NFT Market Status

II-2. NFT Market Status

01. First NFT

The beginning of NFT is a game called CryptoKitties, released by startup Dapper Labs in 2017, which collects and breeding cats with different characteristics online. Each cat is NFTized and given its own serial number, and users can buy and sell cats with cryptocurrency. In particular, the most expensive cat character, Dragon, was traded to 600 Ethereum (ETH) at the end of 2017, and it has attracted so much attention that it has reached 1.3 billion won at the current 2021.4 market price.
Dapper Labs Source) https://www.cryptokitties.co/?utm_source=dapperlabs Dapper Labs is a Canadian-based game development company separated from Axiom Zen to provide consumers with the benefits of decentralization in 2018. The world's first blockchain-based cryptocurrency-based game, CryptoKitties, was developed and released in December 2017. CryptoKitty is an Ethereum ERC-721 token type DApp.

02. Representative NFT Digital Art Transactions

Celebrities and Sports Athletes NFTs

Source : NBA TOP SHOT
From 2020, Dapper Labs has joined hands with the NBA to offer "NBA Top Shot," an NFT trading platform, where users can trade short-edited videos of famous players. Dapper Labs has a limited number of NFTs created and sold to license the NBA and maintain sparsity.

NFT by Digital Artist 'Beeple'

The 10-second video clip, created by digital artist "Beeple" Winkelman, is available online for free at any time, but was sold for $6.6 million (KRW 7.4 billion) on the NFT exchange in February 2021. Beeple's latest work, "Everydays: The First 5000 Days," combined with NFT technology, set an all-time high price record of $69,346,250 at Christie's in the U.S.
Christie, Biffle’s Work( Everydays: First 5000 Days”)

Elon Musk Wife Grimes NFT "War Nymph"

Grimes, the wife and singer of Tesla CEO Elon Musk, auctioned 10 digital paintings titled "War Nymph" online in March 2021, which was sold for $5.8 million (6.5 billion won) in just 20 minutes.
Elon Musk's Wife GrimesNFT Works

Twitter Founder Jack Dorsey Tweet NFT

The nft ownership of the first tweet in history, written by Twitter founder Jack Dorsey, was auctioned for $2.9 million (about 3.27 billion won)
Source: NFT of Twitter CEO Jack Dorsey's initial tweet

03. NFT Market Outlook

According to a report published by the NFT analysis site NonFungible.com and BNP Paribar Ratelier Institute, the NFT trading volume spent US dollars quadrupled from US$62.86 million in 2019 to US$250.85 million last year.
As of 2020, the number of digital wallets used for NFT sales and holdings has doubled to 222,179, and according to the data of the cryptocurrency media Daprader, the growth rate is even steeper this year.
Source: NonFungible.com, Meritz Securities Co., Ltd.
NFT is expected to continue to grow in combination with new trends such as metaverse.
Market research firm Strategy Analytics (SA) expects the Metaverse economy, represented by VR and AR, to grow to 280 billion dollars (314.58 trillion won), more than six times as much as it is today by 2025.