In the past year, nonfungible tokens, or NFTs, have been gaining ground as the digital art market explodes and developers experiment with a variety of use cases. Data from NonFungible shows that over the past 30 days, there were 58,400 NFT sales and $12.7 million worth of volume.
In the same time period, MANA, the token behind the blockchain-based virtual world Decentraland, totaled $636,000 in NFT trades. The virtual reality platform is built on the Ethereum blockchain and provides a digital landscape where players can explore, interact with other players and purchase land plots along with other items.