NFT market cap could reach over $80B by 2025 - CoinDesk

As interest in non-fungible tokens rise, Jefferies lifts its NFT market cap forecast to more than $35B for 2022 and to over $80B for 2025, CoinDesk reports, citing an analyst note. Specifically, companies and celebrities are acquiring plots of virtual land in The Sandbox and Decentraland (MANA-USD), enabling them to digitally extend their brands, the note says. Meanwhile, the most popular blockchain for minting NFTs and building metaverses, ethereum (ETH-USD), has relatively high gas fees, pushing brands to consider alternative networks, the note highlights. Stocks with exposure to the metaverse include: Meta (NASDAQ:FB), Snap (NYSE:SNAP), Activision Blizzard (NASDAQ:ATVI), Electronic Arts (NASDAQ:EA) and Take-Two Interactive Software (NASDAQ:TTWO). Jefferies prefers that clients diversify into video game, toy, game and social media companies. Previously, (Jan. 6), the NFT market topped $40B in 2021.