Source: OpenSea

DeFi projects on Ethereum have attracted so many users over the last year that gas fees on Ethereum have risen to levels thNon-fungible tokens (NFTs) have soared in popularity in just the last few months, but questions abound regarding NFT valuations. In this piece, we provide our thoughts on the components that we believe drive value in NFTs. We also examine how these attributes appear in some of the most valuable NFTs, as measured by average sales on NFT marketplace OpenSea, including CryptoPunks, Hashmasks, and Autoglyphs.

A non-fungible token (NFT) is a digital token that is unique. An NFT typically bestows ownership to an object it represents: often digital art, virtual collectibles, and virtual items of some sort, each with distinct properties.

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About the Author

Martin Gaspar Headshot
Martin Gaspar
Research Analyst

Martin is a research analyst at CrossTower. Martin has several years of experience in conducting fundamental research and cryptocurrency analysis. Prior to joining CrossTower, Martin was a fixed income research analyst at Wells Fargo Securities, where he helped support traders, salespeople, and buy-side clients through his actionable investment recommendations. He has a passion for crypto and has followed the space extensively since 2012. Martin holds a BA from Colorado College, where he graduated with Distinction in Economics.