To eternity and beyond – Non-fungible tokens (NFTs) are not ready to enter a phase of decline, according to this new report. In particular, they can rely on metaverses to ensure their sustainability and growth in the long term.
NFTs gallop until 2027
The trajectory is undoubtedly bullish. The report of Juniper Study which looks at the evolution of the NFT market in the next five years, predicts a growth of around 66% in global transactions of non-fungible tokens, which will increase from 24 million in 2022 to approximately 40 million in 2027.
This significant increase will be fueled in large part by the metaverses. NFTs, linked to virtual universes, will record the fastest growth in terms of transactions, increasing from 600,000 this year to 9.8 million in 2027.
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Metavers and other development levers
NFTs thus rely on metaverses to fuel their growth, and the rise of these virtual universes relies their increasing adoption of well-known brandssuch as Gucci and Adidas, who want to strengthen their digital presence on the web3.
Social networks 2.0 will also contribute to the development of NFTs, by gradually integrating the necessary tools. Mark Zuckerberg announced in August that NFT-related services will come to Instagram in 100 additional countries.
Bear markets have a decline in the overall volume for NFTs, but the backdrop does not prevent the big brands that have embraced the sector from taking care. Crypto winter has passed, but Juniper Research’s report predicts a sunny tomorrow for non-fungible tokens.
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