Nonfungible tokens (NFTs) and the marketplaces they trade on have been the talk of the cryptoverse for a while now. Even amid the peak of the bull run, the hype for NFTs is not decreasing. It is arguable to say that the traction they are gaining is at an all-time high right now and continues to climb higher.
The NFT industry generated $10.67 billion in trading volumes during Q3 of this year, marking a 704% increase from Q2, according to a report by DappRadar. Out of this, blockchain networks and Ronin accounted for 77.73% and 19.53% of the numbers, respectively.
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