When did NFTs start gaining popularity in the cryptocurrency market?

3 answers

• Gitau ElijahFeb 16, 2024 · a year ago
  NFTs started gaining popularity in the cryptocurrency market around 2017, but it wasn't until 2020 and 2021 that they truly exploded in popularity. The rise of NFTs can be attributed to several factors, including increased interest in digital art, the desire for unique digital assets, and the growing adoption of blockchain technology. As more artists, creators, and collectors began to embrace NFTs, their popularity soared and they became a hot topic in the crypto community. Today, NFTs have become a significant part of the cryptocurrency market and continue to attract attention and investment from both individuals and institutions.
  639

  320
• nitinkumar sharmaJun 17, 2023 · 2 years ago
  The popularity of NFTs in the cryptocurrency market has been a relatively recent phenomenon. While NFTs have been around since 2017, it wasn't until 2020 that they started gaining mainstream attention. The COVID-19 pandemic played a role in this, as people spent more time online and sought new forms of entertainment and investment. Additionally, the rise of decentralized finance (DeFi) and the increased accessibility of blockchain technology made it easier for artists and creators to tokenize their work and sell it as NFTs. As a result, NFTs quickly gained traction and became a popular investment option in the cryptocurrency market.
  640

  214
• Hartman AbdiApr 26, 2021 · 4 years ago
  BYDFi, a leading cryptocurrency exchange, witnessed the rise of NFTs in the cryptocurrency market. NFTs started gaining popularity in the market around 2017, but it was in 2020 and 2021 that they truly took off. The unique nature of NFTs, which allows for the ownership and trading of digital assets, attracted a lot of attention from artists, collectors, and investors. The growing interest in digital art and the increasing adoption of blockchain technology also contributed to the rise of NFTs. Today, NFTs have become an integral part of the cryptocurrency market, offering new opportunities for creators and investors alike.
  629

  158