> For the complete documentation index, see [llms.txt](https://nftgogogo.gitbook.io/goatnft/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://nftgogogo.gitbook.io/goatnft/current-market.md).
# Current Market
The current NFT market is experiencing significant growth, with a market capitalization of $22.7 billion at the time of this writing. This market is predominantly led by Profile Picture (PFP) NFTs, which hold a value of $13.4 billion. The remaining $9.4 billion is distributed across various other categories, including Game, Utility, Intellectual Property (IP), Art, and Collectibles.
There's considerable potential for lending and renting within these sectors. NFTs, often perceived primarily as PFPs, have a much broader scope as emphasized in our documentation. They represent a technological innovation with the capability to transform various industries. The true value of NFTs lies in their utilities, and it's this aspect that will drive the popularity of NFT renting and lending.
A notable surge was observed in digital collectible sales, which skyrocketed to $10.7 billion in the third quarter of 2020, a significant increase from $1.3 billion in the second quarter of the same year. Particularly, the Game NFT sector, currently valued at $1.8 billion, shows immense potential. Most Game NFTs are still in the possession phase, with their value expected to increase as Play-to-Earn (P2E) and Player-vs-Player (PVP) games gain popularity.
GoatNFT is not just preparing for the future market but is also actively engaged in the current market dynamics. The growth of GoatNFT is expected to parallel the expanding market size of these NFTs, indicating a promising trajectory for the platform in the evolving NFT landscape.
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