Dublin, May 27, 2022 (GLOBE NEWSWIRE) -- The "Non-fungible Token Market Size, Share & Trends Analysis Report by Type (Physical Asset, Digital Asset), by Application (Collectibles, Art, Gaming), by End Use, by Region, and Segment Forecasts, 2022-2030" report has been added to ResearchAndMarkets.com's offering.
The global non-fungible token market size is expected to reach USD 211.72 billion by 2030, growing at a CAGR of 33.9% from 2022 to 2030.
The growing demand for digital art worldwide is one of the major factors driving the NFT (non-fungible token) market growth. The growing use of cryptocurrency globally is also anticipated to drive the growth of the market. This is because cryptocurrency is used by people to purchase digital assets.
The funding raised by NFT companies is also one of the major factors favoring the market growth. For instance, in March 2022, Magic Eden, an NFT marketplace, raised USD 27 million in a Series A round. The round was led by Paradigm, including grants from Solana Ventures and Sequoia. The company will use the funding for expanding its services and products.
The COVID-19 pandemic is expected to impact the market positively over the forecast period. The restrictions imposed during the pandemic confined people to homes and limited their sources of income. As a result, NFT-based gaming platforms such as Axie Game have gained increased popularity as they help people earn income amid the COVID-19 pandemic.
Non-fungible Token Market Report Highlights
- In terms of type, the digital asset segment dominated the market in 2021. The demand for art NFTs is growing as they enable artists to track all work transactions. This tracking of transactions helps artists avail perpetual royalty payback benefits on every transaction of their digital art.
- In terms of application, the collectibles segment dominated the market in 2021. The growth of the segment can be attributed to the increasing demand for collectibles across arts, sports, and games.
- In terms of end use, the commercial segment is expected to experience the fastest growth over the forecast period. The demand for NFTs is growing among businesses to enable improved transactions across a range of application areas.
- The growing use of cryptocurrency across North American countries such as the U.S. and Canada is expected to create new opportunities for market growth across the region.
Key Topics Covered:
Chapter 1 Methodology and Scope
Chapter 2 Executive Summary
2.1 Non-Fungible Token (NFT) Market-Industry Snapshot & Key Buying Criteria, 2018-2030
2.2 Global Non-Fungible Token (NFT) Market, 2018-2030
2.2.3 Global Non-Fungible Token (NFT) Market, by application, 2018-2030
2.2.4 Global Non-Fungible Token (NFT) Market, by end use, 2018-2030
Chapter 3 Non-Fungible Token (NFT) Industry Outlook
3.1 Market Segmentation and Scope
3.2 Market Size and Growth Prospects
3.3 Non-Fungible Token (NFT) Market-Value Chain Analysis
3.4 Non-Fungible Token (NFT) Market-Market Dynamics
3.4.1 Market driver analysis
22.214.171.124 Increasing demand for digital artworks
126.96.36.199 Increasing demand for a decentralized Marketplace
3.4.2 Market challenge analysis
188.8.131.52 Concerns regarding fraud and scams
3.5 Penetration and Growth Prospect Mapping
3.6 Non-Fungible Token (NFT) Market-Porter's Five Forces Analysis
3.7 Non-Fungible Token (NFT) Market-PESTEL Analysis
Chapter 4 Investment Landscape Analysis
4.1 Key Investor Dashboard
4.2 Investment Raised by NFT Companies
4.3 Investment Strategies by Companies
4.4 Investors Vision & Goal Analysis
Chapter 5 FinTech Industry Highlights
5.1 FinTech Ecosystem Overview
5.2 FinTech Services Overview
5.3 Total FinTech Investment, 2018-2021 (USD Billion)
5.4 FinTech Regulatory Outlook
5.5 FinTech Company Analysis-GVR Dashboard (Top 50 companies)
Chapter 6 Non-Fungible Token (NFT) Type Outlook
6.1 Non-Fungible Token (NFT) Market Share by Type, 2021
6.2 Physical Asset
6.3 Digital Asset
Chapter 7 Non-Fungible Token (NFT) Application Outlook
7.1 Non-Fungible Token (NFT) Market Share by Application, 2021
Chapter 8 Non-Fungible Token (NFT) End-Use Outlook
8.1 Non-Fungible Token (NFT) Market Share by End-Use, 2021
Chapter 9 Non-Fungible Token (NFT) Regional Outlook
9.1 Non-Fungible Token (NFT) Market Share by Region, 2021
Chapter 10 Competitive Analysis
10.1 Recent Developments & Impact Analysis, by Key Market Participants
10.2 Company Categorization
10.3 Vendor Landscape
10.4 Company Analysis Tools
Chapter 11 Competitive Landscape
- Cloudflare, Inc.
- Plby Group, Inc.
- Dolphin Entertainment, Inc.
- Funko Inc.
- Opensea (Ozone Networks, Inc.)
- Takung Art Co. Ltd.
- Dapper Labs, Inc.
- Nifty Gateway (Gemini Trust Company, LLC)
- Makersplace (Onchain Labs, Inc.)
For more information about this report visit https://www.researchandmarkets.com/r/5ddugj
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