In the past year, NFTs have gone from an underground curiosity to an international phenomenon. They’ve been compared to tulips, artistic masterpieces, and plain-old JPGs — and despite all the (digital) ink spilled about them, most people still have no idea if they’re here to stay.
That’s why L’Atelier BNP Paribas teamed up with NonFungible.com, the world’s most authoritative source for information on the NFT industry, to create NonFungible’s Yearly NFT Market Report 2021. The study charts the explosion of interest in NFTs as an emerging asset class that hit $17.6 billion in sales in 2021, highlighting the growing sophistication of both assets and investors.
“2021 was a breakthrough year for NFTs in terms of the volume and value of transactions, the interest of mainstream brands, the emergence of new digital communities, and the tens of billions of dollars of funding that went into projects. We are, however, yet to see how much of that translates into real products and tangible value for users,” said Nadya Ivanova, COO and & foresight lead at L’Atelier BNP Paribas.
“In 2022, I expect that while the NFT market will continue to be volatile, the better projects will also start to mature technologically, socially and commercially. Beyond the focus on NFTs as popular collectibles, there is currently a real need and an opportunity to build infrastructure and utility services for this emerging market and asset class, such as financial and risk management products. The NFT market has barely pushed the boundaries of its underlying technology.”
Available in Free and Pro versions ($299 USD), the reports are intended to demystify the world of NFTs for both investors and the casual consumer.
You can download a version of the report here in a variety of languages, including English and French. If you’ve ever wanted to get into NFTs, this 95 page introduction is a great place to start.
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