NFT Finder

Finder’s NFT predictions report

The market cap of the NFT universe is predicted to double from 7 billion in November 2021 to 14 billion in July 2022 and hit 26 billion by the end of the year, according to Finder’s panel of over 30 fintech specialists. Finder’s panel then predicts the NFT universe market cap will reach 146 billion by the end of 2025.

Thomson Reuters futurist, Joseph Raczynski, gave an end of year market cap prediction of 30 billion and thinks the NFT industry is an important space to watch.

“NFTs are in an explosive exponential growth phase. This trumps what I saw in 2017 with the ICO. NFTs go well beyond art to community of people, or clubs, ownership of companies, and they will own a football club some day soon. This is the digital tokenization of assets – represented by a token. This is a significantly important space to watch grow,” he said.

Finder’s 2021 NFT Adoption Report revealed that just under 3% of American internet users owned a NFT last year and on average the panel expects NFT adoption to hit 6% by the end of 2022.

CoinSmart CEO and cofounder, Justin Hatzman had the highest adoption rate prediction of 10%, alongside Rouge International managing director, Desmond Marshal.

“I think a combination of FOMO and the metaverse is going to shoot that to double digits at least”, said Hatzman.

However while the NFT industry is forecast to grow significantly, not everyone thinks it’s a good thing for the cryptocurrency category. While half the panel says NFTs are enhancing the credibility of the cryptocurrency category, just under a quarter think NFTs are actually undermining credibility.

Galia Digital’s emerging technology consultation, Kate Baucherel put it this way:

“The NFT market has to get through a winnowing of poor quality content and lose the get rich quick / scam label, as crypto had to after the ICO rush. It will clean up and expand.”

CoinFlip founder, Daniel Polotsky, who thinks NFT adoption will hit 5% this year, says NFTs are enhancing the cryptocurrency sector’s credibility.

“NFTs are giving artists and players the ability to issue their work directly to their fans on the blockchain–no shipping needed! Collectors love NFTs, because their existence is confirmed on the blockchain and verified by miners; they can verify the entire history of each piece, and know it isn’t fraudulent. Counterfeiters ruin the fun and value of collecting art/memorabilia, and the blockchain has stepped in to fix this annoying issue once and for all. NFTs give the cryptocurrency industry a lot of credibility, because unlike gold 2.0 or decentralized finance, they are way more relevant to the average person; if something as universal as art can be put on a blockchain, then the possibilities are truly endless”, he said.