BASINGSTOKE, England, Aug 22 (Bernama-BUSINESS WIRE) — A new study from Juniper Research has found the global number of NFT (Non-fungible Token) transactions will rise from 24 million in 2022 to 40 million by 2027. This is based on our medium scenario for adoption, with brands leveraging the metaverse to boost digital growth. It cautioned that although NFTs present a new channel for growth, vendors must be cognisant to the risks of operating in an unregulated environment home to fraudulent activities and scams.
An NFT is a unique token that exists on the blockchain, meaning it cannot be replicated. This unique token could represent real-world items like artworks or music, with the ability to be traded with a transparent transaction history.