Conform datelor analizate de BitcoinCasinos.com, the forecast for long-term NFT markets is anything but positive.
In fact, these are estimated to reach a value of $ 2.7 de miliarde de by 2025: less than half the previous forecast. Below are all the details.
Some predictions about the NFT market
After a positive start in 2023 and several good months, the once booming NFT market has encountered new challenges and recorded weak sales data, disappointing growth projections for the coming years.
In fact, although revenues are growing 80% year-on-year, they remain significantly below pre-2022 forecasts.
As is well known, the cryptocurrency winter has greatly reduced investor interest in NFTs, with the number and value of sales much lower than in the previous year.
In addition, the weak performance of NFTs in recent months has also lowered optimistic prospects for future market growth. We see that, in 2021, NFT markets generated $ 810 de milioane de in revenue, according to Statista data.
This figure increased to $ 890 de milioane de last year, despite 2022 being one of the most difficult years in the history of the cryptocurrency market.
In November 2022, Statista’s forecast indicated a remarkable recovery of the entire market, with an estimated value of $ 3.68 de miliarde de in 2023 and over $ 6.2 de miliarde de de 2025.
However, six months later, Statista’s forecasts have been significantly scaled back. Indeed, according to the latest data from April, the Non-Fungible Token market is expected to generate about $1.6 billion this year, which is Cu 56% mai puțin than the previous forecast.
It is expected to grow by 70% over the next four years, reaching $ 2.75 de miliarde de in 2025: a much lower figure than the $6.2 billion previously projected.
Sellers outpace buyers in Non-Fungible Token markets
According to the data, we see that user growth projections are also much less optimistic.
In November, Statista projected that the number of people trading in NFT markets would reach 50.3 milioane de euro this year and increase to nearly 60 milioane de euro de 2025.
However, now these figures have been reduced to 13.9 milioane de euro în 2023 şi 18.3 milioane de euro în 2025.
The latest market forecasts were released following troubling data on the number of active Portofele NFT and the total number of buyers and sellers in this market.
În conformitate cu NFTGo data, as of 23 May there were 6,054 sellers and 5,056 buyers in the NFT market.
This data raises concerns because a large number of sellers indicates an oversupply relative to demand, which could push many NFT owners to reduce prices, leading to a further decline in the market value a NFT-urilor.
The total market capitalization of NFTs amounted to about $ 7.71 de miliarde de at the time of writing, which is a 42% decrease from the same month of the previous year.
Meanwhile, total NFT sales volume decreased 68% year-on-year to $ 9.9 de miliarde de.
Investments in major NFT projects lose 95% of their value in Ether
Investments in major NFT projects, such as Doodles, Invisible Friends, Moonbirds and Goblintown, suffered losses of up to 95% of their value in Ether (ETH).
In addition, the value of high-quality NFT collections, known as blue-chips-uri, also declined by more than 40% on average.
Not only that, data provided by NFTGo show that the blue-chip index has fallen to 7.446 ETH, down from the annual peak of 12.394 ETH reached in July 2022.
Cu toate acestea, în ciuda acestui fapt tendință descendentă, not all investors in the NFT sector have been discouraged.
In fact, while some anticipate further prolonged NFT price depreciations, other investors believe that now is the right time to take action, anticipating a possible recovery in the future.
Source: https://en.cryptonomist.ch/2023/06/02/nft-market-reach-2-7-billion/