Global Non-Fungible Tokens (NFT) Market Report 2022: Analysis of Business Strategy Formulation, NFT Creation, and Management, & NFT Platforms – ResearchAndMarkets.com

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Dublin-(Business wire)-“Provided Global Non-Fungible Token Market (Business Strategy Development, NFT Creation and Management, NFT Platform-Marketplace), End Users (Media and Entertainment, Games), Regions (USA, Europe, MEA, APAC)- Forecast up to 2027 “report added ResearchAndMarkets.com Recruitment.

The global NFT market size is expected to grow from US $ 3 billion in 2022 to US $ 13.6 billion by 2027, with a compound annual growth rate (CAGR) of 35.0% from 2022 to 2027. The influence of celebrities on the adoption of NFTs, revolutionizing the gaming industry, has led to a slow but continuous increase in demand for digital artwork.

NFT marketplace growing at a high CAGR during the forecast period

Uncurated platforms have free access to creators, unlike curated platforms, which have a strict policy on creator selection. NFT platforms such as SuperRare and Nifty Gateway require authors to apply forms with rigorous selection criteria and long periods of waiting for expert decisions.

As a result, uncurated platforms are widely accepted by creators for selling digital assets. Various organizations are stepping into NFT spaces to expand their growth. For example, Coinbase Global Inc, a cryptocurrency exchange platform in the United States, has just recently launched the NFT Marketplace. Such developments are contributing to the growth of the NFT market.

In the regional segment, the Americas has a high market share during the forecast period

The Americas are expected to be the largest contributors to the size of the global NFT market. US companies are investing in NFTs despite the lack of strict laws, accounting rules, and disclosure requirements. KPMG Canada purchased digital art from the “World of Women” NFT after the company’s finance department made its first investment in cryptocurrencies.

OpenSea, an American company, unlike other platforms, does not charge a fee for creating NFTs. The platform currently charges payment at a final selling price of 2.5%. The OpenSea platform was a huge success in 2021, and the business model seems feasible and is a great option for young NFT producers to get started.

The organization is proactive in many developments and partnerships to investigate trends and uses of NFTs, make them aware, and help monetize their work.

Competitive landscape

Leading companies such as OpenSea, Larva Labs, Cloudflare and Dapper Labs are headquartered in North America. These similar investments and creativity motivate artists to become part of this booming world of NFTs, which can be a major factor in the growth of the NFT market.

The major vendors offering the NFT market worldwide are Cloudflare (US), Gemini Trust (US), OpenSea (US), Semidot Infotech (US), Dapper Labs (Canada), The Sandbox (China), Axie. Infinity (Vietnam), Rarible. (USA), Art Blocks (USA), Foundation (USA), Superrare (USA), Mintbase (Portugal), Larva Labs (USA), Appdupe (India), CryptoKitties (Canada), Sorare (France), Yellow Heart (USA) )), Onchain Labs (China), Solanart (France), Gala Games (USA)

Premium Insight

  • Increasing celebrity influence on the adoption and rise of Nfts in digital artwork to drive the growth of the Nft market

  • Nft Platform-The market segment that holds the largest market size during the forecast period

  • Media and entertainment segments with the largest market size during the forecast period

  • The US segment that holds the largest market size during the forecast period

  • Asia Pacific emerges as the best investment market in the next five years

Market dynamics

driver

  • Increasing celebrity influence to stimulate NFT adoption momentum

  • Revolutionary game industry

  • Slow but continuous increasing demand for digital artwork

Restraint

  • Copyright protection issues

chance

  • Increasing NFT use cases in supply chain management, retail and fashion

  • Efforts of industry giants to realize the Metaverse

  • NFT personalization

Task

  • Highly hidden charges

  • Lack of legal representatives, lack of compliance, and NFT regulations

Value chain

  • Ecosystem: Non-fungible tokens

Technology analysis

  • Blockchain

  • Cryptocurrency

Patent analysis

Trends and confusion that affect customers

Porter’s Five Forces Analysis

Tariff and regulatory status

  • Regulatory agencies, government agencies, and other organizations

  • General Data Protection Regulation

  • Payment Card Industry-Data Security Standard (Pci-Dss)

  • Health Insurance Interoperability and Accountability Act

Use Case

  • Use cases: identification, authentication, and documentation

  • Use case: real estate

  • Use case: Event ticket

Major conferences and events from 2022 to 2023

Table 8 Non-Fungible Token Market: List of Meetings and Events

Market trend

  • Metaverse

  • Play to Earn (P2E)

Company Profile

Key player

  • Cloudflare

  • Gemini Trust

  • High seas

  • Dapper Labs

  • Semi-dot Infotech

  • sandbox

Other players

  • Axie Infinity

  • rare

  • Art block

  • Foundation

  • Super rare

  • Mintbase

  • Larva Labs

  • Appdupe

  • Cryptokitties

  • Solare

  • Yellow heart

  • On-chain lab

  • Solanato

  • Gala game

For more information on this report, please visit https://www.researchandmarkets.com/r/vinqwk.

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