NFT Market Cap Surges, Shows No Sign of Stopping

The NFT space is one of the wildest mania we have seen both in tech and the financial markets in a while. This year alone the market cap has exploded by 1,785% following the huge attention it received. It appears that non-fungible tokens are not going to slow down any time soon as the demand keeps rising.

Non-fungible tokens are not new again after receiving so much reception from artists and the whole crypto community. However, they are unique, non-exchangeable tokens that are built on the blockchain and they reflect the value of a particular digital artwork.

On March 31, Dapper Labs, the company behind NBA Top Shot, raised about $357 million from its funding round that was led by Coatue. The star-studded investment round featured the likes of Michael Jordan, Kevin Durant and high-profile celebrities like Will Smith.

In contrast, the total NFTs sales in March was worth way more than the sales the previous months combined. The total assets sold in March was over $200 million, while January was $12 million and February was $91 million. Data from CryptoArt reveals that the sales made from Nifty Gateway account for about 70% of the total sales made in March.

The digital artist Beeple still holds the highest sale after he auctioned off his “Everydays: The First 5000 Days” artwork for about $70 million. In a short while, there have been several other huge sales from artists, celebrities and even sports stars. Following the trend surge, NFT marketplaces have also experienced huge sales volume.

NFT Investments Plans to List Shares on Stock Market

NFT investments, an investment company that focuses on NFTs revealed on April 1, that it is considering launching its ordinary shares on the stock market. The floatation should drive the valuation of the company to about £25 million.

The company is set to launch the shares on the Access Segment of Aquis Stock Exchange Growth Market (AQSE) in London. This makes it the first company investing in NFT to launch on the stock market. The company aims to raise £10 million by issuing 200 million ordinary shares at £5 per shares.

 

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