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Luxury NFTs could become a $56 billion market by 2030 and could see 'dramatically' increased demand thanks to the metaverse, Morgan Stanley says
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Luxury-branded non-fungible tokens could become a $56 billion market by 2030 and could see «dramatically» increased demand thanks to the metaverse, Morgan Stanley said in a note published Tuesday.
As a whole, NFTs could grow to a roughly $240 billion market by 2030, with digital collectibles from luxury brands making up 8% of the space by that time, analysts led by Edward Stanley, said.
«As more aspects of people's lives move to the internet, demand for digital fashion and luxury goods is set to increase dramatically in the coming years,» they said.
In 2021, the analysts estimate that luxury NFTs will only account for less than 1% of the transaction value.
«We think this is about to change,» the strategists said. «The metaverse
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