Insights

NFT Sales Almost Hits $1 Billion This Past Week!

We are not in a bubble… Right? Well, we are currently seeing jpegs of apes sell for tens of millions dollars… Shoot… maybe we are in a bubble. 2021 saw NFT sales hit $14 Billion and this past week sales went over $920 Million. The crypto markets have had a pretty rough month and despite these Non-Fungible Tokens existing on the blockchain they survived the bloodshed with incredible resiliency. Bubble or not, it’s a trend at this point that new money investors should take as seriously as a heart attack, even if the whole thing is a joke. When you can buy an asset called an NFT for $100K and turn around and sell it for over a million dollars in a few months, who cares if the asset is a crappy pixel art portrait of a guy with a mohawk and cigarette? (Crypto Punks collection.)

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