Cryptocurrencies
Seemingly Ubiquitous NFTs Make Up Only 1% of Crypto Universe
- NFTs represent just a snippet of $2 trillion crypto ecosystem
- Profile-picture NFTs are pulling in the most revenue
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NFTs seem to be everywhere as of late, whether being touted by celebrities ranging from Justin Bieber to Heidi Klum, but data show they account for just 1% of the overall cryptocurrency market.
Nonfungible tokens have a combined value of about $16 billion, a sliver of the roughly $2 trillion ecosystem of thousands of digital assets, according to an analysis of NFTGo data by crypto information and research firm Messari. That’s even with some selling for millions of dollars.