According to Yahoo Finance, the global NFT market size is expected to grow from USD 3.0 billion in 2022 to USD 13.6 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 35.0% from 2022 to 2027. These are staggering metrics that highlight the importance of this new technology.
But, what are NFTs? Forbes Magazine defines them as «digital asset that represents real-world objects like art, music, in-game items and videos. They are bought and sold online, frequently with cryptocurrency, and they are generally encoded with the same underlying software as many cryptos». NFTs come in many shapes and forms and now the Bitfari DAO has debuted an NFT marketplace for «digital land» or virtual billboards projected on top of real land, viewable thru AR glasses, smartphones and other personal computing devices.
At the time of writing this article, the most expensive NFT ever to be sold is The Merge by Pak. It was sold for $91.8 million on Nifty Gateway in December 2021. NFT sales on average tend to range anything between $10 million to $20 million per week, according to data shared by NonFungible.com. Though, there’s been some wild weeks in 2021 where the weekly sales added up to more than $170 million.
NFTs minted on Bitfari’s marketplace can be used to project ads, communicate with people in the area, and deploy local applications that create a digital layer of versatility around the place. Bitfari has created over 40 networks to project information on top of digital land and has already sold more than 4000 digital land NFTs. At the time of this writing, Bitfari holds the #1 NFT collection by daily volume on the popular NFT marketplace Gamma.io and is the second most executed smart contract on the Stacks Network (a blockchain that provides smart contracts for Bitcoin).
Bitfari is an advertising DAO that buys and acquires ad space in bulk, passing deep discounts and free targeting technologies to its users. Bitfari sells deeply discounted ads on digital billboards, smartphones, TVs, and computers to advertisers while providing targeted content to end-users.