Figures from Dune Analytics show monthly trading volume on OpenSea, the world's biggest NFT marketplace, has hit $2.2 billion so far in January.
Even though the crypto markets might be experiencing a bit of a lull right now, demand for non-fungible tokens remains in rude health.
All of this comes as competition continues to heat up in the world of NFTs, with a number of big brands announcing plans to establish their own marketplaces.
We're also seeing a continual shift when it comes to which NFT collections are the most popular. Bored Ape Yacht Club has been unseated from the top spot by PhantaBear, a project endorsed by Asian popstar Jay Chou.
More NFT Launches Unveiled
Countless numbers of new NFT collections are being announced on a daily basis, meaning there's heightened competition for eyeballs.
The British Museum has announced that it plans to sell tokenized versions of paintings by J M W Turner, although this will not equate to ownership of the watercolors they represent.
Hennessy has tapped BlockBar for the launch, a platform that specializes in offering NFTs from high-end liquor brands. The arrival of digital assets in the space is a logical next step considering that rare wines and whiskies have been collected for generations.