NFT sees incredible growth, as the market grows by over 200% during the first quarter of 2022 only.
NFT Sees Magnificent Growth
Since the advent of Non-Fungible Tokens, the market has gathered tremendous interest from people related to a range of professions. Actors, sports personalities, artists and even journalists, they all engaged with NFTs in one or the other way.
Over the past couple of years the market has gone through the roof. As during the year 2021 the market grew by a whopping 21,000%-Yes by 21 thousand percent. The NFT market cap reached $17.6 billion.
Now, while we are only a quarter into the year, the market has gone from the low of $16.8 billion to $54.58 billion. A growth of 222%. Earlier, analytics platform, IntoTheBlock, shared a chart that showed NFT adoption in crypto. Surprisingly, despite significant growth, only 4.5% 9f Ethereum addresses hold NFTs. Sighting data platform stated that the NFT adoption is ‘just starting’.
Data clearly shows that while the percentage at which NFT adoption is growing is slow, it is steady.
People Believes in NFTs
NFT enthusiasts like Kevin O’Leary believe that one day NFT will outshine even Bitcoin. While the statement seems like a brag, he is not the only one with the view.
As chief marketing officer (CMO) at Gate.io, Marie Tatibouet, stated that she agrees with Kevin that NFT will one day outperform Bitcoin. She stated that it is 100% that NFT will outshine Bitcoin because the former could be many things. As he asserted: “10 years from now I’m almost certain.”
Recently CEO at world’s largest online shopping store, Amazon, Andy Jassy, said that though the platform may not accept crypto as payment in the near future, they might start selling NFTs.
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