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Non Fungible Token Nft Market

Non Fungible Token Nft Market

Non-Fungible Token (NFT) Market - Global Size, Share, Trend Analysis, Opportunity and Forecast Report, 2018–2028, Segmented By Category (Business Strategy Formulation, NFT Creation and Management, NFT Platform – Marketplace); By Application (Entertainment & Media, Banking, Utilities, Healthcare, Gaming, Sports, Others); By End-Use (Commercial, Personal); By Region (North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), Middle-East and Africa (MEA))

  • Published Date: September 2022
  • Report ID: BWC22350
  • Available Format: PDF
  • Page: 149

Report Overview

Global Non-Fungible Token (NFT) Market is expected grow in tandem with an increasing demand for digital artworks for NFTs on the internet, social media, and other digital channels. A rapidly increasing adoption of cryptocurrencies could further boost the market growth.

Global Non-Fungible Token (NFT) Market – Industry Trends & Forecast Report 2028

The global demand for non-fungible commemoratives was valued at USD 250 million in 2020, and is anticipated to grow at a significant rate between 2022 and 2028. Non-fungible Commemoratives are seamlessly interchangeable and collectively unique digital means maintained on a variety of blockchains, including Ethereum, Matic, Flow, and Wax. The NFT request is substantially separated into two orders, first-hand request/ trade, resale/ secondary request. The first and original trade of an asset determines the primary request/ trade, while the selling of the item after the original primary request trade determines the secondary request/ trade. The digital art and sports divisions presently regard for the largest share of the primary request. As further digital artists come apprehensive of the non-fungible commemoratives and the conception of digital art power, they're dealing their work on multiple NFT platforms. As a result, the major request for digital art is anticipated to expand significantly over the cast period.

Global Non-Fungible Token Market – Overview

A token connects a digital artwork to an NFT. The proprietor or artist can also establish a reasonable price for the NFT artworks. The key will later be handed on to the end- stoner as evidence of power. The primary chain to the global non-fungible token request's growth, still, is the NFT request's query. Failure, oneness, and the perspective of possessors and purchasers, as well as the vacuity of distribution channels, all play a part in NFT valuation. As a result, it is incredibly insolvable for a new dealer to predict the identity of an NFT coming buyer or the circumstances that might impact their decision. Because the request is still in its immaturity, it's delicate for neophyte investors to make prognostications. By its drugs, NFT is regarded as the future of power. The power status of all forms of property, from event tickets to houses, will ultimately be tokenized in this way. The desire to enjoy digitally developed material is anticipated to propel the request forward. Digital art is the primary machine of the NFT request's expansion. NFTs help digital artists in carrying the power of their work. They can earn further plutocrats from NFTs since they can earn a kingliness every time the NFT is traded after the original trade. As addiction engagement grows, the request for NFT cairn will grow significantly.

During the cast time, the Metaverse, virtual real estate, and trading will grow significantly. Gaming diligences are developing complex games like Strategy part Playing Games, in which the player can produce a game character and also gain power of that character using NFT, which can also be vended on colorful commerce (Rarible, OpenSea, etc.). "The number of implicit use cases for NFT continues to grow with time, and ever more unique cases do on a regular basis," Sébastien Borget, co-founder and Susurrus of The Sandbox, said in an interview.

Global Non-Fungible Tokens Market Industry Trends and Forecast Report

The increasing acception of cryptocurrencies around the world is expected to propel the global NFT market forward, as consumers use cryptocurrency to buy digital means. The entire worldwide capitalization of cryptocurrency is USD 1.76 trillion as of February 2022, which is equal to the world's eighth largest frugality. One of the primary reasons promoting assiduity expansion is the plutocracy raised by NFT enterprises. For illustration, Magic Eden, an NFT business, raised USD 27 million in a Series A investment in March 2022. Paradigm led the investment, which also included subventions from Solana gambles and Sequoia Capital. The finances will be used to expand the company's services and products. Because anyone can make NFTs, their failure doesn't insure their worth. However, losses might mount if the buzz fades. Fraud is a possibility in a request where multitudinous people use aliases.

Impact Covid-19 on Global Non-Fungible Token (NFT) Market

Over the projected period, the COVID- 19 pandemic is anticipated to have a favorable impact on the request. People were confined to their houses and their sources of income due to the restrictions executed during the pandemic. As a result, NFT-grounded gaming platforms such as Axie Game have grown in popularity as a way for people to earn some money while dealing with the COVID- 19 pandemic.

Global Non-Fungible Token (NFT) Market – By Type

Gaming & Digital Art NFTs are expected to account for the highest number of NFT transactions. In gaming, in-app purchases or virtual currency purchased in free-to-play games could not be withdrawn, re-used, resold, or utilized in other ways across games or platforms until recently. They were, in other words, perishable consumable products. With NFTs, anything purchased in the games becomes the owner's property. The user's name will be used to register the asset. Each object is uniquely identified, has a provably limited number of copies, and can be shared among users without the developer’s permission. Better yet, it can be moved outside of the game, sold on the market, or even used in another game, and providing extra utility and gameplay across various games. New inventions are being made as digital art allows more people to become interested in and active in the art world. The artists in this space will continue to experiment and produce work that pushes the current art form's boundaries. However, there is a disadvantage to typical digital art creation in that products can be reproduced and replicated indefinitely at no expense. To address this flaw, digital art is now stored on the blockchain and converted into a NFT, making it impossible to duplicate. This has provided digital artists with a possibility to profit from their creative work. As a result, it is expected that digital art will hold a significant share in the global NFT market.

Competitive Landscape

North America is the home to major companies such as OpenSea, Larva Labs, Cloudflare, and Dapper Labs. Artists are being motivated to be a part of this burgeoning NFT world by investments and works like these, which could be a big element in the NFT request's growth. Othe key players in the global NFT market include YellowHeart, LLC, Cryptokitties, PLBY Group, Inc., Dolphin Entertainment, Inc, Funko, Ozone Networks, Inc., Solanart, Takung Art Co., Ltd, Semidot Infotech, Gemini Trust Company, LLC, and Onchain Labs, Inc.

 

Recent Developments

 

  • TapinatorInc., a patron and publisher of order-leading mobile games, revealed in March 2021 that it was developing NFT500, a subscription casting service and collection platform centered on blue chip NFTs. The term "casting" refers to presenting digital art on a physical display in the form of NFTs.

 

Scope of the Report

Attributes  Details
Years Considered Historical Data – 2018–2021 
Base Year – 2021
Estimated Year – 2022
Forecast – 2022–2028
Facts Covered Revenues in USD billion
Market Coverage North America, Europe, Asia-Pacific, Latin America, Middle East and Africa
Product Service/Segmentation By Category, By Application, By End Use, By Region
Key Players YellowHeart, LLC, Cloudflare, Inc, Cryptokitties, PLBY Group, Inc., Dolphin Entertainment, Inc, Funko, Ozone Networks, Inc., Solanart, Takung Art Co., Ltd, Dapper Labs, Inc., Semidot Infotech, Gemini Trust Company, LLC., Onchain Labs, Inc, Other Players 

 

By Category

  • Business Strategy Formulation
  • NFT Creation and Management
  • NFT Platform – Marketplace

By Application

  • Entertainment & Media
  • Banking
  • Utilities
  • Healthcare
  • Gaming
  • Sports
  • Others

By End Use

  • Commercial
  • Personal

By Region

  • North America
  • Europe
  • Asia-Pacific (APAC)
  • Latin America (LATAM)
  • Middle East and Africa (MEA)

 

  1. Research Framework
    1. Research Objective
    2. Product Overview
    3. Market Segmentation
  2. Research Methodology
    1. Qualitative Research
      1. Primary & Secondary Research
    2. Quantitative Research
    3. Market Breakdown & Data Triangulation
      1. Secondary Research
      2. Primary Research
    4. Breakdown of Primary Research Respondents, By Country
    5. Assumption & Limitation
  3. Executive Summary
  4. Global Non-Fungible Token (NFT) Market Insights
    1. Industry Value Chain Analysis
    2. DROC Analysis
      1. Growth Drivers
      2. Restraints
      3. Opportunities
      4. Challenges
    3. Recent Developments/Technological Advancements
    4. Regulatory Framework
    5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
  5. Global Non-Fungible Token (NFT) Market Overview
    1. Market Size & Forecast, 2018–2028
      1. By Value (USD Million)
    2. Market Share & Forecast
      1. By Category
        1. Business Strategy Formulation
        2. NFT Creation and Management
        3. NFT Platform - Marketplace
      2. By Application
        1. Entertainment & Media
        2. Banking
        3. Utilities
        4. Healthcare
        5. Gaming
        6. Sports
        7. Others
      3. By End Use
        1. Commercial
        2. Personal
      4. By Region
        1. North America
        2. Europe
        3. Asia-Pacific (APAC)
        4. Latin America (LATAM)
        5. Middle East and Africa (MEA)
  6. North America Non-Fungible Token (NFT) Market
    1. Market Size & Forecast, 2018–2028
      1. By Value (USD Million)
    2. Market Share & Forecast
      1. By Category
      2. By Application
      3. By End Use
      4. By Country
        1. U.S.
        2. Canada
  7. Europe Non-Fungible Token (NFT) Market
    1. Market Size & Forecast, 2018–2028
      1. By Value (USD Million)
    2. Market Share & Forecast
      1. By Category
      2. By Application
      3. By End Use
      4. By Country
        1. U.K.
        2. Germany
        3. France
        4. Spain
        5. Italy
        6. The Netherlands
        7. Rest of Europe
  8. APAC Non-Fungible Token (NFT) Market
    1. Market Size & Forecast, 2018–2028
      1. By Value (USD Million)
    2. Market Share & Forecast
      1. By Category
      2. By Application
      3. By End Use
      4. By Country
        1. China
        2. Japan
        3. India
        4. South Korea
        5. Australia
        6. Rest of APAC
  9. LATAM Non-Fungible Token (NFT) Market
    1. Market Size & Forecast, 2018–2028
      1. By Value (USD Million)
    2. Market Share & Forecast
      1. By Category
      2. By Application
      3. By End Use
      4. By Country
        1. Mexico
        2. Brazil
        3. Rest of LATAM
  10. MEA Non-Fungible Token (NFT) Market
    1. Market Size & Forecast, 2018–2028
      1. By Value (USD Million)
    2. Market Share & Forecast
      1. By Category
      2. By Application
      3. By End Use
      4. By Country
        1. Saudi Arabia
        2. UAE
        3. South Africa
        4. Rest of MEA
  11. Competitive Landscape
    1. List of Non-Fungible Token Producers and Their Offerings
    2. Market Share Analysis, by Companies, 2021
    3. Competitive Benchmarking, By Operating Parameters
    4. Key Strategic Developments
  12. Impact of COVID on Global Non-Fungible Token (NFT) Market
    1. Future Impact
    2. Key Developments during COVID-19
    3. Impact on Market
      1. Different Scenario
      2. Impact on Companies
      3. Impact on the Africa Market
  13. Opportunity and Assessment, by Country (Key Focus Area)
  14. Company Profile (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, SWOT Analysis, and Strategic Outlook) *
    1. YellowHeart, LLC
    2. Cloudflare, Inc.
    3. Cryptokitties
    4. PLBY Group, Inc.
    5. Dolphin Entertainment, Inc.
    6. Funko
    7. Ozone Networks, Inc.
    8. Solanart
    9. Takung Art Co., Ltd.
    10. Dapper Labs, Inc.
    11. Semidot Infotech
    12. Gemini Trust Company, LLC.
    13. Onchain Labs, Inc
    14. Other Players
  15. *Financial details of unlisted companies will be available as per data availability in final deliverable

    **The segmentation and the companies are subject to modifications based on in-depth secondary for the final deliverable

    Key Strategic Recommendations

 

 

 

List of Figures

 

Figure 1        Global Non-Fungible Token Segmentation

Figure 2        Global Non-Fungible Token (NFT) Market Value Chain Analysis

Figure 3        Company Market Share Analysis, 2021

Figure 4        Global Non-Fungible Token (NFT) Market Size, By Value (USD Million), 2018–2028

Figure 5        Global Non-Fungible Token (NFT) Market Share, By Category, By Value, 2018–2028

Figure 6        Global Non-Fungible Token (NFT) Market Share, By Application, By Value, 2018–2028

Figure 7        Global Non-Fungible Token (NFT) Market Share, By End Use, By Value, 2018–2028

Figure 8 Global Non-Fungible Token (NFT) Market Share, By Region, By Value, 2018–2028

Figure 9 North America Non-Fungible Token (NFT) Market Size, By Value (USD Million), 2018–2028

Figure 10 North America Non-Fungible Token (NFT) Market Share, By Category, By Value, 2018–2028

Figure 11 North America Non-Fungible Token (NFT) Market Share, By Application, By Value, 2018–2028

Figure 12 North America Non-Fungible Token (NFT) Market Share, By End Use, By Value, 2018–2028

Figure 13 North America Non-Fungible Token (NFT) Market Share, By Country, By Value, 2018–2028

Figure 14 Europe Non-Fungible Token (NFT) Market Size, By Value (USD Million), 2018–2028

Figure 15 Europe Non-Fungible Token (NFT) Market Share, By Category, By Value, 2018–2028

Figure 16 Europe Non-Fungible Token (NFT) Market Share, By Application, By Value, 2018–2028

Figure 17 Europe Non-Fungible Token (NFT) Market Share, By End Use, By Value, 2018–2028

Figure 18 Europe Non-Fungible Token (NFT) Market Share, By Country, By Value, 2018–2028

Figure 19 Asia-Pacific Non-Fungible Token (NFT) Market Size, By Value (USD Million), 2018–2028

Figure 20 Asia-Pacific Non-Fungible Token (NFT) Market Share, By Category, By Value, 2018–2028

Figure 21 Asia-Pacific Non-Fungible Token (NFT) Market Share, By Application, By Value, 2018–2028

Figure 22 Asia-Pacific Non-Fungible Token (NFT) Market Share, By End Use, By Value, 2018–2028

Figure 23 Asia-Pacific Non-Fungible Token (NFT) Market Share, By Country, By Value, 2018–2028

Figure 24 Latin America Non-Fungible Token (NFT) Market Size, By Value (USD Million), 2018–2028

Figure 25 Latin America Non-Fungible Token (NFT) Market Share, By Category, By Value, 2018–2028

Figure 26 Latin America Non-Fungible Token (NFT) Market Share, By Application, By Value, 2018–2028

Figure 27 Latin America Non-Fungible Token (NFT) Market Share, By End Use, By Value, 2018–2028

Figure 28 Latin America Non-Fungible Token (NFT) Market Share, By Country, By Value, 2018–2028

Figure 29 Middle East and Africa Non-Fungible Token (NFT) Market Size, By Value (USD Million), 2018–2028

Figure 30 Middle East and Africa Non-Fungible Token (NFT) Market Share, By Category, By Value, 2018–2028

Figure 31 Middle East and Africa Non-Fungible Token (NFT) Market Share, By Application, By Value, 2018–2028

Figure 32 Middle East and Africa Non-Fungible Token (NFT) Market Share, By End Use, By Value, 2018–2028

Figure 33 Middle East and Africa Non-Fungible Token (NFT) Market Share, By Country, By Value, 2018–2028

 

List of Tables

 

Table 1 Global Non-Fungible Token (NFT) Market Size, By Category, By Value, 2018–2028

Table 2 Global Non-Fungible Token (NFT) Market Size, By Application, By Value, 2018–2028

Table 3 Global Non-Fungible Token (NFT) Market Size, By End User, By Value, 2018–2028

Table 4 Global Non-Fungible Token (NFT) Market Size, By Region, By Value, 2018–2028

Table 5 North America Non-Fungible Token (NFT) Market Size, By Category, By Value, 2018–2028

Table 6 North America Non-Fungible Token (NFT) Market Size, By Application, By Value, 2018–2028

Table 7 North America Non-Fungible Token (NFT) Market Size, By End User, By Value, 2018–2028

Table 8 North America Non-Fungible Token (NFT) Market Size, By Country, By Value, 2018–2028

Table 9 Europe Non-Fungible Token (NFT) Market Size, By Category, By Value, 2018–2028

Table 10 Europe Non-Fungible Token (NFT) Market Size, By Application, By Value, 2018–2028

Table 11 Europe Non-Fungible Token (NFT) Market Size, By End User, By Value, 2018–2028

Table 12 Europe Non-Fungible Token (NFT) Market Size, By Country, By Value, 2018–2028

Table 13 Asia-Pacific Non-Fungible Token (NFT) Market Size, By Category, By Value, 2018–2028

Table 14 Asia-Pacific Non-Fungible Token (NFT) Market Size, By Application, By Value, 2018–2028

Table 15 Asia-Pacific Non-Fungible Token (NFT) Market Size, By End User, By Value, 2018–2028

Table 16 Asia-Pacific Non-Fungible Token (NFT) Market Size, By Country, By Value, 2018–2028

Table 17 Latin America Non-Fungible Token (NFT) Market Size, By Category, By Value, 2018–2028

Table 18 Latin America Non-Fungible Token (NFT) Market Size, By Application, By Value, 2018–2028

Table 19 Latin America Non-Fungible Token (NFT) Market Size, By End User, By Value, 2018–2028

Table 20 Latin America Non-Fungible Token (NFT) Market Size, By Country, By Value, 2018–2028

Table 21 Middle East and Africa Non-Fungible Token (NFT) Market Size, By Category, By Value, 2018–2028

Table 22 Middle East and Africa Non-Fungible Token (NFT) Market Size, By Application, By Value, 2018–2028

Table 23 Middle East and Africa Non-Fungible Token (NFT) Market Size, By End User, By Value, 2018–2028

Table 24 Middle East and Africa Non-Fungible Token (NFT) Market Size, By Country, By Value, 2018–2028

Table 25 YellowHeart, LLC Company Overview

Table 26 YellowHeart, LLC Financial Overview

Table 27 Cloudflare, Inc. Company Overview

Table 28 Cloudflare, Inc. Financial Overview

Table 29 Cryptokitties Company Overview

Table 30 Cryptokitties Financial Overview

Table 31 PLBY Group, Inc. Company Overview

Table 32 PLBY Group, Inc. Financial Overview

Table 33 Dolphin Entertainment, Inc. Company Overview

Table 34 Dolphin Entertainment, Inc. Financial Overview

Table 35 Funko Company Overview

Table 36 Funko Financial Overview

Table 37 Ozone Networks, Inc. Company Overview

Table 38 Ozone Networks, Inc. Financial Overview

Table 39 Solanart Company Overview

Table 40 Solanart Financial Overview

Table 41 Takung Art Co., Ltd. Company Overview

Table 42 Takung Art Co., Ltd. Financial Overview

Table 43 Dapper Labs, Inc. Company Overview

Table 44 Dapper Labs, Inc. Financial Overview

Table 45 Semidot Infotech Company Overview

Table 46 Semidot Infotech Financial Overview

Table 47 Gemini Trust Company, LLC. Company Overview

Table 48 Gemini Trust Company, LLC. Financial Overview

Table 49 Onchain Labs, Inc Company Overview

Table 50 Onchain Labs, Inc Financial Overview

Market Segmentation

By Category

  • Business Strategy Formulation
  • NFT Creation and Management
  • NFT Platform – Marketplace

By Application

  • Entertainment & Media
  • Banking
  • Utilities
  • Healthcare
  • Gaming
  • Sports
  • Others

By End Use

  • Commercial
  • Personal

By Region

  • North America
  • Europe
  • Asia-Pacific (APAC)
  • Latin America (LATAM)
  • Middle East and Africa (MEA)
No data available

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Frequently Asked Questions (FAQs):

Ans: Global Non-Fungible Token (NFT) Market size reached USD 4.36 billion in 2021.
Ans: The major factors driving the growth of the Global Non-Fungible Token (NFT) Market is an increase in the usage of cryptocurrencies to buy digital means.
Ans: The key players in the Global Non-Fungible Token (NFT) Market are YellowHeart, LLC, Cloudflare, Inc, Cryptokitties, PLBY Group, Inc., Dolphin Entertainment, Inc, Funko, Ozone Networks, Inc., Solanart, Takung Art Co., Ltd, Dapper Labs, Inc., Semidot Infotech, Gemini Trust Company, LLC., and Onchain Labs, Inc.