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By 2030, the global market for non-fungible tokens is anticipated to be worth USD 223.19 billion, with a compound annual growth rate (CAGR) of 33.6% between 2023 and 2030.
Unique digital assets developed on blockchain technology, such as Ethereum, are known as non-fungible tokens (NFTs). NFTs cannot be converted into another NFT or traded for another NFT in the same way that fungible cryptocurrencies like Bitcoin or Ethereum can. All NFTs have their own unique characteristics that set them apart from one another. The capacity of NFTs to represent ownership or legitimacy of digital assets including artwork, music, films, virtual real estate, and more has attracted a lot of attention. In the digital arena, they allow for the establishment of verified scarcity and ownership, opening up prospects for new markets and revenue streams for producers and collectors. While there is ongoing discussion regarding the impact NFTs have on the environment and their long-term value, there has been a rise in the popularity of digital art and collectibles, with high-profile sales and auctions grabbing attention.
This study breaks down the global market for non-fungible tokens into distinct submarkets, complete with estimates for future revenue and in-depth analyses of current industry trends. This research examines the opportunities, threats, and factors that are shaping the global market for non-fungible tokens. The competitive landscape has been drawn taking into account the most up-to-date market changes and tactics, including growth, product launch and development, collaboration, merger, and acquisition. The global non-fungible token market is broken down into sub-segments, and the study assesses the core competencies of the leading market players in each of those segments.
Influential Elements
The increasing need for digital scarcity and provenance, as well as the rising popularity of digital asset ownership, are two of the primary forces propelling the non-fungible token (NFT) industry. NFTs let producers to earn money from their work and collectors to possess and trade digital assets in a novel way. Because they give a trustworthy and unalterable record of ownership, NFTs have become increasingly popular alongside the development of blockchain technology, which allows for decentralised and transparent systems. The widespread use of digital currencies and the convenience of NFT transactions have also contributed to the expansion of the sector. Moreover, the presence of prominent artists, celebrities, and businesses in the NFT area has garnered more attention and expanded the audience. Finally, the development of NFT marketplaces and platforms has enabled the purchase, sale, and presentation of NFTs, resulting in a flourishing ecosystem for NFT creators and collectors.
Limiting Circumstances
Concerns regarding the environmental impact of NFTs, notably their energy usage owing to the underlying blockchain technology, have placed certain constraints on the NFT market. The issues of sustainability and carbon footprints have been called into question. Uncertainties about ownership rights, intellectual property protection, and investor safeguards arise from the lack of legislation and legal frameworks around NFTs. In addition, there have been cases of fraud and scams in the market, which has eroded consumers' faith. Investors run the risk of losing money because to the NFT market's high volatility and speculative character. Concerns regarding the long-term worth and sustainability of the market have been raised due to the possible bubble-like behaviour and price volatility in the NFT area.
The global market for non-fungible tokens is divided into two distinct submarkets—physical assets and digital assets—based on their respective natures. Non-fungible token (NFT) market share has been significantly taken up by the digital asset industry. The widespread prevalence of digital assets is due to a number of interrelated causes. NFTs are a concept that can only exist in the digital realm. Digital assets such as artwork, music, films, virtual real estate, and more can have their ownership and legitimacy represented by NFTs. Therefore, digital assets are widely used and widely adopted NFTs. The ability to tokenize digital assets and sell them as NFTs has given creators, artists, and content owners new ways to make money off their work. Furthermore, the digital asset market is home to an abundance of original and varied content that can be enjoyed by people all over the world. Particularly flourishing and popular in the NFT sphere is the field of digital art. Tokenizing and selling NFTs created from original and visually appealing digital artworks opens up a new market for artists to promote and sell their work directly to collectors. The digital asset market also gains from the digital world's ease of use and widespread accessibility. It is simple for collectors to acquire and manage their NFTs because they can be bought, sold, and exchanged on numerous internet platforms and marketplaces. Due to the worldwide nature of the digital market, digital assets have the potential to attract a far larger audience, driving up their value. The rising interest in digital ownership and virtual experiences, as well as the demographic of "digital natives," make the digital asset market a natural fit. Digital assets in immersive digital worlds are becoming more desirable and valuable because to the proliferation of VR and AR technology.
Report Coverage
Global Non-fungible Token research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Non-fungible Token report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Non-fungible Token competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Non-fungible Token market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Non-fungible Token market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Non-fungible Token market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Cloudflare (US), Gemini Trust (US), OpenSea (US), Semidot Infotech (US), Dapper Labs (Canada), The Sandbox (China), Axie Infinity (Vietnam), Rarible (US), Art Blocks (US), Foundation (US), Superrare (US), Mintbase (Portugal), Larva Labs (US), Appdupe (India), CryptoKitties (Canada), Sorare (France), Yellow Heart (US), Onchain Labs (China), Solanart (France), Gala Games (US), PLBY Group, Inc., Dolphin Entertainment, Inc., Takung Art Co., Ltd., Gemini Trust Company, LLC., Antier Solutions Pvt. Ltd., Funko.
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Non-fungible Token market based on the below-mentioned segments:
Global Non-fungible Token Market, By Type
Physical Asset
Digital Asset
Global Non-fungible Token market, By Application
Collectibles
Art
Gaming
Utilities
Metaverse
Sport
Others
Global Non-fungible Token Market, By End User
Personal
Commercial
Global Non-fungible Token market, Regional Analysis
Unique digital assets developed on blockchain technology, such as Ethereum, are known as non-fungible tokens (NFTs). NFTs cannot be converted into another NFT or traded for another NFT in the same way that fungible cryptocurrencies like Bitcoin or Ethereum can. All NFTs have their own unique characteristics that set them apart from one another. The capacity of NFTs to represent ownership or legitimacy of digital assets including artwork, music, films, virtual real estate, and more has attracted a lot of attention. In the digital arena, they allow for the establishment of verified scarcity and ownership, opening up prospects for new markets and revenue streams for producers and collectors. While there is ongoing discussion regarding the impact NFTs have on the environment and their long-term value, there has been a rise in the popularity of digital art and collectibles, with high-profile sales and auctions grabbing attention.
This study breaks down the global market for non-fungible tokens into distinct submarkets, complete with estimates for future revenue and in-depth analyses of current industry trends. This research examines the opportunities, threats, and factors that are shaping the global market for non-fungible tokens. The competitive landscape has been drawn taking into account the most up-to-date market changes and tactics, including growth, product launch and development, collaboration, merger, and acquisition. The global non-fungible token market is broken down into sub-segments, and the study assesses the core competencies of the leading market players in each of those segments.
Influential Elements
The increasing need for digital scarcity and provenance, as well as the rising popularity of digital asset ownership, are two of the primary forces propelling the non-fungible token (NFT) industry. NFTs let producers to earn money from their work and collectors to possess and trade digital assets in a novel way. Because they give a trustworthy and unalterable record of ownership, NFTs have become increasingly popular alongside the development of blockchain technology, which allows for decentralised and transparent systems. The widespread use of digital currencies and the convenience of NFT transactions have also contributed to the expansion of the sector. Moreover, the presence of prominent artists, celebrities, and businesses in the NFT area has garnered more attention and expanded the audience. Finally, the development of NFT marketplaces and platforms has enabled the purchase, sale, and presentation of NFTs, resulting in a flourishing ecosystem for NFT creators and collectors.
Limiting Circumstances
Concerns regarding the environmental impact of NFTs, notably their energy usage owing to the underlying blockchain technology, have placed certain constraints on the NFT market. The issues of sustainability and carbon footprints have been called into question. Uncertainties about ownership rights, intellectual property protection, and investor safeguards arise from the lack of legislation and legal frameworks around NFTs. In addition, there have been cases of fraud and scams in the market, which has eroded consumers' faith. Investors run the risk of losing money because to the NFT market's high volatility and speculative character. Concerns regarding the long-term worth and sustainability of the market have been raised due to the possible bubble-like behaviour and price volatility in the NFT area.
The global market for non-fungible tokens is divided into two distinct submarkets—physical assets and digital assets—based on their respective natures. Non-fungible token (NFT) market share has been significantly taken up by the digital asset industry. The widespread prevalence of digital assets is due to a number of interrelated causes. NFTs are a concept that can only exist in the digital realm. Digital assets such as artwork, music, films, virtual real estate, and more can have their ownership and legitimacy represented by NFTs. Therefore, digital assets are widely used and widely adopted NFTs. The ability to tokenize digital assets and sell them as NFTs has given creators, artists, and content owners new ways to make money off their work. Furthermore, the digital asset market is home to an abundance of original and varied content that can be enjoyed by people all over the world. Particularly flourishing and popular in the NFT sphere is the field of digital art. Tokenizing and selling NFTs created from original and visually appealing digital artworks opens up a new market for artists to promote and sell their work directly to collectors. The digital asset market also gains from the digital world's ease of use and widespread accessibility. It is simple for collectors to acquire and manage their NFTs because they can be bought, sold, and exchanged on numerous internet platforms and marketplaces. Due to the worldwide nature of the digital market, digital assets have the potential to attract a far larger audience, driving up their value. The rising interest in digital ownership and virtual experiences, as well as the demographic of "digital natives," make the digital asset market a natural fit. Digital assets in immersive digital worlds are becoming more desirable and valuable because to the proliferation of VR and AR technology.
Report Coverage
Global Non-fungible Token research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Non-fungible Token report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Non-fungible Token competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Non-fungible Token market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2022 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | Cloudflare (US), Gemini Trust (US), OpenSea (US), Semidot Infotech (US), Dapper Labs (Canada), The Sandbox (China), Axie Infinity (Vietnam), Rarible (US), Art Blocks (US), Foundation (US), Superrare (US), Mintbase (Portugal), Larva Labs (US), Appdupe (India), CryptoKitties (Canada), Sorare (France), Yellow Heart (US), Onchain Labs (China), Solanart (France), Gala Games (US), PLBY Group, Inc., Dolphin Entertainment, Inc., Takung Art Co., Ltd., Gemini Trust Company, LLC., Antier Solutions Pvt. Ltd., Funko. |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Non-fungible Token Market from 2021 to 2030.
- Market Forecast for Non-fungible Token Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Non-fungible Token competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Non-fungible Token
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Non-fungible Token market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Non-fungible Token market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Cloudflare (US), Gemini Trust (US), OpenSea (US), Semidot Infotech (US), Dapper Labs (Canada), The Sandbox (China), Axie Infinity (Vietnam), Rarible (US), Art Blocks (US), Foundation (US), Superrare (US), Mintbase (Portugal), Larva Labs (US), Appdupe (India), CryptoKitties (Canada), Sorare (France), Yellow Heart (US), Onchain Labs (China), Solanart (France), Gala Games (US), PLBY Group, Inc., Dolphin Entertainment, Inc., Takung Art Co., Ltd., Gemini Trust Company, LLC., Antier Solutions Pvt. Ltd., Funko.
Primary Target Market
- Market Players of Non-fungible Token
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Non-fungible Token market based on the below-mentioned segments:
Global Non-fungible Token Market, By Type
Physical Asset
Digital Asset
Global Non-fungible Token market, By Application
Collectibles
Art
Gaming
Utilities
Metaverse
Sport
Others
Global Non-fungible Token Market, By End User
Personal
Commercial
Global Non-fungible Token market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
About This Research
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