The number of transactions involving non-fungible tokens in January 2023 increased by almost 40% compared to December last year

The market for non-fungible tokens looks like it could get a new round of development. Earlier, Elon Musk posted a picture with a meme on social networks, which is about the Milady token.

“There is no meme. I love you,” the image’s text reads.

According to NFT Price Floor, against the backdrop of the publication, the trading volume of these NFTs increased by almost 2000% in 24 hours, and the number of sales increased by about 1300%.

The maximum rate of Milady also increased by 104%. The token is traded in a fork from 3.68 ETH to 30 ETH.

The NFT industry continues to attract large companies. The VKontakte network already supports the technology. And in the future, the platform is ready to expand the possibilities of using NFT.

This spring, VK social network launched a drop of its own NFT collection for the first time. 90% of the tokens were sold out by network users in 30 minutes. The collection, consisting of 8 thousand coins, was sold in less than an hour. More than 3 thousand people turned out to be owners of NFT from VKontakte.

Non-fungible tokens continue to gain popularity. For example, in the early summer of last year, the volume of NFT transactions amounted to $1 billion, after which there was a predictable decline in the industry, which lasted until the beginning of 2023.

The number of transactions in January compared to December last year increased by almost 40%, and the trading volume exceeded $946 million. And we are talking only about “clean” transactions, which are not doubtful in the context of fake sales to increase the rates of non-fungible tokens.

At the beginning of the year, the possibility of issuing NFTs also appeared in the BTC network using the Ordinals protocol. The number of such tokens has already crossed the 1 million mark.

Among the key NFT trends for the near future are the music and gaming industry, metaverses, artificial intelligence and visual arts. In addition, non-fungible tokens remain collectibles.

Large companies are also interested in the development of NFTs. Sony plans to use tokens in games, Amazon is preparing to launch an NFT marketplace. Fashion houses such as Gucci and Louis Vuitton have released their own collections before.

What do you think about the development of the NFT market?