Galaxy Digital has announced its predictions that the Bitcoin NFT market will reach $4.5 billion by 2025. The company stated that this expected growth would come as NFTs are adopted more widely around the world, converting unique digital assets into NFTs and trading them easily.
Galaxy Digital explained that currently, over $500 million worth of NFTs are traded monthly worldwide, with Bitcoin representing around 5% of that. Many artists and celebrities have begun using NFTs to sell their artwork and make it available to the public.
Analysts believe that NFTs will have a significant impact on the art and culture world, enabling artists and creators to market their work independently, without the need for traditional commercial intermediaries. The Bitcoin NFT market is expected to witness further growth and developments in the coming years as interest in the transition to the digital economy increases.