Seeking Alpha 2022-01-20 22:29:02

NFT market cap could reach over $80B by 2025 - CoinDesk

As interest in non-fungible tokens rise, Jefferies lifts its NFT market cap forecast to more than $35B for 2022 and to over $80B for 2025, CoinDesk reports, citing an analyst note. Specifically, companies and celebrities are acquiring plots of virtual land in The Sandbox and Decentraland (MANA-USD), enabling them to digitally extend their brands, the note says. Meanwhile, the most popular blockchain for minting NFTs and building metaverses, ethereum (ETH-USD), has relatively high gas fees, pushing brands to consider alternative networks, the note highlights. Stocks with exposure to the metaverse include: Meta (NASDAQ:FB), Snap (NYSE:SNAP), Activision Blizzard (NASDAQ:ATVI), Electronic Arts (NASDAQ:EA) and Take-Two Interactive Software (NASDAQ:TTWO). Jefferies prefers that clients diversify into video game, toy, game and social media companies. Previously, (Jan. 6), the NFT market topped $40B in 2021.

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.
Helpful Resources: | | |