NFT market worth $231B by 2030? Report projects big growth for sector
Cointelegraph
Published Jul 14, 2022 10:45AM ET
Updated Jul 14, 2022 12:20PM ET
A market report published by Verified Market Research (VMR) provides a lofty prediction for the future of the nonfungible token (NFT) market, projecting its value to swell to $231 billion by 2030.
The global research and consulting firm valued the global NFT market at $11.3 billion in 2021 as part of 202-page deep dive into the burgeoning space. VMR predicted that the sector will grow at a compound annual growth rate of 33.7% over the next eight years. A key driver of demand for NFTs is their proliferation across multiple industries and walks of life, including music, films and sports. The report highlights some key areas of interest and use cases that have helped drive NFT sales.
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Written By: Cointelegraph
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