Non-Fungible Token Market Expected to Reach $211.72 Billion by 2030

According to a new report by Grand View Research, the global non-fungible token (NFT) market is expected to reach $211.72 billion by 2030, growing at a compound annual growth rate (CAGR) of 69.4% from 2021 to 2030. The report cites the increasing adoption of blockchain technology and the growing demand for digital ownership and authenticity verification as the major factors driving the market growth. The gaming and art industries are expected to be the major contributors to the NFT market during the forecast period.

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NFT market total sales fell 26.2% to $46 million in June

On July 8th, Binance Research's latest report showed that the crypto market experienced a significant downward trend in June 2024, with an overall decline of up to 11.4%. Due to the market downturn, the TVL (total locked value) of DeFi decreased by 8.7% in June. The NFT market also continued to be sluggish, with a total sales volume of $46 million in June, a decrease of 26.2% compared to May. The monthly sales volume of DMarket, the in-game item trading platform for Mythos, was the highest at $18.9 million, followed closely by CryptoPunks with sales of $16.1 million. The sales of top-tier ordinal series such as BitcoinPuppets and NodeMonkes decreased significantly, by 40.6% and 41.0%, respectively. BoredApeYachtClub's monthly sales volume slightly decreased, while PudgyPenguins performed better than the market, rising by 68.9%.