The state of the NFT market in 2030

Will 2021 be the only glory year for NFTs? For the time being, we see that the bears run did not spare the non-fungible token sector. Out of the nice stats they got last year, only a few more credits are reaching the banks of NFTs. And yet, a recent report from Verified Market Research (VMR) indicates that the NFT market will start again at its best by 2030.

NFT Market, Valuating $231 Billion Within 8 Years

This is the conclusion of Verified Market Research after a recent market research focused on the future of the NFT market. The 202-page report points to an annual growth of 33.7% over the same period. Have we not witnessed a high level of understanding and adoption of non-replaceable tokens lately?

The report states that:

The segment is expected to grow due to the increasing use of NFTs for business applications, such as improving supply chain management and logistics. Blockchain technology is increasingly integrated into the operations of logistics companies, opening up new perspectives for the expansion of the industry. »

But the increasing demand in the NFT market also has other justifications, such as the appropriation of this new technology by many industries and circles. At present it is not uncommon to find forms of association ofnon-exchangeable tokensto music, sports, cinema, car manufacturing or even luxury.

As a reminder, game publishers such as Enjin, Monkey Empire or Axie Infinity have appropriated the NFT market to monetize player assets. We will no longer tell you how much video game enthusiasts enjoy the ease of making fiat by collecting tokens through their favorite pastime.

Even the sports industry seems to be tempted by NFTs. To name just the NBA, the UFC… or automakers like Alpine GTA, Bugati, Ducati, etc.

In short, the NFT market may be at half-mast right now, but the enthusiasm for its assets hasn’t lost a beat.

NFT and current situation

A few lines above, we talked about the success of NFTs in 2021. To give you an overview of the charts, know that:

  • NFT was voted “Word of the Year” by the Collins Dictionary;
  • Google Trends has assigned a better position over “cryptos” searches;
  • the NFT market was worth 15.7 billion in the same year;
  • a digital artwork signed Beeple had sold for $69 million, still in the same period.

However, a recent report from NonFungible shed some light on the NFT market situation for the 2e quarter of the year 2022. This document found a dip in the amount of dollars traded in the sector.

On CashNetUsa, the numbers show an NFT market in total regression, even in free fall. Even NFT sales giant Opensea no longer published figures over several thousand dollars.

We’re almost a long way from hoping to make a lot of money with the NFTs that DEXterlab highlighted last June.

Hope, however, remains that asset that makes our eyes shine. The flame can only be revived by reviving the industry, creativity and also patience. If the quantitative NFT market data is making you sick, try digging into Exclusible’s recent performance. On this platform for luxury brands, the grass is always green, or stays green. Also keep in mind that much of Web3 relies on NFTs.

Sources: CoinTelegraph; Bitcoin; BlockBuild

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Mikaia ANDRIAMAHAZOARIMANANA avatar

Mikaia ANDRIAMAHAZOARIMANANA

The blockchain and crypto revolution is underway! And the day the impact will be felt on the world’s most fragile economy, against all odds, I’ll say I had something to do with it

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