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

Jan. 20, 2022 5:29 PM ETUAMM, AMTD, TTWO, EA, ATVI, SNAP, META, ETH-USDBy: Max Gottlich, SA News Editor3 Comments

Concept cryptographic nft on a hundred-dollar bill franklin in glasses

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  • As interest in non-fungible tokens rise, the NFT market cap could expand to more than $35B for 2022 and to over $80B for 2025, CoinDesk reports, citing an analyst note from Jefferies.
  • 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.
  • Recall when UA Multimedia (OTCPK:UAMM) recently entered into the metaverse by land acquisition and developing a Sandbox Play-to-Earn game.
  • 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.

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