Initially after the boom of NFTs in the Web3 space NFTs were widely seen as only a collectible and art by the global population. On the other hand, digital creators and artists across the globe effectively used blockchain technology to tokenize their artworks. Later as days pass by, web3 enthusiasts and blockchain experts discover the underlying potential of NFTs and explore the wide range of NFT use cases. Even after the emergence of numerous use cases and applications for NFTs, Art, and collectibles are still collectors' and enthusiasts' favorites.
What Statistics Have Got To Say On Collectibles
According to the Q3 report released by NonFungible.com, Art, and collectibles account for 16% of the total sale in the quarter. In addition, both genres collectively contributed to nearly 75% of the total volume of the USD traded, and 35% of the active wallets across the globe hold art and collectible genre NFTs. The mentioned above statistics established by NonFungible.com proves the concrete presence of art and collectibles in the NFT market. In addition, this also proves that art and collectible genre NFTs have a strong scope amid unfurling applications and use cases of NFTs.
Summing It Up
Even though numerous use cases have evolved centric to NFTs, art, and collectibles are the top-performing genres in the Web3 space. Getting your hands on art or collectible NFT can add weightage to your portfolio. In addition, these art and collectible NFTs can also be flipped to make profits in NFT Marketplace for Digital Collectibles.
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