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Current Market
The current market cap (time of writing) of NFTs is currently at $22.7B. Judging from the market cap and category, PFPs are valued at $13.4B while the remaining $9.4B consists of other categories.
Just by examining the Game, Utility, IP, Art, and Collectible category, thereโ€™s room for much lending and renting to happen. NFTs arenโ€™t meant to stay as PFPs which is strongly mentioned in all our docs, as NFTs are a technology that have the potential to revolutionize the world. Realization and actual usage of utilizing the utilities of NFTs are why renting/lending will be popular.
Digital collectibles sales increased to USD 10.7 billion in Q3 2020, up from USD 1.3 billion in Q2 2020.Game NFTs are currently sitting at a $1.8B market cap, as most of them are just being held. As P2E and PVP games become popularized, NFTs for these games will grow as well. We have not only been preparing for the future market, but now as well. WeRent will grow in relation to the increase in market size of the said NFTs.
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