Amazon’s CEO suggested that he envisions a bright future for non-fungible tokens as well. He stated that he expects to see significant growth from this technology. Jassy also believes that in the future, e-commerce giants such as Amazon may be involved in selling NFTs. Seeing as NFTs are not limited to simple pictures, and the proof of ownership, which is recorded on a blockchain, can be assigned to all manner of assets, the potential is definitely there. Music, art, and movies could all one day become NFTs on platforms that choose to involve this digital token system.
Whether one likes NFTs or not, it’s hard to deny the intense growth the technology has seen over the past couple of years. According to a CNBC interview with the co-founder of Nonfungible.com, a whopping $17.6 billion worth of NFTs were traded in 2021. That’s a 21,000% growth from 2020 — yes, twenty-one thousand percent.
At the moment, there are no obvious signs of an ending to this exponential development. NFTs fluctuate in value a lot, just like cryptocurrency, and the market is highly volatile. Much like in crypto, some NFTs can be flipped for a massive profit, while others are a total bust. However, the idea that there is a growing number of people choosing to get involved with NFTs in one way or another is no longer a matter of opinion.
