The nascent Bitcoin NFT ecosystem could reach a market size of $4.5 billion by 2025, according to a report released Friday by Galaxy Research.
Analysts expect the Bitcoin Ordinal mania of the past two months to be more than a flash in the pan. They predict that demand for the ability to store NFTs on the Bitcoin blockchain will only grow in the coming years.
Galaxy researchers say that even by this summer, the entire product and service infrastructure will be fully developed to meet this growing market.