How, then, do NFTs work, and are they disrupting particular industries in 2022?Ĭryptocurrencies, NFTs, and the metaverse all featured in a January 2022 webinar created and hosted by Statista, called "The cryptoverse - cryptocurrencies becoming mainstream". The sales development of CryptoKitties – a project that involves randomly generated pictures of cats - can be retraced back to 2017. The digital tokens were not new, however. NFTs first grabbed headlines in March 2021 when the crypto art piece First 5000 Days from Beeple became the most expensive NFT in the world at 69 million U.S. By late 2022, the daily market size of NFTs on Ethereum was much lower than in 2021. A buzzword including digital artwork, animal pictures, trading cards, music, and online gaming, NFT or non-fungible tokens became a major digital topic throughout 2021.
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