The state of the NFT market in 2030

Will 2021 be the only glory year for the NFTs? At the moment, we see that a file bearing range The sector of non-fungible tokens has not been spared. Of the good stats given to them last year, only a handful of praises remain to hit the shores of the NFTs. However, a recent report published by Verified Market Research (VMR) indicates that the NFT market will start again at its best by 2030.

NFT market valued at $231 billion over 8 years

This was completed by Market Research validation after a recent market study focusing on the future of the NFT market. The 202-page report highlights an annual growth rate of 33.7% over the same period. Haven’t we recently seen a high level of understanding and application of irreplaceable tokens?

The report states that:

This 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 being integrated into the operations of logistics companies, opening new avenues for sector expansion. »

But the increase in demand in the NFT market also has other justifications, such as the appropriation of this new technology by many industries and departments. Currently, it is not uncommon to find forms of associationIrreplaceable iconsFor music, sports, cinema, automobile manufacturing or even luxury.

As a reminder, game publishers such as Enjin, Monkey Empire, or Axie Infinity have allotted the NFT marketplace in order to monetize players’ assets. We will not tell you anymore how easy it is for video game lovers to make a fiat order by accumulating tokens through their favorite pastime.

Even the sports industry seems tempted by NFTs. To name only NBA or UFC… or car manufacturers like Alpine GTA, Bugati, Ducati, etc.

In short, the NFT market may be halfway right now, but the enthusiasm for its assets hasn’t lost anything.

NFT and current status

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

  • NFT was named “Word of the Year” by Collins Dictionary.
  • Google Trends allocated a better position compared to searches on “cryptos”;
  • The NFT market recorded 15.7 billion during the same year;
  • Beeple’s digital artwork sold for $69 million, still over the same period.

However, a recent report by NonFungible shed some light on the state of the NFT market for 2e Quarter of the year 2022. This paper found a decrease in the amount of dollar circulating in the sector.

At CashNetUsa, the numbers show that the NFT market is in total decline, even in a free fall. Even sales giant NFT Opensea no longer publishes numbers in excess of several thousand dollars.

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

Nevertheless, hope remains that asset that keeps our eyes shining. The torch can only be revived through the revitalization of the sector, creativity and patience as well. If quantitative NFT market data bothers you, try researching Exclusible’s recent achievements. In this platform for luxury brands, the grass is always green or continues green. Also keep in mind that a lot of Web3 is based on NFTs.

Sources: Cointelegraph; Bitcoin. BlockBuild

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Avatar for Micaya Andriamahazuarimana

Mikaya Andriamahazuarimana

The blockchain and crypto revolution is underway! And the day you will feel the effects on the most vulnerable economy in this world, despite all hope, I will say that I have something to do about it.

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