While few people seem to understand what a non-fungible token actually is, that hasn’t stopped NFT market capitalization from soaring in 2021.
The global market value of NFTs has hit $23 billion as collectors have rushed to get in on the ground floor of what they hope will be the next Bitcoin, according to DappRadar, which tracks sales.
A big part of that increase was due to the sale of Beeple’s The First 5,000 Days, which sold for a jaw-dropping $69.3 million earlier this year. Other big sellers include the Bored Ape Yacht Club, which took in $26.2 million, and CryptoPunk, which (on the sale of four NFTs alone) garnered over $32 million.
“Hollywood, sports celebrities, and big brands like Coca-Cola, Gucci, Nike, and Adidas made their dent in the space, providing NFTs with a different level of exclusivity,” said DappRadar. “Moreover, NFTs arrived at famous traditional art auction houses like Christie’s and Sotheby’s, opening a doorway to a mainstream audience that would otherwise not be that familiar with the term.”
While NFTs aren’t at the same level as cryptocurrencies, even meme coins like Dogecoin or Shiba Inu, they’re still big enough to be more valuable than many publicly traded companies. Here are some of the blue-chip companies that have seen NFTs surpass their market caps this year.
All market cap data is as of 11:40 a.m. ET on Dec. 17.
CarMax (KMX)—Market cap: $22.36 billion
Clorox (CLX)—Market cap: $21.78 billion
Carnival (CCL)—Market cap: $21.5 billion
Ulta—Market cap: $21 billion
Take-Two Interactive Software—Market cap: $20.35 billion
MGM Resorts (MGM)—Market cap: $19.63 billion
Nissan—Market cap: $19.35 billion
Domino’s Pizza (DPZ)—Market cap: $19.33 billion
LG Electronics—Market cap: $18.63 billion
Bath & Body Works—Market cap: $18.19 billion
Liberty Media (LSXMB)—Market cap: $18.08 billion
Never miss a story: Follow your favorite topics and authors to get a personalized email with the journalism that matters most to you.
