According to a Finder’s panel of over 30 fintech experts, the NFT sector is likely to reach a value of 26 billion by the end of the year. Additionally, the board forecasted a market capitalization of 146 billion by the end of 2025. However, when asked if “NFTs bolstered the credibility of the cryptocurrency category,” just around half of those surveyed responded affirmatively. Simultaneously, 23% of panelists were uncertain about the subject.
The value of the NFT market increased throughout the year as a result of significant sales and continuous volume on the blockchain. While the rest of the world remained locked inside, artists and developers used NFTs to give their audiences a voice and a source of substance. As a result, the usefulness that underlies their value has shifted rapidly from being a profile picture to being a governance key.
“NFTs go beyond jpeg images. They allow individuals to prove ownership on the blockchain. This can be used to signal trust, prove participation, identify with the community and gain voting rights into how decentralized autonomous organizations should invest their capital/treasuries. In a world of imitation, the ability to use blockchains to verify trust online should not be undervalued. There’s something very powerful and more valuable under iteration and exploration within the collective NFT space that could well form a foundation for how we work, share and engage online for many decades to come.” – Fred Schebesta Co-founder of Finder regarding the NFT market
By the end of 2022, the adoption rate of NFTs in the United States will have doubled to 6%. According to a September 2021 research of around 28,000 people, the Philippines has the greatest proportion of NFT owners (32 percent ). Additionally, the pace of worldwide adoption of NFTs is predicted to increase. Despite this, the great majority of the world’s population is uninformed of non-fossil fuel technologies.
According to a 2021 survey, just 10% of Japan’s adult population is aware of NFTs. However, people worldwide are becoming more aware of NFTs. As a result of the emerging pattern between awareness and ownership, NFT adoption will soar. Recent data indicates that the market capitalization of NFT has increased significantly.
