After first quarter frenzy, NFT market shows signs of stabilising

FILE PHOTO: Humanoid robot Sophia, developed by Hanson Robotics, holds a brush during a demonstration before her non-fungible token (NFT) artwork is auctioned, in Hong Kong, China March 16, 2021. REUTERS/Tyrone Siu/File Photo

LONDON (Reuters) - After a frenzied first quarter for non-fungible tokens (NFTs), the market for blockchain-based digital assets ranging from art and videos to songs and tweets slowed in April, platform and product data shows.

An NFT artwork fetched $69.3 million at Christie's in March, in the first ever sale by a major auction house of a piece of art that does not exist in physical form.