Morgan Stanley pegs luxury-NFT market at $56bn by 2030

The market for non-fungible tokens (NFTs) could reach $300 billion by 2030, of which $56 billion would pertain to the luxury goods industry. Such estimates are contained in a report by Morgan Stanley analysts, CoinDesk reports.

Premium-category goods manufacturers will boost revenue by embracing NFTs and metaverse tokens.

“These directions will allow luxury-brand owners to monetise the intellectual property created over decades”, the specialists explained.

the sale of Dolce & Gabbana in October of the first NFT collection for 1885 ETH (about $6.3 million at the then-current rate).

Other companies are also discussing potential collaborations with blockchain teams to implement similar initiatives.

According to Morgan Stanley’s estimates, the industry players could expand the size of the addressable market by 10%, and earnings before interest and taxes by 25%.

In April 2021 Vogue Business reported that Italian fashion house Gucci and a number of other luxury brands to launch their own NFTs.

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