Non-fungible Token (NFT) Market size is set to grow by USD 113.93 billion from 2022-2027 | The increasing demand for digital art to drive the market growth

NEW YORK, Nov. 29, 2023 /PRNewswire/ — The Non-Fungible Token (NFT) market size is estimated to grow by USD 113.93 billion from 2022 to 2027, according to Technavio. The market is estimated to grow at a CAGR of 35.02% during the forecast period. The increasing demand for digital art significantly drives market growth, characterized by computer-generated visual content. Globally, Non-Fungible Tokens (NFTs) have increased in the digital art realm, facilitated through online platforms and social media. NFTs serve as links between digital artworks and tokens, allowing artists or owners to set prices and certify ownership through unique keys. Artists can offer limited edition NFTs or create new variations, enabling increased sales and boosting market growth during the forecasted period. For more insights on the historic (2017 to 2021) and forecast market size (2023 to 2027)  buy…