According to Statista data, based on current exchange rates and other factors, the NFT markets are expected to be worth $2.7 billion by 2025, less than half the previous forecast.
The non-fungible tokens (NTF, for its acronym in English) were one of the digital assets most affected by the crypto winter of 2022. After the beginning of 2023 with the first two months on the rise, the nft market Once again it suffers headwinds and the projections in the market for the following years sank.
According to Statista data, based on current exchange rates and other factors, the NFT markets are expected to reach a worth $2.7 billion by 2025, less than half the previous forecast.
In 2021, NFT marketplaces had revenue of $810 million, according to Statista data. This figure rose to $890 million last year, despite the fact that 2022 was one of the most difficult years in the history of the cryptocurrency market. In November 2022, Statista projections showed that the entire market would recover significantly and reach a value of $3.68 billion in 2023, and by 2025, this figure would have exceeded $6.2 billion.
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Six months later, Statista’s forecasts became much less rosy. According to the latest data from April, NFT marketplaces are expected to raise around 1.6 billion dollars this year, that is, 56% less than in the previous forecast. This figure will grow by 70% in the next four years and will reach $2.75 billion in 2025, far less than the $6.2 billion previously forecast.
According to this estimate, revenue would grow 80% year-on-year, but would remain well below forecasts prior to 2022.
User forecasts
The forecasts referring to the growth of users are also much less optimistic. If in November, Statista expected the number of people operating in the NFT markets to reach 50.3 million this year and grow to almost 60 million in 2025, now these numbers drop to 13.9 million in 2023 and 18, 3 million in 2025.
On the other hand, other figures that show the current market situation are not particularly optimistic. According to NFTGo data, on May 23, there were 6,054 sellers and 5,056 buyers in the NFT marketplace, data indicating that there are more supply than demand, which can cause several NFT owners to lower their prices, causing a further drop of the market value of these digital assets.
On the other hand, the NFT’s total market capitalization stands at around $7.7 billion, down 42% from the same month last year. Additionally, total NFT sales volume plummeted 68% year-on-year to $9.9 billion.
Source: Ambito
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