The Non-Fungible Token space enjoyed a tremendous increase in publicity in 2021, given the broader awareness and participation in the field during the year. This growth is evident in popular figures' various notable sales and participations. However, one of the most notable pieces of evidence of the increase in interest in NFTs is the growth in the global search for NFTs, which shows a clear indication that digital collectibles or artworks have gained mainstream acceptance, with transactions on OpenSea surpassing over $10 billion.
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The exceptional growth in demand for NFTs can be seen in virtually all sectors of the society. First, well-known consumer brands like Nike and Adidas made entries into the realm of Metaverse NFT. Secondly, games within the NFT space, such as Axie Infinity and Sorare, played important roles for players to learn about crypto and NFTs, making it possible for them to earn additional money. Also, celebrity figures such as Steve Aoki, Snoop Dog, Michael Jordan, Mila Kunis, and former US first lady Melania Trump promote their various NFT collections to the public.
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Additionally, another important factor for this growth is that most NFT proceeds are given to humanitarian or non-profit organizations to carry out charitable exercises such as building campuses across Africa. Also, crypto holders receive amazing pieces of artwork. However, in America, they additionally deduct their donations against their profits or income to save taxes, resulting in a win-win scenario for both parties.
Finally, NFTs make it possible for artists across the globe to showcase their abilities without the need for any physical displays. A good example is the Mongol NFT, which tells the tales of various nomadic horse rides on the blockchain.