Although the NFT sector, which has strengthened since 2021, has slowed down a bit, a report has been published that will shed light on the coming years. The total value of the NFT market is expected to hit a record $200 billion in 2030, according to a new report.

In the report published by the market research company Grand View Research, it was determined that the demand for NFT instruments is increasing. The number of applications will further accelerate the growth of the market.

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NFT market value could reach $200 billion

NFTs have become popular due to the wide range of applications in different industries. The market grew rapidly in a way that no one expected. Today's NFT market value is just over $15 billion. Grand View Research has studied the movement and evolution of the NFT market between 2018 and 2020.

The document predicts that the market will grow by 33.9% annually from 2022. By 2030, this growth is concentrated in the digital asset portion of the NFT market. Most NFTs on the market today are designed for personal use. Commercial NFTs, on the other hand, only make up 31% of the entire market. However, companies are expected to use NFT more and more for various purposes in the coming period.

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Report: “Real estate sales in Metaverse to reach $5 billion by 2026”

According to a report from global market research firm Technavio, the real estate market in Metaverse is expected to grow by $5.37 billion between 2021 and 2026. In its report, Technavio predicts that the market will grow at a compound annual growth rate of 61.74 percent over the forecast period, primarily due to the growing popularity of cryptocurrencies and virtual reality. More than 40 percent of this market growth is expected to come from North America, with the USA and Canada also being cited as key markets.