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Report: UAE’s NFT Market Grows 45.5% by $982.1 Million in 2022

Published 2022-12-09, 08:59 a/m
© Reuters. Report: UAE’s NFT Market Grows 45.5% by $982.1 Million in 2022

  • Research and Markets, a leading research firm has released “UAE’s NFT Market Future Growth Databook.”
  • The UAE’s NFT market is booming due to embracing new technology.
  • UAE’s NFT Value would rise from US$982.1 million to US$4746.3 million by 2028.

The world’s largest market research site, Research And Markets has recently released the “UAE’s NFT Market Intelligence and Future Growth Dynamics Databook” for the second quarter of 2022. The report predicts that the UAE NFT sector will exponentially increase by 45.5% per year, reaching$982.1 million in 2022.

The NFT industry is predicted to increase gradually throughout the forecast period, with a compound annual growth rate (CAGR) of 32.1% between 2022 and 2028. It is expected that the NFT Spend Value of the MENA region by 2028 will increase from$982.1 million to$4746.3 million.

The NFT landscape has expanded in the UAE, as more companies, entrepreneurs, and celebrities join the rapidly developing market. UAE is transforming into a worldwide powerhouse in the thriving sector of NFTs.

While more and more nations attempt to put severe regulatory restrictions on NFTs, the UAE has seen a significant increase in the buying, selling, and development of NFTs.

The Middle East and Africa have seen an increase in NFT activity. Art Dubai, the largest contemporary art expo in the Middle East and North Africa, will w ...

The post Report: UAE’s NFT Market Grows 45.5% by $982.1 Million in 2022 appeared first on Coin Edition.

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