NFT Industry to Grow into a $200 Billion Market by 2030: Market Report

Azeez Mustapha

Updated:

Unlock Daily Forex Signals

Select a Plan

£39

1 - month
Subscription

Select

£89

3 - month
Subscription

Select

£129

6 - month
Subscription

Select

£399

Lifetime
Subscription

Select

£50

Separate Swing Trading Group

Select

Or

Get VIP forex signals, VIP crypto signals, swing signals, and forex course free for lifetime.

Just open an account with one our affiliate broker and make a minimum deposit: 250 USD.

Email [email protected] with a screenshot of funds on account to get access!

Sponsored by

Sponsored Sponsored
Checkmark

Service for copy trading. Our Algo automatically opens and closes trades.

Checkmark

The L2T Algo provides highly profitable signals with minimal risk.

Checkmark

24/7 cryptocurrency trading. While you sleep, we trade.

Checkmark

10 minute setup with substantial advantages. The manual is provided with the purchase.

Checkmark

79% Success rate. Our outcomes will excite you.

Checkmark

Up to 70 trades per month. There are more than 5 pairs available.

Checkmark

Monthly subscriptions begin at £58.


As non-fungible tokens (NFT) continue to revive more mainstream adoption, a recent report shows that the sector has a bright future ahead.

A detailed report published by market insight company Grand View Research suggests that the NFT market could tap the $200 billion mark in 2030. This prediction was made on the premise of the estimated demand trajectory due to their increasing applications.

The report estimated that the current value of the NFT industry hovers around $15 billion, further examining the trajectory and evolution of the NFT sector between 2018 and 2020. Drawing reference from this period, the report predicts the market will grow at a compound annual growth rate of 33.9% between 2022 and 2030. The report explained that this growth was concentrated on the digital asset part of the NFT industry.

That said, most of this growth and activity is predicted to occur on the Ethereum blockchain, which is set to switch to a more environmentally-friendly and scalable consensus mechanism this quarter. Regardless, the report detailed that NFT activities on other blockchain ecosystems are also expected to grow significantly.

Additionally, the document revealed that it expected the collectibles sector to maintain its dominance in the NFT space into the future. Last year, collectibles accounted for over half of the global NFT revenue that year. Sports and gaming collectibles stood out in this class following the windfall recorded in these sectors after the peak of the COVID-19 pandemic.

Commercial NFT Use to Overtake Personal Use in the Future

While personal use of NFTs currently accounts for the most share, the report revealed that businesses are expected to use more NFTs in the future. The document added:

“The growing use of NFTs for business purposes, such as innovating supply chain management and logistics, is expected to drive the segment growth. Logistic companies are increasingly integrating blockchain technology in their operations, creating new opportunities for the growth of the segment.”

 

You can purchase Lucky Block here. Buy LBlock

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Share with other traders!

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.

Leave a Reply

Your email address will not be published. Required fields are marked *