Recent indications hint at a potential resurgence in the NFT market, marked by Ethereum’s non-fungible tokens surpassing the $1 billion mark for the first time since May 2022.
Platforms like OpenSea, Rarible, and SuperRare have evolved into thriving hubs, attracting significant funding and generating substantial revenue. Statista projects a robust annual growth rate of 27.26% in NFT market revenue from 2022 to 2027, with an estimated total of around $8,412 million by 2027.
However, prospective investors should prioritize acquiring a comprehensive understanding of Ethereum’s technological underpinnings and ecosystem before venturing into the NFT marketplace. This involves gaining proficiency in programming languages such as Solidity and Vyper, familiarizing oneself with development frameworks like Truffle and Embark, and grasping the nuances of infrastructure services like IPFS and Infura.
In this blog, We’ll explore What Ethereum blockchain & How to create NFT Marketplace Ethereum?