Nonfungible Tokens: A New Frontier

November 2021 - Cointelegraph Research

Public Access
Keywords :
NFT, DeFi, Decentralized Finance, Nonfungible Tokens, Ethereum, GameFi, Metaverse

Cointelegraph Research presents the “Nonfungible Tokens: A New Frontier” report, which discusses one of the main topics of 2021 and one of the centrepieces of the current cryptocurrency market landscape. 

This report covers:

  • NFT Ecosystem 

  • Business breakthroughs

  • Creation of NFTs

  • Pricing and Valuation

  • Regulation and Challenges

  • Future Growth

Elevated interest in NFTs coincided with the overall bull market in 2021, leading to over $9 billion in sales on Ethereum so far this year. Total sales this year are expected to achieve at least $17.7 billion by the end of the year as new traders enter the market. 

As the NFT market continues to develop and thrive, a complete ecosystem has evolved, comprising infrastructure, DApps and marketplaces. The number of NFT projects has been growing extensively over the last three years:

Figure 1 / Number of NFT Projects on Ethereum


Source: Cointelegraph Research, *CAGR calculated on data from from January 1, 2018, to August 31, 2021

The collectibles and art NFTs dominated in 2021 with a 91% sales volume share. Nevertheless, games, virtual worlds and other NFT-related markets are still thriving, with multiple projects launched in the recent past:

Figure 2 / Major NFT DApps


Source: Cointelegraph Research