Non-Fungible Token Market

Non-Fungible Token Market 2022 Growth Opportunities, Top Players, Regions, Application, and Forecast to 2030

Non-Fungible Token Market is valued at USD 55.46 billion in 2022 and is projected to reach a value of USD 125.07 billion in 2030 expanding at a CAGR of 10.7% over the forecast duration of 2022-2030.

Non-fungible tokens (NFTs) are cryptographic assets on a blockchain that can be distinguished from one another by their distinctive identifying codes and metadata.

NFTs are blockchain-based tokens that are kept on specialised marketplaces and can be used to represent digital assets. Because NFTs use smart contract technology, they may be configured so that the original artists can receive a cut of all future sales. One of the most prominent public accomplishments of the blockchain technology can be considered to be the current growth of the non-fungible token (NFTs) industry. Blockchain technology makes heavy use of non-fungible tokens (NFTs) to represent unique and non-transferable assets. Blockchains produce NFTs when they append earlier records with cryptographic hash records, which are characters that uniquely identify a group of data. This results in a chain of recognisable data blocks. This cryptographic exchange makes authentication possible.

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Global Non-fungible token market- Key Trends

Rise in awareness and demand for digital artwork.

There are a number of factors that have increased the market growth. One of the major factor that has boosted the market growth is the rising awareness and demand for digital artwork. Also, the increase in demand for decentralised market places have also increased the market growth.

Concerns regarding scams and frauds as well as lack of standardization

On the flip side, concerns regarding scams and frauds as well as lack of standardization are expected to hamper the growth of the market during the forecast year. This is because NFTs are mostly unregulated and anyone can get the access to create as well as sell an NFT without a certainty of its actual worth.

 

Global Non-fungible token market- Segmental analysis

Based on type

  • Physical asset
  • Digital asset

Based on application

  • Collectibles
  • Art
  • Gaming
  • Utilities
  • Metaverse
  • Sports
  • Others

Based on market type

  • Primary market
  • Secondary market

Based on end-user

  • Personal
  • Commercial

Commercial segment is projected to have the largest share in the market. This is because the rise in demand for NFTs for business usage is projected to drive revenue growth of the commercial segment over the forecast year.

Table of Contents

  1. Market Introduction and Market Overview
  2. Market – Executive Summary
  3. Market Trends, Outlook, and Factors Analysis
  4. Market: Estimates & Historic Trend Analysis (2018 to 2021)
  5. Market Estimates & Forecast Trend Analysis, by Deployment
  6. Market Estimates & Forecast Trend Analysis, by Component
  7. Market Estimates & Forecast Trend Analysis, by Content Type
  8. Market Estimates & Forecast Trend Analysis, by End Use
  9. Market Analysis and Forecast, by Region
  10. North America Non-Fungible Token Market: Estimates & Forecast Trend Analysis
  11. Europe Non-Fungible Token Market: Estimates & Forecast Trend Analysis
  12. Asia Pacific Non-Fungible Token Market: Estimates & Forecast Trend Analysis
  13. Middle East & Africa Non-Fungible Token Market: Estimates & Forecast Trend Analysis
  14. Latin America Non-Fungible Token Market: Estimates & Forecast Trend Analysis
  15. Competitive Landscape
  16. Company Profiles
  17. Assumptions and Research Methodology
  18. Conclusions and Recommendations

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