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Sandeep Kumar Mishra
Mar 4, 2023

Bitcoin NFT Market Will Reach $4.5 Billion By 2025, According To Galaxy

Galaxy Bitcoin NFT
Galaxy Digital research unit has predicted that the Bitcoin NFT market will reach a $4.5 billion market cap by March 2025 in a "base case" scenario.

Galaxy Prediction for Bitcoin NFT Market Based On Ordinals Protocol 

The Ordinals protocol allows users to inscribe data such as images, PDF, video, and audio onto individual satoshis. Bitcoin NFT or Ordinals have attracted a lot of attention. NFT giants such as Yuga Labs have even jumped in on the hype. A notable form of acknowledgment of the Ordinal movement was the announcement by the company behind the Bored Ape Yacht Club of a Bitcoin-based NFT project with the name TwelveFold.

Profile Pictures, Memes, And Utility Projects to Help Reach $4.5 Billion

According to Galaxy's baseline analysis, the report predicted that Bitcoin NFT market capitalization would rise to $4.5 billion if they expand to mainstream NFT culture like Profile Pictures, memes, and utility projects. The estimate of $4.5 billion is also based on the rapid development in inscription awareness coupled with the marketplace/wallet infrastructure.

Bitcoin NFT Market Will Reach $4.5 Billion By 2025, According To Galaxy
Sandeep is an avid cryptocurrency enthusiast and a keen & passionate blogger. He has a strong mix of skills in the areas of computer networking, cryptography, algorithms, and data structures and specializes in ERC20 tokens. Lately, he is taking a lot of interest in blockchain-powered AI solutions, about which he is also reading and writing extensively. He has to his name dozens of deeply researched articles about cryptocurrencies, blockchain, AI, and IoT. Apart from that, he loves to keep track of the latest trends in social media and digital marketing space. Also, as a huge proponent of blockchain and cryptocurrencies, Sandeep tries to deliver all the latest cryptocurrency news to ardent crypto supporters like yourselves. If you like his content, feel free to follow him on LinkedIn.

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