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There are now over 600k unique Ethereum NFTs on the market

The crypto sub-sector saw a reasonable boom last year. And it’s only increasing.

Ethereum and the rise of NFTs

The non-fungible token (NFT) market grew by leaps and bounds in the past year, seeing a brief growth in mid-2020 and a sudden rise in September. And now, there are over 630,000 such wallets that have been involved in some way in the sub-sector.

Alex Atallah, the CEO of NFT platform OpenSea, said in a tweet this morning, “There are now over 630,000 distinct wallets that have created NFTs or semi-fungible tokens (ERC721 or ERC1155).”

He compared the numbers to the internet’s rise in the late-90s, stating that at the time, only 23 blogs were “live” on the web in 1999, while six years later, that number expanded to over 50 million.

There are now over 630,000 distinct wallets that have created NFTs or semi-fungible tokens (ERC721 or ERC1155) To put this in perspective: the number of blogs on the web was 23 in 1999. Six years later, it was 50 million Source: — Alex Atallah (@xanderatallah) January 11, 2021

Non-fungible tokens are used to create verifiable digital scarcity, as well as digital ownership, and the possibility of asset interoperability across multiple platforms. They majorly find their applications in art, collectibles, and gaming, but can be used to prove the ownership of just about anything.

Gaming-related NFTs made their appearance after 2016, when Bitcoin-based trading cards, issued by projects like Age of Chains and Rare Pepes, made the rounds. Later on, the launch and popularity of Ethereum saw the NFT market grow further.

June 2017 saw the launch of the “punk” character trading platform CryptoPunk. Later that years in October, was built from the CryptoPunks model and launched the first marketplace for rare digital art.

Punk 4669 bought for 14.99 ETH ($20,933.23 USD) by 0xaae8c5 from 0xbc5e8b. #cryptopunks #ethereum
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