NFTFN Plans to Broaden NFT Market Accessibility (Image Source: iStockphoto)
In the final quarter of 2023, a resurgence swept through the cryptocurrency market, reigniting investor interest with bullish predictions for 2024. Amidst anticipation of the upcoming Bitcoin halving event, Non-Fungible Tokens (NFTs) have emerged as a focal point of discussion.
NFTs, renowned for their scarcity and uniqueness, have gained traction as valuable additions to investment portfolios, buoyed by their rarity and strong community support. According to the NewsBTC report, representing ownership of digital assets such as art, music, and virtual real estate, NFTs offer diversification opportunities for investors. With a market cap of USD 10 billion in 2023, experts foresee a potential surge, with projections suggesting the NFT market could soar to USD 230 billion by 2030.
In this burgeoning landscape, NFTFN introduces its flagship product, SuperNova (SNV), featuring an NFT floor-price index. SuperNova aims to simplify trading for investors by providing an index of top-tier NFT collections, allowing traders to hedge their positions without the complexities of managing individual assets.
NFTFN's vision extends beyond enhancing liquidity to fostering inclusivity in NFT trading, catering to investors of all backgrounds. SuperNova offers exposure to premium NFTs like Bored Ape Yacht Club and Mutant Ape Yacht Club, enabling speculation on floor prices and fractionalizing NFTs to generate passive fees while enhancing price discovery.
Embracing a long-term perspective, NFTFN is committed to democratising NFT trading and revolutionizing digital asset ownership. Anchored by innovative concepts and fortified by strategic partnerships and transparent governance, NFTFN aspires to become a trailblazer in the crypto world.
The report added that the platform's ambitious roadmap promises significant returns for early investors, underpinned by a robust structure designed to facilitate widespread investor participation. With SuperNova as the starting point, NFTFN plans to expand its offerings to include more NFT indexes, ensuring accessibility to the NFT market for all, devoid of the complexities associated with individual asset management.
FAQs
According to a recent publication by Statistica, the market has the potential to be valued up to US$ 231.98 billion by 2030 with much thanks to the continued development of blockchain technology, growing public awareness of what the technology is and its capabilities, as well as institutional investors' growing ...
What is the future prediction of the NFT market? ›
The market is projected to experience an annual growth rate of -11.01% (CAGR 2024-2025), resulting in a total revenue of US$608.6m by 2025. In 2024, the average revenue per user in the NFT market is estimated to be US$59.0.
What is the future of NFT in 2024? ›
In 2024, we expect to see games and virtual worlds that allow NFTs to be used across multiple platforms. For example, a player might be able to purchase an NFT avatar in one game and then use that same avatar in another, creating a seamless experience across different gaming ecosystems.
How much is the NFT market worth? ›
NFT Collection Prices & Charts Today By Trading Volume
The global NFT market cap today is $63.18 Billion, a +1.19% change in the last 24 hours.
Is the NFT trend over? ›
Hybrid NFT trends are likely to grow in the coming years. As more brands and creators explore this trend, we can expect more innovative products.
What is the NFT prediction for 2030? ›
The global NFTs market is projected to attain USD 34,395.6 million by 2030. The NFT market is estimated to advance at a CAGR of 36.2%. The surge in NFT-based gaming channels, enabling players to earn tokens and trade digital assets within virtual environments, is a prominent trend shaping the NFT market.
Is it good to invest in NFT now? ›
The Bottom Line. Investing in NFTs has just as many benefits as downsides. In general, NFTs should be purchased if the tokenized asset has an established market and interests you—otherwise, it's unlikely the NFT will experience price appreciation and that you'll be happy owning it following your purchase.
How much is 1 NFT to a dollar? ›
NFT to USD
| Amount | Today at 2:40 am |
|---|
| 1 NFT | $0.0047 |
| 5 NFT | $0.0235 |
| 10 NFT | $0.0470 |
| 50 NFT | $0.2349 |
4 more rowsThe value of NFT collectibles is down 90% since 2021's peak. In speculator's evaluation, the NFT market collapsed, becoming a fad after a series of scandals in the crypto market in 2022. However, the future of NFT in 2024 shows that the correlation between these two markets is not as close as it seems.
Is there any real value in NFT? ›
An NFT's utility in a real application is required for it to have any monetary value. Tokenizing real estate, precious metals, and even securities; representing virtual land or game assets; and many other uses are possible with the use of NFTs.
As the market became more crowded, the value of NFTs plummeted. The value of NFTs is often tied to the value of cryptocurrency, especially Ethereum. As the crypto marketplace went through a downturn, so did the buying power for NFTs.
Is anyone buying NFTs anymore? ›
In the NFT market, transactions are declining and buyers are drying up, highlighted this past Sunday with just 194,689 total global NFT transactions.
What is the future outlook for NFT? ›
Future Outlook
According to a report by Statista, the NFT market is projected to grow by 9.10% by 2028, driven by increased adoption and new use cases. While NFTs offer unique opportunities, investors should carefully consider the risks and potential rewards before investing.
Is the NFT market going to recover? ›
Despite recent downfall, the NFT market is expected to nearly double from $1.6 billion in 2023 to $3.2 billion by 2027, according to data published by Statista. Several key trends underpin this growth.
What is the future scope of the NFT marketplace? ›
Global NFT Marketplace market is projected to reach US$ 1985.9 million in 2029, increasing from US$ 1590.6 million in 2022, with the CAGR of 3.4% during the period of 2023 to 2029.
What is happening to the NFT market? ›
By 2022, however, the NFT bubble was beginning to burst, with NFT trading volumes falling over 97% from January to September of that year, decreasing from $17bn in trading volume in January 2022 to $470m by September 2022, according to Dune Analytics.
