The NFT Market Hits $25 Billion In 2021: A Forecast To 2022

Non-fungible tokens (NFT) are a new form of crypto token that have been around for less than one year. The craze started when CryptoKitties became the most popular dApp on Ethereum. Non-Fungibles are gaining popularity and many other developers have tried to create their own NFT, such as cryptokitties clones or games with unique items you can collect, trade and display somewhere in your digital space.

What is Non-Fungible Tokens (NFT)?

A Non-fungible token or NFTs represent ownership in an underlying asset. In other words, they are unique digital assets that can be individually owned, transferred and traded. NFTs are open source and platform independent, meaning they can be freely used by anyone within any project.

The NFT market has hit $25 Billion in 2021: a forecast to 2022!

The bank raised its NFT market-cap forecast to more than $35 billion for 2022 and to over $80 billion for 2025, analysts led by Stephanie Wissink wrote in the reported by Yahoo Finance on January 2022.

Real Estate and Sports Collectibles Are the Most Lucrative NFTs

It is no secret that sports collectibles are some of the most valuable assets on the market. However, not many people realize that real estate is also one of the best asset classes out there. These two asset classes have a lot in common and are both performing incredibly well since the launch of the Ethereum blockchain and the creation of Non-Fungible Tokens (NFTs).

Conclusion

After a massive boom and bust in 2017, the NFT market is showing signs of maturity. With several projects in development, there is a very real chance that this market will take off even bigger than it did before but with new entrants into the market, you will need to invest with care.