International banking giant, one of the largest banks in Germany Deutsche Bank, made a new statement on the crypto money industry. Deutsche Bank’s statement was directly aimed at NFTs and Instagram’s latest move.
NFTs May Achieve Mainstream Adoption
As you know, Twitter NFTAfter the move to use ‘s as profile photos, Instagram also wanted to take a step. In the news, based on one of Instagram’s senior officials, it was emphasized that the platform will offer NFT support very soon.
Although Instagram has not yet definitively confirmed this news, Deutsche Bank It seems that he has already begun to analyze the situation. Actually Facebook aka Meta CEO Mark Zuckerberg He also spoke in a way that confirmed the statements about Instagram. Zuckerberg announced in his speech last month that NFT support may come to Instagram in the near term.
The report by Deutsche Bank highlighted that Instagram’s brand recognition and number of users are factors that can enable NFTs to reach mainstream adoption. The bank analyst, who thinks that Instagram support may be enough for NFTs to reach mass adoption, sees the total value of NFTs over $ 1 trillion. This value has been created by taking into account the leading collectibles and all NFTs in the market.
The bank expects companies like Instagram to enter the cryptocurrency and NFT space to cause a sensation. This could also be a chance for Facebook to increase the value of its shares. Especially BAIC NFT collections and related APE Cryptocurrency, such as cryptocurrencies, may also be affected, according to the bank’s report.