NFT and Metaverse market is expected to reach $300 billion by 2030, according to Morgan Stanley
Morgan Stanley bank, which is already proving active in our cryptocurrency ecosystem, as reported in April 2021 and July 2021, published last week a survey with interesting numbers indicating that the market for Non-Fungible Tokens (NFT). and games in the Metaverse will grow to around $300 billion by 2030.
They also believe it could represent 10% of the luxury market by 2030, with the possibility of generating more than $56 billion in revenue for this sector alone.
“NFTs and social gaming present two near-term opportunities for luxury brands, allowing them to monetize their vast IP (intellectual property) built over decades,” states the report.
From avatars for social media, to game items in the metaverse, luxury market collections and documentation authenticity. What can this industry reveal in the coming years?
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Dolce & Gabbana’s sale of nine NFTs for $5.7 million last month shows the huge potential for “virtual and hybrid luxury goods,” and the bank estimates that the total NFT market will grow to around $300 billion by 2030.
The banks notes that luxury goods companies are already exploring collaborations with gaming and metaverse platforms, with an increasing number of revenue sharing deals. They believe that could add $10 billion to $20 billion to the luxury sector’s total addressable market.