How Did NFTs Become So Popular? - Medium

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Disclaimer: I’m going to assume that readers of this article have a base level knowledge of crypto (e.g., you know what Bitcoin and Ethereum are). If that’s not the case, you may get a lot of terms referenced in this blog. Also, this is for edutainment purposes and is NOT financial advice. Always do your own research.

Non-fungible tokens (NFTs) went absolutely ballistic in Q1 2021.

I’m talking like, literally no one knew what the hell non-fungible meant, and now people like The Weeknd, Paris Hilton, and the Teletubbies are using it in everyday conversation.

I’m talking 26x volume growth YOY compared to Q1 2020, for $1.5B in sales.

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Source: DappRadar

I’m talking about a $69 million sale by digital artist Beeple and renowned auction house Christie’s, and hundreds of millions of VC dollars flowing into the space.

And I’m even talking an SNL skit about NFTs that itself was minted into an NFT…

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