Non-fungible tokens, or NFTs have become wildly popular. So much so, “Sales jumped to more than $2.5 billion in the first six months of 2021, according to digital analytics firm DappRadar. The figure reveals the explosion in popularity for the digital tokens this year, evidenced by the fact that NFT sales in 2020, per DappRadar calculations, stood at just $94 million,” as reported by Insider Monkey.
Some of the companies capitalizing on the NFT craze include ESE Entertainment Inc. (TSXV:ESE)(OTC:ENTEF), Twitter, Inc.(NYSE: TWTR), Cloudflare, Inc. (NYSE: NET), Mattel, Inc. (NASDAQ: MAT), Dolphin Entertainment, Inc.(NASDAQ: DLPN).
“NFTs are a form of cryptocurrency like Bitcoin, only instead of holding money, they contain assets like art and music,” added EuroNews.com. For example, “Kings of Leon became the first band to issue NFTs. They are selling three different tokens: one with their new album, another with live show perks like front row tickets for life, while a third contains exclusive audiovisual art. Clips of NBA star LeBron James dunking are selling for as much as $225,000.”