San Francisco, July 21, 2022 / PRNewswire /- Global non-fungible token market size is expected to total US $ 211.72 billion By 2030, it grew at a CAGR of 33.9% from 2022 to 2030, according to a new report from Grand View Research, Inc. The growing popularity of digital art around the world is an important factor driving market growth. As in other sectors, ongoing technological advances have prospered the world of art. These techniques are used to create or display art called digital art. This art has received tremendous attention in today’s fast world, which has a positive impact on the NFT market and is growing at a fast pace.
Key industry insights and findings from the report:
- In 2021, based on type, digital assets accounted for more than 71% of the total market revenue share. This growth is driven by the growing demand for NFTs for the safety and security of digital assets around the world.
- The physical assets segment has emerged as the second largest segment estimated to show favorable growth rates during the forecast period.
- The collectibles section accounted for more than 53% of the total market revenue share of the entire market in 2021.
- Based on the application, the sports segment is expected to increase market revenue during the forecast period. NFTs create opportunities for athletes to promote their names and interact with people.
- The personal segment dominated the non-fungible token (NFT) market in 2021, accounting for more than 61.0% of global revenue.
- Due to supply chain innovation and rising demand for NFTs for logistics, the commercial sector is expected to grow at a maximum CAGR during the forecast period.
- North America In 2021, it had the largest revenue share of 31% of the total market.
- Market Asia Pacific Cryptocurrency adoption is increasing across the region and is expected to show growth at the highest CAGR during the forecast period.
Read the full 150-page market research report for the latest industry insights. “Non-fungible token market size, type (physical assets, digital assets), applications (collections, art, games), end-use, region, and segment forecasts, 2022-2030
Growth and trends in the non-fungible token market
In addition, the market is thriving as there is a growing tendency to use cryptocurrencies around the world. Cryptocurrencies are becoming the world’s largest economy changing the face of world capitalization. Therefore, the major companies operating in the market are increasing their investment and financing in NFTs.
The outbreak of COVID-19 is in favor of the market. Due to strict blockade restrictions, the population has explored the digital world. In addition, it has affected the world’s economic system due to recessions and job outages in various areas. But thanks to digital platforms, people have found a way to make money online. Therefore, this has taken NFT-based platforms and apps to a new level and created opportunities for market expansion.
Non-fungible token market segmentation
Grand View Research has segmented the global non-fungible token market based on type, application, end-use, and region.
Type outlook (Revenue, US $ 1 billion, 2018-2030)
- Physical assets
- Digital assets
Application Outlook (Revenue, US $ 1 Billion, 2018-2030)
- Collected items
- Video clip
- Audio clip
- Pixel art
- Fractal / algorithmic art
- Computer-generated painting
- 2D / 3D painting
- 2D / 3D computer graphics
- Trading card game (TCG)
- Video game
- Strategy role-playing game (RPG)
- Domain name
- Property ownership
End-use outlook (Revenue, US $ 1 billion, 2018-2030)
Regional outlook (Revenue, US $ 1 billion, 2018-2030)
- North America
- Asia Pacific
- latin america
- middle east & Africa
List of major players in the non-fungible token (NFT) market
- YellowHeart, LLC.
- Cloudflare, Inc.
- PLBY Group, Inc.
- Dolphin Entertainment Co., Ltd.
- Ozone Networks, Inc.
- Takun Art Co., Ltd.
- Dapper Labs, Inc.
- Gemini Trust Company, LLC.
- Onchain Labs, Inc.
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About Grand View Research
GrandView Research, a US-based market research and consulting firm, offers syndicated and customized research reporting and consulting services.Register with California The head office is San FranciscoThe company is made up of more than 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports provide a detailed analysis of 46 industries in 25 countries around the world. Grand View Research helps Fortune 500 companies and renowned academic institutions understand the global and regional business environment and assess future opportunities with the help of an interactive market intelligence platform.
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