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The Italian luxury market and NFTs: a marriage that works well

The Italian luxury market and NFTs: a marriage that works well

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For some time now, the NFT market has been attracting interest in Italy, across all sectors. The numbers speak for themselves: in the second quarter of 2022, the NFT industry is expected to grow 47.6 percent in the country on an annual basis. And it is expected to reach more than $671 million in 2022.


According to the Italy NFT Market Intelligence report, the NFT industry in Italy has a bright future. The value of NFT spending in the pizza country is expected to grow from $671.4 million in 2022 to $3,633 million by 2028.

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These digital tokens have indeed become commonplace in Italy for some time.


Young transalpine artists are thus exchanging their works for cryptocurrency. In July 2021, the auction house Cambi Auction House organized the first crypto art auction in Italy. The sale of these boldly designed and unconventional works was implemented to help artists create living art.


Italy, a pioneer in the generation of NFT artists, has in fact ranked third in the world for total gross sales in this major NFT market.


NFTs, a new perspective on the future?


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