Galaxy Thinks Bitcoin NFT Market Has Positive Outlook To Hit $4.5 Billion By 2025

Galaxy Thinks Bitcoin NFT Market Has Positive Outlook To Hit $4.5 Billion By 2025 \n \n Galaxy Digital estimates that the market for Bitcoin NFTs based on inscriptions and ordinals will be worth $4.5 billion by 2025. Galaxy researchers investigated the potential expansion of Bitcoin NFTs and generated conservative estimates based on the existing size of the Ethereum NFT market. Galaxy estimates that Bitcoin NFTs might still attain a market worth of $1.5 billion. Galaxy researchers examined the potential expansion of Bitcoin NFTs in a new analysis published on March 3 and generated conservative estimates based on the present size of Ethereum’s NFT market and its growth rate over the previous several years. According to Galaxy’s baseline estimate, if Bitcoin NFTs can grow to mainstream NFT cultures such as PFPs (Profile Pictures), memes, and utility projects, the market valuation should reach $4.5 billion. Based on the firm’s investigation, the report gave three distinct market cap estimates, spanning a bear case, base case, and bull case scenario.