NFT Market Place Composition
With countless application and technology possibilities, NFT could become more and more attractive as we move forward in the digital era. According to Non-Fungible.com, NFT's total market capitalization reached $210 million in 2019 and was expected to grow by 50% to $320 million in 2020. The number was also expected to continue to climb by 125% to $710 million in 2021.
Despite its numerous benefits, the adoption of NFTs is still relatively low, and there is a need for mass adoption. Some challenges hampering mass adoption of NFTs are inaccessibility, technology newness, the volatility of transaction fees, difficulty in linking real-world assets to NFTs, and regulations. We are putting in the effort to overcome these challenges. After all, the NFT market has expanded and exploded, disrupting the traditional finance, art, gaming, and music industries.