CryptoMonday (CM) projects that income from crypto and NFT marketplaces will surpass the $70B mark by 2025. Furthermore, the sector will grow at a CAGR of 21% from 2022 to 2025. That way, NFT revenues will jump to $6.9B, nearly a tenth of all crypto trading income.
“The difference in NFT CAGR and their portion of the crypto revenue will possibly impact user adoption,” said CryptoMonday’s CEO Jonathan Merry. He continued, “Market data indicates that crypto adoption will grow at 4.5%, whereas NFT adoption will do so at 1%. This relatively low percentage could be pointing to a niching of the crypto trade for a long while.”
Revenues of NFT marketplaces are surpassing those of stock exchanges
The crypto sector could be niching, alright, but there’s no denying that it is handling colossal sums of money. A recent Optimas study indicates that NFT marketplaces and crypto exchanges generate more revenue than traditional venerated stock exchanges like NYSE and NASDAQ.
Optimas suggests that exchanges like Binance and Coinbase and NFT platforms, including OpenSea and Rarible, earned up to $3M daily in 2021. Most of the crypto generating these earnings comes from very few wallets.
The U.S. leads in NFT revenues
CryptoMonday concludes that the U.S. will play a leading role in NFT adoption. Consequently, the nation will see its revenues in the space jump from about $20.4B in 2022 to $34.5B in 2025. That’s a 169% rise within that time.
India and Japan will follow a distant second and third place. The former will record revenues of $4.67B in 2025, up from $2.6B in 2022, an upswing of 180%. Likewise, Japan will register revenues of $3.85B after growing its 2022 figures by 186%.
Read the full story here: NFT Trading expected to form 10% of all Crypto trading by 2025