NFTs, or non fungible tokens, can be almost anything in the digital space, including a picture of art, meme or video. These tokens are often bought with cryptocurrency.
Although NFTs are a relatively new trend, they are increasing in value rapidly and are reaching mainstream markets. In November, Sotheby’s held the largest NFT auction to date, the proceeds of which were donated to public health nonprofit Sosento, which helps front-line workers.
Some hospitals have also begun accepting cryptocurrency as payment, and others are considering following suit.
In 42matter’s report, the company found Binance was the most used NFT marketplace on the Google Play app, racking up more than 7 million users in December. In addition to trading NFTs, the Binance app also cryptocurrencies such Bitcoin and Dogecoin.
OpenSea and NFT Creator were the second most popular NFT marketplace, racking up over 1 million and 500,000 downloads respectively. In the analysis, it added that “demand for NFT marketplaces is exploding and competition in the space is wide open.”
