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    NFT Market Prediction Says It Will Be Worth £84bn By 2028

    By James EllisJune 30, 2022Updated:July 1, 20222 Mins Read

    An NFT market prediction by a global research company suggests that the industry will continue to grow over the next five years. Officially titled “The Global Non-fungible Token Market Size, Share & Industry Trends Analysis Report”, it estimates that the market will be worth £84bn ($97.6 billion) in 2028.

    image of NFT market prediction
    A new NFT market prediction report suggests that the market will be worth £84 billion by 2028.

    NFT market prediction comes in the middle of an uncertain period

    The NFT industry has made remarkable strides in the last two years. Now, as household companies rush to join web3, predictions suggest it will snowball.

    The report, consisting of over 181 pages of data, looks at how NFTs will see an increase in market share. It details a market overview, the impact of the metaverse and the global art market in the coming years. What’s more, the NFT market prediction looks at NFT geography and how each region of the world will differ.

    The report states, “The rising growth is attributed to the increased usage of NFTs by artists around the world to secure ownership of their digital assets. Artists can benefit from their work by preserving ownership of it through NFTs and not having to provide it to other platforms for promotion. Simultaneously, the increased usage of NFTs to sell digital real estate in both the actual and virtual worlds is likely to propel the market forward.”

    NFT technology is still ‘new’

    Although to many in the NFT industry, it may seem like it has been around forever, NFTs are relatively new. Furthermore, many people are still unaware or unsure of the benefits of the technology. The NFT report suggests that this will change over time. Additionally, the NFT market prediction envisions a future in which NFTs are widespread across the globe.

     


    All investment/financial opinions expressed by NFTevening.com are not recommendations.

    This article is educational material.

    As always, make your own research prior to making any kind of investment.

    NFT future NFT Market
    James Ellis
    • Twitter

    James is an English teacher and freelance writer with a passion for NFTs, football, film and technology.

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