Experts Predict NFT Market Growth Despite Recent Downturn as Digital Ownership Finds Value
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Despite recent downturn, experts foresee NFT market nearly doubling from $1.6B in 2023 to $3.2B in 2027 due to inherent value of digital ownership.
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Integration with real-world assets like real estate and art could broaden NFT appeal by turning illiquid assets into liquid tokenized forms.
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Shift towards value-driven NFTs based on utility rather than speculation is steering the market toward sustainability.
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Environmental impact of NFTs presents an ethical dilemma for eco-conscious consumers interested in NFTs.
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Collaborations between brands, artists and digital art communities promote NFT adoption and mainstream acceptance.