NFTs ballooned to a $41 billion market in 2021 and are catching up to the total size of the global fine art market
- The market for non-fungible tokens surged to $41 billion in 2021, according to the newest metric.
- By comparison, sales in the conventional art market were about $50 billion in 2020.
- Traditional art auction houses like Christie's have begun selling NFTs to get in on the hypeThe market size for digital collectibles known as NFTs is catching up to that of the traditional art market.By the end of 2021, the marketplace for non-fungible tokens, which are digital pieces of art tied to blockchain technology, reached a $41 billion value
Sales from the crypto: Muse NFT album to become first new chart-eligible format in seven years
Industry figures hail ‘the future of music’ as rock band announce first album of its kind to qualify for official UK charts
When British rock band Muse release their ninth studio album, Will of the People, on 26 August, the NFT (non-fungible token) edition will become the first release of its kind to qualify for the charts in the UK and Australia. It is the first new format to be added to the charts since album streams in 2015.