American investment bank Jefferies is forecasting a bright future for Non-Fungible Tokens (NFTSs).
In an analysts’ note released Tuesday, the bank raised its market cap forecast for NFTs for the year 2022 to over $35 billion, and to over $80 billion by the year 2025.
Jefferies sees digital assets, such as ‘land’ in Metaverses like The Sandbox and Decentraland, as an emerging technology, and recommends their clients to make investment exposures in companies specializing in this.
The bank mentions several companies by name. For consumer exposure, they think Hasbro, Mattel, Funko and GameStop are a great bet.
For metaverse investments, they believe Meta, Snap, Activision Blizzard, Electronic Arts, Take-Two Interactive Software, Warner Music Group, Universal Music Group and Roblox will be great options.
The analysts also echoed what their counterparts at JP Morgan said earlier this week about Ethereum.
They think that Ethereum’s blockchain dominance is under threat, owing to its congestion and high gas fees.
