sales for the month was 68,718, with an average price of $ 126.33. So far, Cryptoart.io numbers have shown the total value for Crypto Art is set at $ 43,253,447.26 (43,009,583 ETH) and a total of 51,073 artworks have been sold.
NFT marketplaces with the best trading volumes in December 2020
One such analytics platform shows NFT marketplace Nifty Gateway topped the list in December with blockchain-based artwork valued at over $ 6.67 million, followed by Superrare with a trading volume of just $ 1.12 million and Makersplace with approximately $ 343,000.
Also, a total of 711 NFT artists were represented in December, an all-time high in the industry, along with 1,480 collectors seen during the month.
Recently, news.Bitcoin.com reported a survey on non-fungible token trends among crypto users, which found that 47% of correspondents had heard of NFT. Among these, 63% only had a basic understanding of it, while 57% of them had never used it.
What do you think of the latest metrics for NFT-based artwork? Let us know in the comments below.
Photo credit: Shutterstock, Pixabay, Wiki Commons
Disclaimer of liability: This article is for informational purposes only. It is not a direct offer or an invitation to make an offer to buy or sell, or a recommendation or approval of products, services or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author are directly or indirectly responsible for any damage or loss caused or allegedly caused by or in connection with the use or reliance on any content, goods or services mentioned in this article.
