The nonfungible token, or NFT, sector took the world by storm in 2021 as crypto and corporate sector influencers, globally recognized companies and popular sports teams embraced the growing digital collectible trend.
After a brief sector-wide pullback which coincided with the market-wide declines seen at the beginning of May, the NFT sector roared back to life as collectibles like CryptoPunks, Pudgy Penguins and Bored Ape Yacht Club (BAYC) have been selling for record-breaking prices.