Source: https://www.cybersecurityconnect.com.au/commercial/7537-chainalysis-report-reveals-nft-wash-trading-and-money-laundering-activity-on-the-rise?utm_source=CyberSecurityConnect&utm_campaign=08_02_22&utm_medium=email&utm_content=1&utm_emailID=

NFT popularity skyrocketed in 2021 and Chainalysis tracked a minimum $44.2 billion worth of cryptocurrency sent to ERC-721 and ERC-1155 contracts – the two types of Ethereum smart contracts associated with NFT marketplaces and collections – up from just $106 million in 2020.

Non-fungible tokens (NFTs) were one of the biggest stories in cryptocurrency in 2021. NFTs are blockchain-based digital items whose units are designed to be unique, unlike traditional cryptocurrencies whose units are meant to be interchangeable.