Sign Up
Instagram will easily surpass Opensea to become the world's largest NFT market.
As MarkZuckerberg's photo sharing app, Instagram has confirmed plans to increase crypto digital revenue in the coming months.
Analysts believe the move could attract millions of new consumersNFT space, bringing billions of dollars in revenue to Instagram. Next, let's use data to see why Instagram can kill Opensea. According to the latest analysis released by Deutsche Bank, Instagram will have 2.2 billion monthly active users in 2023, 2% of which will have their own digital assets, and these people will form 44 million NFT users on Instagram.
By comparison,Opensea has about 1.4 million users, which means that it is conservatively estimated that the size of Instagram's NFT users will be more than 30 times that of Opensea. Therefore, it is not surprising that the Opensea platform is about to lose most of its market share. Then, let's make a reasonable assumption - what would happen if each Instagram user only made NFT transactions three times a year, and the average price per time is temporarily conservatively estimated at $250? The answer is that the NFT trading volume on Instagram will reach $33 billion! That's far exceeding Opensea's $23 billion.
AssumptionsInstagram's transaction cost is 2.5%, which will bring $1.7 billion in annual revenue to the platform. If optimistic, it may even increase to $8 billion. Of course, Meta, which owns Facebook and Instagram sub-brands, isn't always that good to launch new products, but generally speaking, they're always better than hardware when launching software products. For example, in the past, Marketplace and Facebookgroups have clearly achieved great success, and users have not received much of their acceptance of Facebook dating products and smartwatch Metawatch. From this perspective, Instagram integrated NFT service is not low. The NFT market is in a rapid growth mode. In addition to its own advantages, the current development status of the NFT market will also inject a cardiotropic agent into Instagram.
In fact,The NFT market is in a fast growth mode and the data will not lie. The global NFT trading volume in 2021 is 250 times that in 2020, and new franchisees will have great market opportunities. German Bank of China analysis: Users who introduce NFT to Instagram will push the entire platform to the mainstream. We believe Instagram will simplify the NFT trading process and lower the entry barrier. In addition, we believe Instagram’s strong global brand awareness will help legalize NFTs and eliminate users’ concerns when trading NFTs. With Instagram launching its NFT service, it may attract more and more new artists to join the ranks of creating NFTs in the future—it will become healthier and produce a flywheel effect as the market grows. In the long run, NFT is likely to become the foundation of the virtual world in the future. In other words, Mark Zuckerberg's new market will fill his gap in the NFT space to meet his ambition to push Meta into a market leader in the virtual world. It is worth mentioning that Twitter has also launched NFT through a subscription service, where users can add their avatar NFT to their personal data pictures. Meanwhile, Snap is expected to quickly follow Twitter's pace and launch NFT in another form on its own platform. While so far, little is known about Instagram’s specific plans to enter the NFT market, it is undeniable that NFT has caused madness around the world, and major companies seem to be eager to try it out. Mainstream platforms such as EBay also plan to launch NFT functions. In addition, some sports brands and Hollywood top studios are unwilling to fall behind and rush to launch their own NFT markets, hoping to get a share of this emerging market. But it is important to note that you don't think that as long as you have an idea, you can easily surpass Opensea and become the world's largest NFT market. After all, not everyone has a huge user base like Instagram
数҈字҈星҈球҈͏
