Italy Reportedly Leading the Way in the Crypto Art Renaissance
Italy is projected to have a 47.6% growth in its non-fungible token (NFT) market by the end of 2022, according to a report by Research and Markets. This would give the Italian NFT market a valuation of around $671 million and a compound annual growth rate of 34.6% over the next five years, with a spending value of $3.6 billion by 2028. The report attributes Italy’s success in the NFT market to its vibrant art and culture scene, with major luxury fashion brands such as Gucci and Dolce & Gabbana leading the adoption of Web3 technologies and generating significant revenue