Deutsche Bank believes that the launch of NFT on Instagram will lead to a market boom

Deutsche Bank has presented a report on the NFT market and its prospects. According to these materials, the integration of tokens based on the Instagram platform will lead to an expansive growth of the market.

«Instagram will simplify the process of buying and selling NFTs, thereby lowering the barrier to entry,» the bank says, adding that the brand’s strong global position will help increase customer confidence.

The bank believes that the growth of the NFT market thanks to Instagram could bring Meta shareholders up to $ 8 billion in net annual income.

Among the tech giants, eBay, Twitter, and Snap are already using NFT. The authors of the Deutsche Bank report claim that the NFT market is currently in «hypergrowth mode.» Last year, the volume of transactions with non-fungible tokens amounted to about $ 25 billion, which is about 250 times more than in 2020.

Deutsche Bank states that the market opportunities for NFTs are very large: the total market is estimated at more than $ 1 trillion, including art, collectibles, and games.