Galaxy Digital Research has predicted that the total value of Bitcoin NFTs could reach $10B in a “Bull Case”. This would represent a significant increase from its current value of around $200M.
The Bull Case is contingent on the continued success and growth of the NFT market as a whole. In particular, the idea is that the growing interest and acceptance of NFTs in institutions and the mainstream represent a large growth opportunity. In addition, the increasing adoption of NFTs in gaming, music, collecting, and other applications is expected to drive demand and, in turn, prices. Furthermore, the development of blockchain infrastructure and platforms that enable more efficient liquidity and sales of NFTs could enable easier access and further fuel growth.
Ultimately, whether the total value of Bitcoin NFTs can reach $10B is something that will depend on the continued development of the NFT market as a whole, as well as the potential for mainstream adoption of Bitcoin NFTs in particular.