A study by Juniper Research states that the number of global NFT transactions will increase to 40 million.
With the acceptance of Metaverse, the NFT market experienced growth last year. However, the collapse in the crypto market since the beginning of 2022 caused the NFT market to shrink as well. The market, which showed a modest increase after the collapse, is expected to double in volume in the coming years.
NFT Transactions Will Increase in the Long Term
In the report prepared by Juniper Research, it is stated that the number of transactions from 24 million in 2022 will increase to 40 million by 2027.
Emphasizing the increasing demand for the metaverse, the report states that metaverse-connected NFTs will be the fastest growing NFT segment in the next 5 years. It is estimated that 600 thousand transactions in 2022 will increase to 9.8 million by 2027.
In addition to all these, in the report; It is said that malicious vendors participating in the NFT space can harm the industry and brands when NFTs carry out illegal activities such as money laundering and fraud. Therefore, the growth forecast may change. Environmental issues are also a major concern in the growth forecast.
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