Interest in NFTs continued to grow through February as the mainstream went digital. While trading activity may have slowed in recent weeks, the numbers are still well above December trading volumes.
OpenSea, the NFT market leader, had an impressive start to the year. NFT trading volumes hit an all-time high, heralding another bumper year ahead. According to figures from Dune analysis, monthly trading volumes had jumped to $4.96 billion on Ethereum (ETH) before falling back. At the time of writing, February volume on Ethereum was $2.68 billion.
NFTs and High Level Auction Houses
At the start of 2021, NFTs caught the eye and never looked back. Everydays: The First 5000 Days, created by digital artist Beeple, was auctioned for a whopping $69 million. For the artists, the sale was defining, with the famous auction houses of the world and a virtual meeting. Christie’s and Sotheby’s have been particularly active in the NFT space following the Beeple auction at Christie’s. Interest in NFTs has been so rampant that Sotheby’s has created a dedicated site Metaverse auction site.
With interest in NFTs unlikely to wane anytime soon, the NFT market has become a go-to place to raise money for charity. “give a blockis a platform that accepts crypto donations. The platform provides an ecosystem for charities and nonprofits to raise funds for Bitcoin and other crypto. Donate Block’s 2021 Annual Report highlights the rise of NFT philanthropy. More … than “$12.3M in crypto donations have been made from known NFT projects to dozens of charities on The Giving Block platform”.
There have also been collaborations, with NFT artists and non-profit organizations joining in fundraising campaigns. Notable campaigns included #NFT Tuesday, a day-long celebration of NFT charity giving with charity auctions hosted by Sotheby’s and CoinDesk, among others. Orangutan Outreach was another notable, with the organization receiving donations from the Bored Ape Yacht Club team.
With a strong connection between cryptos, NFTs and the charitable world, others have turned to NFTs.
Robin Williams’ son goes to NFT for mental health
Robin Williams was an actor and comedian who played major roles in films such as Good Morning Vietnam, Mrs Doubtfie, Dead Poets Society and Good Will Hunting, for which he won the Academy Award for Best Supporting Actor. The actor took his own life in 2014 after battling mental health issues and Lewy body dementia, which was diagnosed post-mortem.
This week, the news made the rounds of the wires of an NFT project launched in honor of Robin Williams, with proceeds going to mental health services for low-income youth.
Zak Williams, the late actor’s son, and artist Jesus Martinez collaborated and created the NFTs on Martinez’s super rare profile. Proceeds from the sale will go to Bring change to mind (BC2M), co-founded by actress Glenn Close. The mission of the association isTo end the stigma and discrimination surrounding mental illness”.