NFT sales pull in over $2B in first quarter of 2021: Report
Yahoo Finance's Sibile Marcellus breaks down soaring first quarter sales for NFTs as the NFT space saw twice as many buyers and sellers.
Video transcript
KRISTIN MYERS: NFT demand is soaring as NFT sales-- that's non-fungible tokens-- top $2 billion in the first quarter of this year. We've got Yahoo Finance's Sibile Marcellus here with all of the details. Hi, Sibile.
SIBILE MARCELLUS: That's right, Kristin. So NFT sales are all the rage right now. There's so much enthusiasm, so many people who just want to bite. So we're seeing is that NFT sales, they hit more than $2 billion in the first quarter. Now we're talking $93 million in transactions in the fourth quarter of 2020. And that's according to nonfungible.com.
Now here is what's not included in that amount. NBA Top Shots-- now that's video highlights that are turned into NFTs and traded. That brought in $472 million in sales during the first quarter-- not being counted. And the other one not being counted is $69 million sale of an NFT by Beeple at Christie's in March. So excluding those, it's still over $2 billion. So that really talks about all the encouragement and enthusiasm about NFT sales. And although the prices came down from their highs in February, we're seeing NFTs are still going super strong.
KRISTIN MYERS: All right, thanks so much, Sibile. We need to get started on selling some of those NFTs as the demand continues to rise.
