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Global Non-fungible Token Market Report 2022: Compound Annual Growth Rate of 40% Forecast Between 2021-2026 - ResearchAndMarkets.com

·4 min read

DUBLIN, March 08, 2022--(BUSINESS WIRE)--The "Non-fungible Token Global Market Report 2022: By Type, Market Type, Cryptocurrency Usage, and Covering" report has been added to ResearchAndMarkets.com's offering.

The global non-fungible token market is expected to grow from $14.02 billion in 2021 to $21.33 billion in 2022 at a compound annual growth rate (CAGR) of 52.1%. The market is expected to reach $82.43 billion in 2026 at a CAGR of 40.2%.

The main types of non-fungible tokens are art, collectibles, gaming, metaverses, sport, utilities, and others. Paintings, sculptures, and other pictures of things that are made for people to enjoy or think deeply about are referred to as art. Artists value non-fungible tokens because they ensure the validity and uniqueness of the blockchain representation of their work. The different market types include primary market and secondary market and are used in various cryptocurrencies such as ETH, DAI, MANA, SAND, REVV, MATIC, CUBE, FOAM, others.

The development of new platforms for a non-fungible token is shaping the non-fungible token (NFT) market. Major companies operating in the non-fungible token sector are concentrating on creating new platforms for non-fungible tokens to provide customizable exposure through a unique premium casting program. For instance, in March 2021, Tapinator, Inc., a USA-based mobile game and app developer announced that the company is developing NFT500, a premium casting service and collection platform based on blue-chip NFTs. The word casting refers to the process of viewing digital art on a physical display in the form of NFTs. The service is set to debut this summer, with a demo companion mobile version to follow later this year.

The increasing demand for digital artwork is expected to propel the growth of the non-fungible tokens (NFT) market in the coming years. The word digital art refers to art that is created or displayed using digital technology. Artists value non-fungible tokens because they ensure the validity and uniqueness of the blockchain representation of their work.

The countries covered in the non-fungible token (NFT) market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography. It places the market within the context of the wider non-fungible token market, and compares it with other markets.

  • The market characteristics section of the report defines and explains the market

  • The market size section gives the market size ($b) covering both the historic growth of the market, the influence of the COVID-19 virus and forecasting its growth

  • Market segmentations break down market into sub markets

  • The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets

  • Competitive landscape gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified

  • The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers

  • The non-fungible token market section of the report gives context. It compares the non-fungible token market with other segments of the non-fungible token market by size and growth, historic and forecast. It analyses GDP proportion, expenditure per capita, non-fungible token indicators comparison

Scope

Markets Covered:

1) By Type: Art; Collectibles; Gaming; Metaverses; Sports; Utilities; Others

2) By Market Type: Primary; Secondary

3) By Cryptocurrency Usage: ETH; DAI; MANA; SAND; REVV; MATIC; CUBE; FOAM; Others

Companies Mentioned: SemiDot Infotech; Blockchain App Factory; Cinedigm; Funko; Takung Art

Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA

Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa

Time Series: Five years historic and ten years forecast

Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita

Data Segmentations: country and regional historic and forecast data, market share of competitors, market segments

Companies Mentioned

  • SemiDot Infotech

  • Blockchain App Factory

  • Cinedigm

  • Funko

  • Takung Art

  • WISeKey

  • Oriental Culture Holding

  • Liquid Media

For more information about this report visit https://www.researchandmarkets.com/r/4tv5z2

About ResearchAndMarkets.com

ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220308005698/en/

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