NFTs and the Metaverse: A market exploding in popularity

NFTs have existed for a few years but the market is now exploding, with one digital picture recently selling for $69 million.

Corporations like Visa are buying NFTs and one 12-year-old boy, Benjamin Ahmed, has earnt nearly £300,000 selling his collection.

As seen in the video analysis above, one emerging use of NFTs is video games, where the image itself is used within the game.

“Warriors of Aradena sold out in 30 minutes where we made over $1 million,” said Thomas West, the CMO and founder.

“Some warriors are being sold now for 50 times what they were bought for from us.”

While some see the NFTs as a booming billion-dollar industry, others speculate that it could quickly fizzle out.

Where there could be longer term opportunities for NFTs, or other similar products, is the Metaverse.

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