Is $23 billion in annual sales volume a fad? How about a 5-year-old market that grew 240X—24 thousand percent—in the last year1. Does that get your attention?
The market in question is the non-fungible token (NFT) arena, which, for many businesses, has quickly moved from descriptions like “cute” and “that can’t last” to real questions like: “OK, so what do we need to do here, people?”
Indeed, the NFT market is a significant emerging business opportunity, and especially for media and entertainment companies with valuable intellectual property, as we outline in our new report, Navigating Opportunities in NFTs. The report cuts through the considerable NFT noise to provide companies with a detailed framework to both establish an NFT strategy and then operationalize it.
Because, with another $12 billion in NFT trading volume already in Q1 20222, it’s time for companies to move beyond wait-and-see and start figuring out which parts of this rapidly trending new market require real go-forward planning—and which are just Pokemon Go.