5 Ways to Increase Acceptability of Cryptocurrency: From Skepticism to Mainstream Adoption
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2022-05-07 | Selina Mathew
Trends related to the worldwide NFT boom will continue to figure in the expanding engagement of mainstream influencers, gaming communities, and increased demand for digital artworks during the next five years.
According to a recent study, the current $3 billion market capitalization for non-fungible tokens (NFTs) will increase to $13.6 billion by the end of 2027, reflecting the rising interest in the field among today's investors.
The expanding engagement of mainstream influencers, gaming communities, and the increased demand for digital artworks will continue to be major elements in the worldwide NFT boom over the next five years.
Surprisingly, MarketsandMarkets believes that numerous additional reasons will contribute to the NFT market's exponential expansion, including its growing use cases in supply chain management, retail, and fashion.
Metaverse activities by established market players like Meta and the customization of NFTs are two more catalysts that are well-positioned to accelerate the growth of the NFT market.
The lack of governmental acceptance for crypto trading or mining is one of the primary causes ascribed to the surge in NFT searches in countries like Hong Kong, Singapore, and China.
NFT markets, which allow investors to buy and sell NFTs, are presently predicted to contribute the most to the NFT ecosystem's growth.
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