Sports NFT market doubles to $2.6B in 2022
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According to a recent study, sports NFT market has doubled from $1.3 billion to $2.6 billion in 2022, and it is expected to see $41.6 billion by 2032. The Sports NFT market doubled from $1.3 billion to $2.6 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 36.3% to reach $41.6 billion by 2032, a study from Market Decipher shows.
Physical collectibles can be damaged and lose value over time, as opposed to digital ones. Tokenized video clips, player accessories, and cards are the top collectibles that create high returns for holders. Based on the data, NFL, Football, Basketball, Baseball, Cricket, and Ice Hockey are the branches in top demand in the sports NFT market. According to the report, the Statue of LeBron, Brett Gardener from MLB Champions, and Jermall Charlo from Lions Only GOLD ULTIMATE collection are the top three most expensive sports NFTs far.
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