Rise and Shine of NFTs
NFT has emerged as a dynamic and rapidly expanding sector in recent years
When mentioning the blockchain world, NFT has always been a hot topic. Regarding “non-fungible token”, NFT has emerged as a dynamic and rapidly expanding sector in recent years, capturing the attention of artists, collectors, and investors alike.
According to DappRadar, the NFT market generated approximately $24.7 billion in organic trading volume across blockchain platforms and marketplaces in 2022. Projections suggest that the value of NFT sales could reach an incredible $125.6 billion by 2027. These impressive numbers highlight the significant impact and potential of NFTs in reshaping industries and transforming our perception and valuation of digital assets.
The fluctuation as being effected from macroeconomic
Though having a great upside, the NFT market has still witnessed the fluctuations and tension from the macroeconomic as well as the big players in the industry. After having a disappointing performance in the late 2022, NFT sector bounced back again in the early 2023, as the appearance of advanced trading tools with the mix of De-fi in the sector. The rise and shine of those digital assets, come up with this fluctuation led us to a question on the intrinsic value of NFT - which was previously considered as a promise to transform the economy of the internet.
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