$4.7 billion NFT sold in the first quarter of 2023
With the completion of the first quarter of the year, quarterly reports on digital assets began to be published. The report released by DappRadar showed that NFTs, identified with digital artworks, completed the first quarter of the year with a sales volume of $ 4.7 billion.
According to data released by DappRadar, trade volume in the NFT market increased by 137% in the first quarter of 2023 compared to the previous quarter, reaching $4.7 billion. Experts said, "The transaction volumes, which fell due to global economic conditions towards the end of 2022, recovered with the hopeful atmosphere in the first quarter of the year."
Best performance since the second quarter of 2022
According to the report data, the NFT market showed its best performance since the second quarter of 2022. The total number of NFTs sold in the first three months of the year was announced as 19.4 million, with sales increasing by 8.56% compared to the previous quarter.
Emphasizing that 2020 is a turning point for digital artworks, experts said, “NFT redefines the relationship between artist and art lover and democratizes art in a sense. As NFT investors are among the first members of the community for a newly announced NFT collection, they can have works that have the potential to increase in value in the first days. This technology is based on a strong relationship of trust between the owners and followers of the projects. In projects and platforms where this trust is established, artists can turn their productions into income in the digital environment, while art lovers can establish a strong bond with the work and build a sense of ownership that does not allow manipulative actions.”
