Trading in nonfungible tokens hit $17.6 billion last year, an increase of 21,000% from 2020, according to a report from Nonfungible.com.
NFTs entered mainstream consciousness in a big way, with celebrities and major companies increasingly warming to the market.
People also got better at making money from NFTs, generating a total $5.4 billion in profits through sales of the tokens in 2021.
Elon Musk officially opened Tesla’s first manufacturing facility in Europe on Tuesday as the company looks to take pressure off its other factories in the U.S. and China.
Musk was seen dancing as he presided over the delivery of Tesla’s first German-made cars to 30 clients and their families at the carmaker’s 5 billion euro ($5.5 billion) plant.
Read MoreTraders are betting the Federal Reserve is likely to raise interest rates by a half percentage point at each of its May and June meetings to battle inflation at a faster clip.
Market expectations for a more aggressive, quicker rate hike cycle rose after Fed Chair Jerome Powell’s tough talk on inflation Monday.
The Fed is expected to reach 2.25% on the fed funds rate by the end of the year and a peak of 2.75% by September 2023, according to futures.
“It’s been a fast-forward of a full cycle,” said one strategist.
Shelter, gasoline and food were the largest contributors to inflation in February, the U.S. Department of Labor said Thursday.
These categories are also the biggest components of household budgets. They accounted for 63% of total expenses for the average household in 2020.
Grocery bills and housing costs are rising at their fastest annual rate since April 1981 and May 1991, respectively. Energy costs (which include gasoline) are up the most since July 1981.
