What is the current market size of NFT industry?
The NFT (Non-Fungible Token) industry has experienced explosive growth in recent years, driven by increased interest and adoption in the digital art and collectibles space. While it is challenging to pinpoint an exact market size due to its dynamic nature, various reports and estimates provide insight into its magnitude. According to a market research firm DappRadar, the NFT market reached a total value of $2.5 billion in 2020, representing a significant surge compared to earlier years. Additionally, data from NonFungible.com revealed that NFT sales skyrocketed to $2 billion in the first quarter of 2021 alone, showcasing the industry's remarkable growth within just a few months. These figures suggest that the NFT market is expanding rapidly and has the potential for even greater growth in the future.
This mind map was published on 18 September 2023 and has been viewed 92 times.
