• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN
Bitcoinist.com
No Result
View All Result
NFT
Nexo

The NFT Market Will Be Worth More Than $13 Billion By 2027 — Report

Jet Encila by Jet Encila
2 weeks ago
in Crypto News, metaverse, NFT
0

In recent years, non-fungible tokens (NFT) has emerged from obscurity to become a vital part of the broader cryptocurrency industry.

Analysts and market participants have forecast a prosperous future for the market in light of this new reality.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

According to a recent MarketsandMarket research, the NFT market is poised for a 35 percent increase by 2027.

This means that the existing $3 billion market size will reach $13.6 billion by the end of that year based on the Compound Annual Growth Rate (CAGR) of 35.0% — if the interest among investors continues to grow.

Suggested Reading | Cryptocurrencies Won’t Save Russia From Dodging Sanctions, Moody’s Says

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

NFT Driving Forces

The growth of mainstream influencers, gaming communities, and the expanding demand for digital artworks will continue to be the driving forces behind the worldwide NFT boom over the next five years.

During the forecast period, the increasing influence of celebrities to fuel the momentum of NFT adoption, transforming the gaming sector, and the sluggish but persistent rise in demand for digital artworks are anticipated to drive the global NFT market.

In addition, the expanding applications of NFT in supply chain management, retail, and fashion, as well as the efforts of industry titans to make the metaverse a reality, would give NFT market providers with lucrative potential for personalization.

Level Playing Field

The non-fungible token market provides a level playing field for both buyers and sellers to flourish. With this, both buyers and sellers can profit substantially in many ways.

A further element that has contributed to the success of NFTs in China and other Asian nations is the resistance to cryptocurrencies.

Compared to other Asian nations, China has struggled to establish a legal framework for cryptocurrencies due to the government’s preference for digital yuan ambitions.

Crypto total market cap at $1.59 trillion on the weekend chart | Source: TradingView.com

Asia-Pac Countries Among Big Players

Recent Google Search Trends data indicates that countries in the Asia-Pacific area are trending toward constant market developments and marketplace launches to provide creators and buyers with equal possibilities in the ecosystem.

On the year-to-date basis, the non-fungible token sector beat the overall crypto market, according to a research from Nansen. The blockchain analytics company anticipated that the market capitalization of NFTs might reach $80 billion by 2025.

NFT marketplaces — platforms that enable investors to buy and sell digital artwork and other related materials — are currently projected to contribute the highest to the expansion of the space.

Suggested Reading | Crypto Boom In The Gulf: Dubai, Abu Dhabi Fast Becoming Hotbed Of Digital Currency

Industry leaders are hopeful that NFTs will be the way the Metaverse makes money in the next few years. (Image credit: Search Engine Journal)

Revenue Model For The Metaverse

While established firms such as OpenSea currently dominate this industry, crypto exchanges such as Coinbase and Binance have begun to offer comparable services for exchanging non-fungible tokens in the open market.

The Metaverse is a concept for an internet-enabled virtual world in which users interact with digital assets using Augmented Reality (AR), Virtual Reality (VR), and Extended Reality (ER) (XR), and the emergence of blockchain technology is accelerating this development.

Industry experts are optimistic that NFTs are going to be the revenue model for the Metaverse in the coming years.

Featured image CNBC, chart from TradingView.com
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Jet Encila

Jet Encila

Freelance writing is Jet's other cup of tea. When not on his computer, he unwinds with a cold bottle of beer and laughs with his son over cartoons. Other than that, he's just like everybody else who wants to be happy with their life.

Related Posts

Fitness wants metaverse

Survey Shows 40% Of Americans Want Metaverse Gym Memberships

2 hours ago
Shiba Inu

Shiba Inu Extinction: Finder Panel Predicts SHIB To Have Zero Value By 2030

10 hours ago
Terra

Terra – A ‘Pyramid Scheme’ – Threatens The Crypto Ecosystem, Billionaire Says

1 day ago
Getty Images

Getty Images Teams Up With Candy Digital In Foray Into NFTs

1 day ago
Robinhood

Robinhood To Roll Out Standalone Ethereum Wallet

1 day ago
Phishing

Phishing Scammers Steal Hollywood Comedian Seth Green’s Pricey Apes

1 day ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
  • Crypto Prices from Nomics
© 2022 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN

© 2021 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.