NFT Market Overview in 2021 — User Safety, and Switzerland Regulatory Measures and more
Non-fungible tokens increased its presence in early 2021 (NFT). By the end of the year, they had grown in popularity. Experts assessed the global market capitalization of the NFT universe at $7 billion. Sales of digital tokens "hover" around $2 billion each month.
Everyone who follows the NFT market understands that investors are attracted partly because they believe they can get a high return on investment by acquiring NFTs and then selling them for a profit later. However, the evidence reveals that NFTs are far from a sure thing.
Over the last year, non-fungible tokens (NFTs) have surged in popularity. Unlike typical cryptocurrencies, which have interchangeable units, NFTs are blockchain-based digital products with units that are supposed to be distinctive.
The Swiss Parliament passed new Blockchain and Distributed Ledger Technology rules in 2021. (DLT Framework). As a result, Switzerland has taken another step toward maintaining its status as a significant jurisdiction for FinTech, Blockchain, and DLT technologies and initiatives.
For Swiss financial service companies, compliance seems more demanding than ever. The growing costs and increasing complexity of market-specific regulatory systems provide a significant challenge for banks. Users have transferred at least $26.9 billion in cryptocurrencies to two types of Ethereum smart contracts linked to NFT markets and collections so far in 2021.
Artificial intelligence (Al), machine learning, and big data are all becoming more popular in Switzerland. It is undeniable that digitization plays an increasingly important part in our everyday lives, putting pressure on all economic players to keep up with the times.
The entire of Al raises a lot of issues. As a result, several institutes in Switzerland are pursuing research to answer issues about ethics and the hazards and opportunities of Al innovation.
NFT creators usually begin generating exposure to new projects long before the first assets are released, amassing a loyal following that helps promote the project from the start.
One of the most successful NFT collectors' investing approaches in various collections looks to be paying off since their winnings tend to be spread out more equally over more deals than others.
Source:
The Chainalysis 2021 NFT Market Report. Everything You Need to Know About the NFT Market and Its Most Successful Collectors
