The Ethereum non-fungible token (NFT) market has experienced a considerable rise in activity, with weekly trade volume surpassing $231 million. This is due to the fact that 154,000 traders conducted 474,000 transactions. The average trader made 3.1 transactions with an average volume of $487 per transaction, totaling $1,494 per trader on average.
Take a look at NFTs projects
These numbers indicate the increasing popularity of NFTs, which are digital assets that cannot be replicated or replaced. Frequently, they are used to represent art, collectibles, and virtual real estate. The growing demand for NFTs has resulted in a booming market, with many new investors entering to capitalize on the potential gains.
In addition to the recent success of the Ethereum NFT market, the entertainment company Doodles is generating waves. Doodles, the Web3 entertainment firm behind the namesake NFT project, will purchase animation studio Golden Wolf, famed for its work on Rick & Morty. The terms of the sale are not disclosed. Golden Wolf’s team will join Doodles after the acquisition is finalized, and its CEO will become Doodles’ chief content officer.