NFTs in 2022: Popular trends and marketplaces

economictimes.indiatimes.com:

Non-Fungible Tokens (NFTs) have been around since 2014. But they made it to the mainstream only in 2021, as a means to buy and sell digital artwork. Ever since NFTs have been selling like Dutch tulips during what came to be known as “tulip mania” in the 17th century—some of the NFTs were sold for millions of dollars! If you are looking to make the best of the new-found popularity of NFTs, CoinSwitch can help you find the tokens you need to buy them. But before you get into any of that, it’s always a good idea to understand what’s happening and what’s driving the boom.What is an NFT?

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To start with, here’s a quick refresher on what an NFT is. NFTs are digital assets that represent real-world objects like art, music, gaming items, and videos. They are built on blockchains, encoded with the same underlying software as many other cryptos. Each NFT has unique identification codes and metadata to distinguish them from one another.Popular NFT spaces responsible for the boom A variety of factors have contributed to the rise of NFTs, including the connection with the metaverse and celebrities jumping on the NFT bandwagon. And NFT sales have soared, with many well-known ones raking in millions of dollars. The Bored Ape Yacht Club (BAYC), The Sandbox, and CryptoPunks are just a few of the projects that have revolutionized the NFT industry, both creatively and financially.