NFT sales are booming, but ownership is highly concentrated Author: Cointelegraph

This year, the transaction volume of non-fungible tokens (NFT) in various vertical areas has surged.

As of the fourth quarter of 2021, total NFT sales of collectibles and artworks have reached 7.4 billion U.S. dollars. The art NFT market has grown from US$17.8 million on January 1 to US$1.8 billion as of November 5, 2021. At the beginning of 2021, the total sales of the collectibles NFT market at the beginning was $55.5 million. Since then, it has soared to $5.6 billion.As Report According to Reuters, total NFT sales jumped from US$1.3 billion in the second quarter to US$10.7 billion in the third quarter.