Report Scope & Overview:
Non-Fungible Token Market size was valued at USD 1.98 Bn in 2022 and is expected to reach USD 20.47 Bn by 2030, and grow at a CAGR of 33.9% over the forecast period 2023-2030.
Non-fungible tokens (NFTs) are blockchain-based cryptographic assets that include unique identifying codes and data that make them apart from one another. They cannot be sold or exchanged for counterparts, unlike cryptocurrencies. Fungible tokens, on the other hand, such as cryptocurrencies, are identical to one another and may thus be traded.
To get more information on Non-Fungible Token Market - Request Sample Report
Non-fungible Tokens are readily exchangeable and individually unique digital assets maintained on various blockchain, including Ethereum, Matic, Flow, Wax, and others. NFTs exist not just in a digital domain, but they may also represent any form of a physical asset, operating as a kind of "digital twin" to anything in the real world and allowing the ownership and trade of tangible assets inside digital marketplaces. True ownership is one of the defining important components of any NFT, and as digital economies grow, there's a good likelihood that NFT will play a vital part in bringing the digital and physical worlds closer together than they've ever been.
In February 2022, KPMG Canada completed its first venture into this fast-increasing technical breakthrough by purchasing digital art from the highly acclaimed World of Women (WoW) non-fungible token (NFT) collection.
Etisalat Group announced today the introduction of its first batch of non-fungible tokens in May 2022. (NFTs). As the first technology and investment conglomerate in the Middle East to introduce NFTs, this is a significant milestone for e&. It supports the company's objective of making a difference at every touchpoint by conceiving and implementing best-in-class creative solutions, leveraging sophisticated technology, and maintaining cutting-edge infrastructure.
Celebrity Influence Is Growing, Helping to Fuel Nft Adoption.
The Gaming Industry is Being Revolutionized.
Demand for digital artworks is slowly but steadily increasing.
Copyright protection Concerns.
Nft Is Getting More Popular in Supply Chain Management, Retail, And Fashion
Industry Giants' Efforts to Make Metaverse A Reality
Fees That Are Both High and Hidden.
For Nft, there is a lack of legal representation, compliance, and regulations.
IMPACT OF COVID-19:
COVID-19 accelerated the adoption of NFT technology in addition to many other conventional sectors, particularly NFT connected to art, which is still a relatively esoteric issue with a lot of conjecture. Because art galleries and other NFT-related assets were shuttered due to lockdown at the start of the pandemic, art vendors and collectors were compelled to use the internet arena. According to Fuel Arts, when art fairs moved online, galleries mastered virtual reality, and auction houses provided mixed bids mixing art and luxury products, the desire for innovation in the art sector grew, attracting a slew of entrepreneurs and venture money. This resulted in a surge of new payment ways and instruments to assist users to generate, managing, and selling NFTs, allowing users to benefit from the Art+Tech-powered NFT technology.
In 2021, the digital asset sector led the market, accounting for the largest proportion of worldwide sales. The increased usage of NFTs by artists throughout the world to secure ownership of digital creations is likely to boost segment growth. Artists may benefit from their work by preserving ownership of it through NFTs, and they are not obligated to provide it to other platforms for promotion. Over the projected period, the physical asset category is expected to develop significantly. NFTs are digital tokens that may also be used to buy actual goods like a house, a painting, or a car. NFTs are shown on physical things as a barcode or tag, which may be encoded and traded in place of tangible items.
In 2021, the collectibles category led the market, accounting for the largest part of worldwide sales. NFT coins that may be minted in NFT marketplaces are known as crypto-collectibles. The increased demand for crypto collectibles can be linked-to advantages such as asset independence and ease of use. Over the projection period, the sports category is predicted to increase steadily. NFTs are gaining popularity in the sports industry throughout the world since they allow sportsmen to market their identities while also increasing fan involvement.
In 2021, the non-fungible token (NFT) market was led by the personal segment, which accounted worldwide highest revenue share. One of the primary elements driving the segment's rise is rising expenditure on digital assets throughout the world. Over the projection period, the commercial category is expected to increase at the fastest CAGR. The increasing usage of NFTs for commercial objectives, such as supply chain management and logistics innovation, is likely to propel the industry forward. Companies in the logistics industry are progressively incorporating blockchain technology into their operations, opening up new prospects for the industry's growth.
KEY MARKET SEGMENTS:
On The Basis of Type
On The Basis of Application
Computer Generated Painting
2D/3D Computer Graphics
Trading Card Game (TCG)
Strategy Role Playing Game (RPG)
On The Basis of End-Use
Need any customization research on NFT Market - Ask For Customization
In 2021, North America led the market. The regional market is growing due to the increased use of NFTs by millennials in the region. At the same time, the increase in the number of artists generating digital artwork in nations like the United States and Canada is likely to fuel regional market growth. Over the projected period, the Asia Pacific market is predicted to develop at the fastest rate. The region's market development is likely to be fueled by the increasing usage of cryptocurrencies in Asia Pacific countries. A rise in the number of companies in the region developing metaverse platforms is also projected to boost industry growth. Additionally, the region's burgeoning gaming sector is opening up new business potential.
Rest of Europe
Rest of Asia-Pacific
The Middle East & Africa
Rest of Middle East & Africa
Rest of Latin America
The major key players are YellowHeart, LLC., Cloudflare, Inc., PLBY Group, Inc., Dolphin Entertainment, Inc., Funko,Ozone Networks, Inc., Takung Art Co., Ltd., Dapper Labs, Inc., Gemini Trust Company, LLC., Onchain Labs, Inc. & Other Players
|Market Size in 2022||US$ 1.98 Bn|
|Market Size by 2030||US$ 20.47 Bn|
|CAGR||CAGR of 33.9% From 2023 to 2030|
|Report Scope & Coverage||Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook|
|Key Segments||• by Type (Physical Asset and Digital Asset)
• by Application (Collectibles, Art, Gaming, Utilities, Metaverse, Sport, Others)
• by End-Use (Personal and Commercial)
|Regional Analysis/Coverage||North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
|Company Profiles||YellowHeart, LLC., Cloudflare, Inc., PLBY Group, Inc., Dolphin Entertainment, Inc., Funko,Ozone Networks, Inc., Takung Art Co., Ltd., Dapper Labs, Inc., Gemini Trust Company, LLC., Onchain Labs, Inc.|
|Key Drivers||• Celebrity Influence Is Growing, Helping to Fuel Nft Adoption
• The Gaming Industry is Being Revolutionized
|Market Challenges||• Fees That Are Both High and Hidden
• For NFT, there is a lack of legal representation, compliance, and regulations
Ans: - Non-Fungible Token Market Size was valued at US$ 1.98 Bn in 2022.
Ans: - Fees That Are Both High and Hidden and for Nft, there is a lack of legal representation, compliance, and regulations.
Ans: - In 2022, North America led the market.
Ans: - The primary growth tactics of Non-Fungible Token market participants include merger and acquisition, business expansion, and product launch.
Ans: - Key Stakeholders Considered in the study are Raw material vendors, Regulatory authorities, including government agencies and NGOs, Commercial research, and development (R&D) institutions, Importers and exporters, etc.
Table of Contents
1.1 Market Definition
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia War
4.3 Impact of Ongoing Recession
4.3.2 Impact on major economies
18.104.22.168 United Kingdom
22.214.171.124 South Korea
126.96.36.199 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Non-Fungible Token Market Segmentation, by Type
8.1 Physical Asset
8.2 Digital Asset
9. Non-Fungible Token Market Segmentation, by Application
9.1.1 Video Clip
9.1.2 Audio Clip
9.2.1 Pixel Art
9.2.2 Fractal/Algorithmic Art
9.2.3 Computer Generated Painting
9.2.4 2D/3D Painting
9.2.5 2D/3D Computer Graphics
9.3.1Trading Card Game (TCG)
9.3.2 Video Game
9.3.3 Strategy Role Playing Game (RPG)
9.4.2 Domain Names
9.4.3 Assets Ownership
10. Non-Fungible Token Market Segmentation, by End-Use
11. Regional Analysis
11.2 North America
11.3.6 The Netherlands
11.3.7 Rest of Europe
11.4.2 South Korea
11.4.6 Rest of Asia-Pacific
11.5 The Middle East & Africa
11.5.3 South Africa
11.6 Latin America
11.6.3 Rest of Latin America
12. Company Profiles
12.1 YellowHeart, LLC.
12.1.2 Products/ Services Offered
12.1.3 SWOT Analysis
12.1.4 The SNS view
12.2 Cloudflare, Inc.
12.3 PLBY Group, Inc.
12.4 Dolphin Entertainment, Inc.
12.6 Ozone Networks, Inc.
12.7 Takung Art Co., Ltd.
12.8 Dapper Labs, Inc.
12.9 Gemini Trust Company, LLC.
12.10 Onchain Labs, Inc.
13. Competitive Landscape
13.1 Competitive Benchmarking
13.2 Market Share Analysis
13.3 Recent Developments
An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of good and accurate research report and selecting the best methodology to compete the research is the toughest part. Since the research reports we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach at a stage wherein we can provide our clients best and accurate investment to output ratio.
Each report that we prepare takes a timeframe of 350-400 business hours for production. Starting from the selection of titles through a couple of in-depth brain storming session to the final QC process before uploading our titles on our website we dedicate around 350 working hours. The titles are selected based on their current market cap and the foreseen CAGR and growth.
The 5 steps process:
Step 1: Secondary Research:
Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.
Step 2: Primary Research
When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data. This type of research is focused on gaining content specific facts that can be sued to solve specific problems. Since the collected data is fresh and first hand therefore it makes the study more accurate and genuine.
We at SNS Insider have divided Primary Research into 2 parts.
Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to the accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply side of the industry to make sure we land at an accurate judgement and analysis of the market.
This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.
Part 2: In this part of primary research the data collected via secondary research and the part 1 of the primary research is validated with the interviews from individual consultants and subject matter experts.
Consultants are those set of people who have at least 12 years of experience and expertise within the industry whereas Subject Matter Experts are those with at least 15 years of experience behind their back within the same space. The data with the help of two main processes i.e., FGDs (Focused Group Discussions) and IDs (Individual Discussions). This gives us a 3rd party nonbiased primary view of the market scenario making it a more dependable one while collation of the data pointers.
Step 3: Data Bank Validation
Once all the information is collected via primary and secondary sources, we run that information for data validation. At our intelligence centre our research heads track a lot of information related to the market which includes the quarterly reports, the daily stock prices, and other relevant information. Our data bank server gets updated every fortnight and that is how the information which we collected using our primary and secondary information is revalidated in real time.
Step 4: QA/QC Process
After all the data collection and validation our team does a final level of quality check and quality assurance to get rid of any unwanted or undesired mistakes. This might include but not limited to getting rid of the any typos, duplication of numbers or missing of any important information. The people involved in this process include technical content writers, research heads and graphics people. Once this process is completed the title gets uploader on our platform for our clients to read it.
Step 5: Final QC/QA Process:
This is the last process and comes when the client has ordered the study. In this process a final QA/QC is done before the study is emailed to the client. Since we believe in giving our clients a good experience of our research studies, therefore, to make sure that we do not lack at our end in any way humanly possible we do a final round of quality check and then dispatch the study to the client.
The Retail Cloud Market size was valued at USD 34.57 Bn in 2022 and is expected to reach USD 148.37 Bn by 2030, and grow at a CAGR of 19.97% over the forecast period 2023-2030.
The Enterprise Metadata Management (EMM) Market size was valued at USD 7.47 Bn in 2022 and is expected to reach USD 42.60 Bn by 2030, and grow at a CAGR of 24.31% over the forecast period 2023-2030.
The Cloud Disaster Recovery Market size was valued at USD 7.53 Bn in 2022 and is expected to reach USD 42.68 Bn by 2030, and grow at a CAGR of 24.2% over the forecast period 2023-2030.
The Cloud System Management market size was valued at USD 15.30 Bn in 2022 and is expected to reach USD 90.61 Bn by 2030, and grow at a CAGR of 24.9% over the forecast period 2023-2030.
The Private Cloud Services Market size was valued at USD 80.28 Bn in 2022 and is expected to reach USD 612.24 Bn by 2030, and grow at a CAGR of 28.91% over the forecast period 2023-2030.
Hi! Click one of our member below to chat on Phone