Why the NFTs Market Will Keep Growing: In Detailed
The NFTs market is growing at a growing rate. This article explores some of the reasons why the NFTs market will keep growing. Overall, there is a growing shift
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ScarcityOne of the reasons that the NFTs market will keep growing is their scarcity. NFTs are scarce, and this is one of their most significant sources of value. NFTs are unique and non-interchangeable. And this means that if you create your NFT today, there will never be another one like it. Additionally, unlike cryptocurrencies which are many, NFTs are very few. All these factors make NFTs scarce, which has implications for market growth. In business and investment, scarcity is a good thing. Scarce products or services tend to have higher values. They also tend to be in high demand. Since NFTs are low in supply, they tend to have high values, which is an attractive factor for investors. Who wouldn't want to invest in an asset that has high value?