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2021: The NFT Explosion

With projects like Cryptopunks and CryptoKitties, NFTs gradually came into the limelight between 2018 and 2021. However, the real turning point came in the middle of 2021. One report estimates that NFT transactions worldwide increased from $82.5 million to $17 billion in 2021. For context, this is a 21,350% increase, showing you just how much the world has accepted NFTs.

Clearly, the history of NFTs is a longer one than most people imagine. This history is crucial because it provides context for the rapid rise of NFTs. NFTs did not just come out of nowhere. Instead, they are the result of a lengthy process of technological innovation and creativity.

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