PUBLISHER: SkyQuest Technology Consulting Pvt. Ltd. | PRODUCT CODE: 1120544
PUBLISHER: SkyQuest Technology Consulting Pvt. Ltd. | PRODUCT CODE: 1120544
Global Non-Fungible Tokens (NFTs) Market, By Type, By Application, By End-Use & By Region- Forecast and Analysis 2022-2028
The Global non-fungible token (NFT) market was valued at USD 15.70 billion in 2021, and the market size is estimated to reach USD 122.43 billion by 2028, at a CAGR of 34.10% over the forecast period 2022-2028.
Non-fungible tokens are blockchain-based cryptographic assets with unique identification codes and metadata that separate them from one another. They cannot be traded or swapped at parity with cryptocurrencies. This is in contrast to fungible tokens, such as cryptocurrencies, which are identical to one another and can thus be used as a medium for economic transactions.
Non-fungible tokens, or NFTs, were a hot digital topic in 2021, spanning trading cards, digital artwork, animal images, music, and online gaming. Beeple's crypto art "First 5000 Days" sold for USD 69 million in March 2021, making it the world's most expensive NFT. This transaction generated "NFT fever" and began trending on Google in Asia and the United States. Digital tokens, on the other hand, are not new. CryptoKitties, a project that incorporates randomly generated kitten photographs, is one of the oldest NFTs, with sales dating back to 2017.
Top-down and bottom-up approaches were used to estimate and validate the size of the Global Non-Fungible Tokens (NFTs) market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined by using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.
Segments covered in this report:
The Global Non-Fungible Tokens (NFTs) market is segmented by type, by application and by end-use. Based on type, the market is categorized into Physical Asset, Digital Asset. Based on application, the market is categorized into Collectibles, Art, Gaming, Utilities, Metaverse, Sport, Others. Based on end-use, the market is categorized into Personal, Commercial. By region, the global Non-Fungible Tokens (NFTs) market is categorized into North America, Europe, Asia-Pacific, South America, and Middle East & Africa.
Driver
The global non-fungible token (NFT) industry will be driven by rising demand for digital artworks: Through social media and other digital platforms, NFT has garnered enormous appeal in digital creative applications all around the world. Furthermore, NFT makes the art world accessible to customers via a digital platform, removing the necessity for a physical visit to a gallery. The tokens can be used to directly sell artworks through virtual markets. As a result, the purchasing cycle is shortened.
Driver
NFT transactions are associated with significant and hidden gas fees, which the majority of first-time users are either unaware of or uninformed of. Many NFTs are based on the Ethereum blockchain, and smart contracts are written utilizing token standards such as ERC-721, ERC-20, ERC-1155, and others. For example, the Ethereum blockchain employs the proof of work mechanism to determine its value, resulting in hefty gas fees that stymie the non-fungible token (NFT) market.
Market Trends
Investors are using their NFTs and NFT collections as collateral to secure loans for new potential investments and emergency situations. In 2021, numerous DeFi (decentralized finance) platforms were built to ease the use of NFTs as collateral for loans. For example, Arcade is a DeFi platform that provides loans secured by NFTs. When both the lender and the borrower agree on the terms, the monies are placed in an escrow account managed by an Arcade smart contract. Until the loan is paid in full or defaulted, the NFT(s) remain locked and irrevocable.
Table of Contents
Executive Summary
Market overview
- Exhibit: Executive Summary - Chart on Market Overview
- Exhibit: Executive Summary - Data Table on Market Overview
- Exhibit: Executive Summary - Chart on Global Non-Fungible Tokens (NFTs) Market Characteristics
- Exhibit: Executive Summary - Chart on Market by Geography
- Exhibit: Executive Summary - Chart on Market Segmentation
- Exhibit: Executive Summary - Chart on Incremental Growth
- Exhibit: Executive Summary - Data Table on Incremental Growth
- Exhibit: Executive Summary - Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy-scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Non-Fungible Tokens (NFTs) Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Global Non-Fungible Tokens (NFTs) Market by Type
- Market segments
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Data table on Market share 2021-2027 (%)
- Physical Asset, Digital Asset
- Market Estimates & Forecast, 2020-2027
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Market Estimates & Forecast, 2020-2027
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Market Estimates & Forecast, 2020-2027
Global Non-Fungible Tokens (NFTs) Market by Application
- Market segments
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Data table on Market share 2021-2027 (%)
- Collectibles, Art, Gaming, Utilities, Metaverse, Sport, Others
- Market Estimates & Forecast, 2020-2027
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Market Estimates & Forecast, 2020-2027
Global Non-Fungible Tokens (NFTs) Market by End-Use
- Market segments
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Data table on Market share 2021-2027 (%)
- Personal, Commercial
- Market Estimates & Forecast, 2020-2027
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Market Estimates & Forecast, 2020-2027
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
