The NFT market is one of the fastest-growing markets across the globe in the Web3 space. It has been a promising market for users and entrepreneurs because of its less volatility and reliable returns. The market is said to expand across the globe at various paces. Countries in the APAC region are expected to adopt NFTs at a higher pace than the rest of the countries.
NFT Market Growth In India
Globalnewswire.com has established a report sourcing from Market and Research, which mentioned that the “NFT industry in India is expected to grow by 61.6% on an annual basis to reach US$3394.2 million in 2022. The NFT industry is expected to grow steadily over the forecast period, recording a CAGR of 44.1% during 2022-2028. The NFT Spend Value in the country will increase from US$3394.2 million in 2022 to reach US$27067.3 million by 2028.”
This promising market research and the current favoring market conditions make it a suitable time for people to invest in NFTs and for entrepreneurs to dip their toes in the NFT market. Developing an NFT marketplace in India and having a user base in APAC countries will enormously benefit the business owner. However, if you are looking to invest a little into NFTs, then it is essential to look out for trends bound to the geographical region and spots the best NFT marketplace in India to do that
Summing It Up
NFT markets have always been revenue-reaping markets for many people across the globe. In order to be successful in the market, the only essential is to tap into the right potential of the market and switch to market trends accordingly. The current NFT market is dominated by gaming NFT asset sales, and investing in some of the gaming NFTs can add great weight to your NFT portfolio.
