The state of the NFT market in 2030

Will 2021 be the only big year for NFTs? At the moment we see that bear run did not spare the non-fungible token sector. Of the fine statistics bestowed upon them last year, few accolades remain to reach the shores of the NFTs. And yet, a recent report published by Verified Market Research (VMR) indicates that the NFT market will resume its prime in 2030.

The NFT market, a valuation of $231 billion within 8 years

This was concluded by Verified Market Research after a recent market study focusing on the future of the NFT market. Its 202-page report highlights an annual growth rate of 33.7% over the same period. Aren’t we witnessing a high level of understanding and adoption of non-fungible tokens lately?

The report states that:

The segment is expected to grow due to the growing 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 up new opportunities for the expansion of the sector. »

But the increase in demand in the NFT market also has other reasons, such as the adoption of this new technology by many industries and circles. Currently, it is not uncommon to find forms of associationnon-fungible tokensfor music, sports, cinema, car production 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 accumulating tokens through their favorite pastime.

Even the sports industry seems to be seduced by NFTs. Just to name the NBA, UFC… or car manufacturers like Alpine GTA, Bugati, Ducati etc.

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

NFT and current situation

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

  • NFT was named “Word of the Year” by Collins Dictionary;
  • Google Trends has assigned a better position compared to searches on “cryptos”;
  • The NFT market recorded 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 2e quarter of the year 2022. This paper found a regression in the amount of dollars traded in the sector.

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

We are almost far from the hope of making a lot of money with the NFTs that DEXterlab highlighted last June.

However, hope is still the asset that makes our eyes shine. The flame can only be rekindled by revitalizing the sector, creativity and also patience. If the quantitative NFT market data makes you sick, try digging into Exclusible’s latest results. On this platform for luxury brands, the grass is always green, or continues to be green. Also remember that much of Web3 depends on NFTs.

Sources: Cointelegraph; Bitcoin; BlockBuild

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Mikaia ANDRIAMAHAZOARIMANANA avatar

Mikaia ANDRIAMAHAZOARIMANANA

The blockchain and crypto revolution is underway! And on the day when the effects will be felt on the most vulnerable economy in this world, against all hope, I will say that I had something to do with it

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