HomeCryptocurrency and MetaverseValue Of NFT’s Could Reach $2.8 Billion In 2022

Value Of NFT’s Could Reach $2.8 Billion In 2022

Adidas NFT

Value Of NFT’s Could Reach $2.8 Billion In 2022

NFT’s have seen a massive rise in popularity and 2022 is set to see the industry grow even more.

According to a recent study from Deloitte, NFT’s will be purchased by five million sporting fans in 2022, generating more than USD$2 billion (AUD$2.8 billion) in revenue.

Limited edition videos and sports avatars will hold the most value within the industry, according to the report.

According to Deloitte, scarcity of select NFTs will be the biggest driver, with people pursuing the hard to get items.

Discussing the role of the gaming industry in influencing digital collectible purchases, the Deloitte report also suggested the gaming industry will see tens of billions of dollars spent on virtual currencies for game-related artifacts, which is expected to further drive purchases in the sports industry.

Sportswear giant, Adidas, recently has announced a Bored Yacht Club NFT and Yuga Labs partnership in an effort to join the metaverse.

Adidas released a short statement, saying: “It’s time to entre a world of limitless possibilities.”

The new NFT collaboration will feature 10,000 unique, illustrated avatars which can sell for up to a million dollars.

The new projected has created $1.3 billion across all collections since it was released in April.

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