Nonfungible tokens — most often digital art such as cartoonish-looking apes and penguins — saw their daily average price last year go from $128 to nearly $4,000 , according to NonFungible. OpenSea, the biggest NFT marketplace, recorded its best month ever in January.
Read moreHow much should I charge for an NFT?
The costs to develop an NFT can vary greatly depending on the type of market. The developer must create code to enable the NFT to function for free. This can cost anywhere from $7 to $150 , depending on the complexity of the project. It is up to the creator what format an NFT takes.
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