Nansen report reveals NFT market is growing faster than crypto.

April 15, 2022

Blockchain analytic firm Nansen’s quarterly NFT report revealed that the NFT market has outperformed crypto market this year.

The report predicted NFT’s market valuation to reach $85 billion by 2025.

According to the report, despite a drop across the overall market during the first quarter of this year, NFT market managed to gain 5.9% in the month of Feb and March.

The NFT market outperformed the cryptocurrency market with a 49.9% year-to-date return when denominated in ETH.

Earlier, Amazon CEO Andy Jassy stated that “NFTs will grow very significantly.”

The owner of Bored Ape Yacht Club, Yuga Labs, raised $450 million in funding at a $4 billion valuation in March.

Crypto entrepreneur who bought the NFT of Jack Dorsey’s first ever Tweet for $2.9 million could only get the highest bid of $6,800.