AI Could Trigger a Record NFT Market Boom — Andrew Kang

Andrew Kang, a renowned crypto investor, stated on social network X that the NFT market is poised for the biggest bull run in history. According to him, artificial intelligence (AI) will play a significant role in NFT purchases, as AI cannot buy luxury physical goods.

Additionally, Kang emphasized that holding NFTs for several years is a justified long-term investment strategy.

Earlier, Kang pointed out that current NFT holders are in no rush to sell their assets, creating a supply shortage. In such conditions, even a small influx of new investors could lead to significant price increases.

Evidence of growing market activity can be seen in recent data. On December 1, NFT trading volume in the EVM ecosystem reached $42.1 million, the second-highest figure this year. Moreover, Kang noted that the Blur platform dominates the market.

The sales growth has also impacted popular collections. Bored Ape Yacht Club (BAYC) tokens saw a price increase of over 75% in a week, Mutant Ape Yacht Club (MAYC) rose by 94%, and Pudgy Penguins increased in value by 29%.

Kang also highlighted the discrepancy in marketplace valuations. For instance, Magic Eden is valued at $3 billion, significantly surpassing Blur, despite the latter's dominant market share. He believes that launching a revenue-sharing mechanism for Blur token holders could enhance their value.

If these predictions materialize, the NFT market is on the brink of significant changes. What do you think — when will it happen?