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Global NFT Sales Dips By More Than 50%

- Global NFTs continue to decrease in monthly sales volume.
- Despite a plunge in sales volume in March, Global NFTs saw an increase in year-on-year sales in March.
- March 2022 saw Global NFTs sales volume reach $2.30 billion.
- For NFT critics, this figure is significant due to their belief that digital collectibles will replace mainstream art, which are still considered a novelty by millions of DeFi enthusiasts and blockchain technology experts.

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Global NFT Sales Dips By More Than 50%

- Global NFTs continue to decrease in monthly sales volume.
- Despite a plunge in sales volume in March, Global NFTs saw an increase in year-on-year sales in March.
- March 2022 saw Global NFTs sales volume reach $2.30 billion.
- For NFT critics, this figure is significant due to their belief that digital collectibles will replace mainstream art, which are still considered a novelty by millions of DeFi enthusiasts and blockchain technology experts.

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How Does Bitcoin Work?

Bitcoin is built on a distributed digital record called a blockchain. As the name implies, blockchain is a linked body of data, made up of units called blocks that contain information about each and every transaction, including date and time, total value, buyer and seller, and a unique identifying code for each exchange. Entries are strung together in chronological order, creating a digital chain of blocks. “Once a block is added to the blockchain, it becomes accessible to anyone who wishes to view it, acting as a public ledger of cryptocurrency transactions,” says Stacey Harris, consultant for Pelicoin, a network of cryptocurrency ATMs. Blockchain is decentralized, which means it’s not controlled by any one organization. “It’s like a Google Doc that anyone can work on,” says Buchi Okoro, CEO and co-founder of African cryptocurrency exchange Quidax. “Nobody owns it, but anyone who has a link can contribute to it. And as different people update it, your copy also gets updated.”

Global NFT Sales Dips By More Than 50%

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