Reflecting the growing interest in the nonfungible token (NFT) space among today’s investors, new research predicts that the existing $3 billion market size will reach $13.6 billion by the end of 2027.
For the next five years, the key factors tied to the global NFT boom continue to factor in the growing involvement of mainstream influencers, gaming communities and the rising demand for digital artworks.
Interestingly enough, research firm MarketsandMarkets envisions several other factors that will contribute to the explosive growth of the NFT market, including its increasing use cases in supply chain management, retail and fashion.
Some of the other catalysts well-positioned to further speed up the growth of the NFT market are metaverse initiatives by exisiting market leaders such as social media giant Meta and the personalization of NFTs.
In November 2021, Cointelegraph reported on the rising interest from Asia-Pacific (APAC)…