Another Bored Ape NFTs bought. Here’s why you should buy NFTs before 2026

Namrata Shukla
Source: Twitter and Petapixel

Rock bands, art pieces, entertainers, sporting brands, what do they all have in common? Non-fungible tokens. Everyone in the world is trying to understand what these NFTs are and buying into them. The craze is so much that many researchers believe this market is soon going to flourish in no time. The latest estimate comes from a Non-fungible Token Global Market Report 2022, which claimed the NFTs market to grow from $14.02 billion in 2021 to $82.43 billion in 2026.

To put this data in perspective, the NFTs market is expected to grow to $21.33 billion in 2022. This was at the compound annual growth rate [CAGR] of 52.1%. As per the report explained,

“The change in growth trend is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic. The market is expected to reach $82.43 billion in 2026 at a CAGR of 40.2%.”

The only reason for this mass adoption to kick in was the way it united different artists, collectors, communities, to one form of technology and to be able to own those collections. One such prominent collection of NFTs was the Bored Ape Yacht Club [BAYC] which has been selling at an exorbitant value.

In fact, “NFTs are eating the world,” as per Immutable co-founder and president Robbie Ferguson. The Australian NFT startup recently secured $200M in a Series C funding round and became a unicorn. As per Ferguson, gaming is going to take the world of NFTs to a whole new level.

Ferguson stated,

“NFTs are eating the world. Gaming will serve as the Trojan Horse, allowing your family to trade and hold digital property without them even knowing.”

The participation of the gaming industry has been higher and one thing that can be predicted about the future of the NFTs is their use in gaming. Many ecosystems like Shiba Inu’s are already working on it and with Metaverse making its way, NFTs value may increase exponentially.