In the longer term, enthusiasts hope tokens will one day power e-commerce in any metaverse or metaverses, futuristic digital avatar-filled virtual worlds. Here, NFTs could designate ownership of virtual goods, be that clothing for digital avatars or art for the walls of their digital houses.
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How NFTs became a $40b market in 2021
“This year witnessed the NFT market explode from a sub-billion-dollar market to a multi-decabillion industry,” said Mason Nystrom, research analyst at crypto data group Messari, adding that buyers were rushing to uncover art that aligns with their “digital identities”.
