Increasing Influence of Celebrities, Revolutionizing the Gaming Industry and Continuing Rise in Demand for Digital Artworks

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Global market for non-fungible tokens

Global market for non-fungible tokens

DUBLIN, June 14, 2022 (GLOBE NEWSWIRE) — The Global Non-Fungible Tokens Market by Offering (Business Strategy Formulation, NFT Creation & Management, NFT Platform – Marketplace), End Users (Media & Entertainment, Gaming), Region (Americas, Europe, MEA, APAC) – Forecast to 2027” was added to the report ResearchAndMarkets.com Offer.

The size of the global NFT market is expected to grow from USD 3.0 billion in 2022 to USD 13.6 billion in 2027 at a compound annual growth rate (CAGR) of 35.0% from 2022 to 2027 Key factors fueling the momentum of NFT growth include increasing celebrity influence on NFT adoption, game industry revolution, and slow but steady increase in demand for digital artworks.

NFT marketplaces are projected to grow at a higher CAGR during the forecast period

Non-curated platforms offer free access to creators, unlike curated platforms which have a strict creator selection policy. On NFT platforms like SuperRare and Nifty Gateway, developers have to apply with strict selection criteria and a long wait for the experts’ decision.

Because of this, uncurated platforms have been widely accepted by creators to sell their digital assets. Various organizations are entering the NFT space to expand their growth. For example, Coinbase Global Inc, a US crypto exchange platform, recently launched its NFT marketplace. Developments like these have contributed to the growth of the NFT market.

In the regional segment, America will have a higher market share during the forecast period

America is expected to be the largest contributor to the global NFT market in terms of market size. The US companies invest in NFTs although they do not have strict laws, accounting rules and disclosure requirements. KPMG Canada has purchased a digital artwork from NFT “World of Women” after the company treasury made its first investment in cryptocurrency.

The story goes on

One American company, OpenSea, does not charge a fee for minting NFTs, unlike other platforms. The platform charges a payment on the final sale price, which is currently 2.5%. Given the tremendous success of the OpenSea platform in 2021, the business model seems viable and is an excellent option for young NFT producers to get started.

Organizations are at the forefront with many developments and partnerships to explore the trends and uses of NFTs and bring them to people’s attention to help them monetize their work.

competitive landscape

Large companies such as OpenSea, Larva Labs, Cloudflare and Dapper Labs are headquartered in North America. Investments and similar creations motivate the artists to be part of this booming NFT world, which can be a major factor in NFT market growth.

Major vendors offering the NFT market globally 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 Insights

• Increased celebrity influence for NFT adoption and rise of digital artworks to fuel NFT market growth

• Nft Platform marketplace segment will hold the largest market size during the forecast period

• Media and entertainment segment will hold the largest market size during the forecast period

• The Americas segment will hold the largest market size during the forecast period

• Asia Pacific is emerging as the best market for investment over the next five years

market dynamics

driver

• Increasing celebrity influence to fuel NFT adoption momentum

• Revolutionize the gaming industry

• Slow but steady increase in demand for digital artworks

limitations

occasions

• Increasing Use Cases of NFT in Supply Chain Management, Retail and Fashion

• Efforts by industry giants to make Metaverse a reality

• Personalization by NFT

challenges

value chain

technology analysis

patent analysis
Trends and disruptions impacting customers

Porter’s Five Forces Analysis

Tariff and regulatory landscape

• Regulators, government agencies and other organizations

• General Data Protection Regulation

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

• Health Insurance Portability and Accountability Act

use cases

• Use cases: identification, certification and documentation

• Use cases: real estate

• Use cases: event ticketing

Important conferences and events in 2022-2023
Table 8 Unfungible Tokens Market: List of Conferences and Events

market trends

• metaverse

• Play to make money (P2E)

company profiles

key figures

• cloud flare

• trust twins

• Open sea

• Dapper Labs

• Semidot Infotech

• The sandbox

other players

• Axe Infinity

• Rarely

• art blocks

• Foundation, endowment

• Very rare

• coin base

• Larva Laboratories

• appdupe

• crypto kitten

• That rare

• yellowheart

• Onchain Labs

• solanart

• gala games

For more information about this report, visit https://www.researchandmarkets.com/r/g5eb93

Appendix

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