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- NFT market has witnessed a massive surge during the past year all over the globe. This time, it’s the nation of Hawaii experiencing an elevation in NFT popularity.
- NFTs can be considered as the cousin sisters of crypto assets, which exist on blockchain, but cannot be interchanged with each other.
- As per OpenSea, around 1,000 trades were tracked in Hawaii during the previous month, which is a considerable increase.
Digital Ray Of Sunshine In Hawaii
With the rise in NFT popularity, the number of people in this sector are increasing too. This time, we are talking about the Paradise on the earth, Hawaii. Past few months have witnessed a surge in NFT trade volume here.
There are many causes for this escalation. Initially because NFTs provide a distinct way for making a collection of virtual assets, which is appealing for the investors as well as collectors seeking innovative ways for making investments.
Nother reason is that The state is small, enabling the traders persisting to grow their relations easily, which can be beneficial with respect to NFT trading.
The NFT community in Hawaii is growing at a faster pace, keeping the investors up to date, eventually assisting them to succeed in this space. Hawaiian authorities have also shown great support towards NFTs, and have created a task force especially for the purpose of researching NFTs.
Basically, NFT trades in Hawaii escalated from 200 to 1000 during the past month, showing a considerable 5x growth in the trading volume.
What Does This Represent?
The growing NFT sector has lured folks, celebs and organizations from different backgrounds and nations. Growth of this sector in islands like Hawaii exhibits the reach and admiration of this space.
Hawaii is basically crawling with creativity, with musicians, painters and many more distinct folks having a background in the creative field, and NFTs, as we have witnessed, usually include artwork by artists in digital form.
This means that they have an opportunity to show their works to the world through blockchain technology, and even have a chance to earn massively from their works, as many artists fail to do so while they are trying to make their name among the people.
Beeple’s Everydays NFT is an example of what kind of earning potential this space holds, as it is the most expensive art this sector has ever witnessed, which got sold over $69 Million back in February 2021.
Anurag is working as a fundamental writer for The Coin Republic since 2021. He likes to exercise his curious muscles and research deep into a topic. Though he covers various aspects of the crypto industry, he is quite passionate about the Web3, NFTs, Gaming, and Metaverse, and envisions them as the future of the (digital) economy. A reader & writer at heart, he calls himself an “average guitar player” and a fun footballer.
