NFT And Its Impact on Digital Economy

 

NFT And Its Impact on Digital Economy

As of now, the Marketcap value of NFTs has increased approximately by  1,787%, which shows the potential of NFT usage and NFT Marketplace growth in 2021 and beyond.

Still Unaware of the term NFT?

NFT is a Non-Fungible Token that has started revolutionizing the digital economy on a large scale. These NFTs help many meme creators, artists, and individuals who own digital assets to earn ownership for their digital works and assets.

These NFTs are being the next big thing in the crypto globe after the DeFi waves.

Recent Stats That Proves NFT Marketplace - A  Profitable Revenue Stream

The global transactions of NFTs recorded in 2018 is $40.96 M and in 2019 is $141.56 M and in 2020 is  $338.04 M.

This concept of NFTs prevails from late 2012, and the first well-known NFT is Jack Dorsey sold for $3 M.

An NFT is known as Everyday: The First 5,000 Days, was auctioned off for $69 M, in 2021.

The NFTs are utilized to show ownership of file format which includes JPEGs, GIFs and MP3, and more.

This shows that utilization of NFTs and NFT Marketplace will be huge in 2021 and beyond.

Thus, launching an NFT Marketplace will be a promising Revenue Streaming Method in this competitive crypto globe.

Important Features of NFT Marketplace Development

Storefront

Filters

Searching for Items

Buy & Bid

Wallet and so on.

Since there are numerous NFT Marketplace development service providers in the market and choosing Bitdeal for your NFT development company will be the right choice as,