Non-Fungible tokens had a phenomenal year with record sales. This week, sales of over $300 million were made. DappRadar released data that shows the trading volume for NFTs reached over $23 Billion in 2021. This is a significant increase on just $100 Million 12 months ago. The increasing acceptance of NFTs can explain this growth in sales. Ray Dalio (billionaire founder, co-chief investor officer at Bridgewater Associates) announced his desire to join the NFT market.

The disclosure came out of a conversation with Lex Fridman (an artificial intelligence researcher) during a podcast. It was part of a Saturday episode. The conversation saw Mr. Dalio stating that different types of money are now competing in the current world, with the declining value of traditional fiat currencies due to the excessive printing. Additionally, Mr. Dalio stated that Bitcoin’s development was key to his changing perception about cryptocurrency.

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NFTs could be considered a form of money and people might choose them over bitcoins, he says. To experience it, he expressed his desire for him to become a member of NFT to create one. He also stated earlier in the month that he owns some bitcoin.

Non-Fungible tokens can be considered unique and irreplaceable digital objects that are tied to other works, such as music or art. These items are used by people who buy and sell goods and services on the internet. These tokens are used to maintain digital records about transactions, and they are mostly powered by blockchain technology.

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