After Twitter introduced NFTs to user profiles, the positive impact of Meta CEO Mark Zuckerberg’s statement regarding their efforts to bring the NFT feature to Instagram and Facebook users has influenced forecasts for the NFT market.
A Deutsche Bank report on the subject highlights that the NFT market is currently experiencing hyper-growth.
The report notes that the market reached a transaction volume of $25 billion last year, and it estimates the total addressable market of NFTs, especially in areas like art, games, and collections, to be over $1 trillion.
Emphasizing the potential significant positive impact of Instagram offering NFT features to users, the Deutsche Bank report suggests that Instagram’s entry into this space will play a crucial role in legitimizing NFTs for broader audiences.
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