The NFT market is currently booming, and is gradually accepted by society. This market is prosperous in various aspects, and has produced so many big winners. One of these big companies that have made a name for itself in the NFT market is the Nifty Gateway owned by the Winklevoss twins.
Messari predicts Nifty Gateway’s valuation at $1.2 billion
The Nifty Gateway was acquired by Cameron and Tyler Winklevoss in November 2019, and is now known to be the biggest NFT platform in the NFT market with a net worth of $774 million, which is predicted to increase to about $1.2 billion. This was predicted by a known crypto data and research platform, Messari.
The report from Messari is simply an overview from the NFT market in general which has been making a statement this past few weeks due to the big sales from NFTs like Grimes, Beeple etc.
What are NFTs?
NFTs, also called Non-fungible tokens, are a different kind of cryptographic token that represents something special. They are created on a smart contract platform (mostly Ethereum). It has provided a better mechanism for the assignment of possession to digital images and assets.
The National Basketball Association has recently launched a committed NFT platform known as Top Shots and Taco Bell.
NFTs have been in existence for years, and just recently became famous months ago. The sales volume of NFTs increased by 29 times in February, and Nifty Gateway owned by the Winklevoss twins still remains the largest platform in the NFTs market. Another platform, Open Sea is the runner-up, following the Nifty gateway, and is known to be worth about $321 million to $498 million. But, this data of the Open Sea depends on if it does well in the market throughout the year.
This data was predicted from one of the two models of predicting NFT revenue in 2021 which is the most conceptual of the two models. The second model defines the predicting of NFT revenue by calculating the revenue based on the accomplishment of the NFT market Rarible and the RARI token, and this model placed the value of the Nifty Gateway at $5.5 billion to $8.6 billion.