NEW YORK, June 7, 2022 /PRNewswire/ — The Global Non-Fungible Token (NFT) Market size is expected to grow by USD 147.24 billion from 2021 to 2026 at a CAGR of 35.27% as per the latest market report by Technavio. 43% of the market’s growth will originate from APAC during the forecast period. Singapore, China, and The Philippines are the key markets for non-fungible tokens (NFT) in APAC.
However, market growth in this region will be slower than the growth of the market in other regions. The growing demand for digital assets in countries such as Singapore, China, South Korea, the Philippines, and Japan will facilitate the non-fungible token (NFT) market growth in APAC over the forecast period.
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Read the 120-page report with TOC on “Non-fungible Token (NFT) Market Analysis Report by Application (Collectibles, Sports, Arts, and Others) and Geography (APAC, South America, Middle East, and Africa, North America, and Europe), and the Segment Forecasts,2022-2026″. https://www.technavio.com/report/non-fungible-token-nft-market-industry-analysis
Non-fungible Token (NFT) Market: Vendor Analysis
The non-fungible token (NFT) market is fragmented and the vendors are deploying growth strategies such as mergers and acquisitions to compete in the market. The non-fungible token (NFT) market report offers information on several market vendors, including Asynchronous Art Inc., Binance Services Holdings Ltd., Dapper Labs Inc., Decentraland Foundation, Enjin Pte. Ltd., Foundation Labs Inc., FTX Trading Ltd., Funko Inc., Gala Games, Gemini Trust Co. LLC, Mintable. the app, Mobox Digital Co. Ltd., Onchain Labs Inc., OpenSea, Rarible Inc., Sorare SAS, SuperRare Labs Inc., Theta Labs Inc., Yellowheart LLC, and Yuga Labs LLC among others.
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Binance Services Holdings Ltd. – The company offers a wide range of non-fungible tokens such as Alien Worlds Binance Mission, Bored Pixel EN, Freaky Mandrill Ape, Legendary X Squid GAME, and The Virgin Mary. Edition 17.
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Non-fungible Token (NFT) Market : Drivers & Challenges
The key factor driving the global non-fungible token (NFT) market growth is the increasing demand for digital artworks. Globally, NFT has gained traction in digital art applications through the Internet, social media, and other digital mediums. An NFT links a digital artwork through a token. After that, the owner or the artist can set a suitable price for the NFT artworks. The key will then be passed to the end-user to certify proof of possession.
However, the key challenge to the global non-fungible token market growth is the uncertainty of the NFT market. The valuation of NFTs depends considerably on scarcity, uniqueness, and the perception of owners and buyers alongside the availability of distribution channels.
Therefore, for a new seller, it is extremely difficult to anticipate the identity of the next buyers of an NFT or the possible factors which can drive their purchase. The market is completely in the nascent stage, thus, it is difficult for new investors to predict some future trends in NFT pricing.
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Non-fungible Token (NFT) Market: Segmentation Analysis
Application Outlook (Revenue, USD bn, 2021-2026)
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Collectibles – size and forecast 2021-2026
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Sports – size and forecast 2021-2026
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Arts – size and forecast 2021-2026
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Others – size and forecast 2021-2026
Geography Outlook (Revenue, USD bn, 2021-2026)
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APAC – size and forecast 2021-2026
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South America – size and forecast 2021-2026
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Middle East and Africa – size and forecast 2021-2026
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North America – size and forecast 2021-2026
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Europe – size and forecast 2021-2026
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Related Reports:
Non-fungible Token (NFT) Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 35.27% |
Market growth 2022-2026 |
$ 147.24 billion |
Market structure |
Fragmented |
YoY growth (%) |
30.72 |
Regional analysis |
APAC, South America, Middle East and Africa, North America, and Europe |
Performing market contribution |
APAC at 43% |
Key consumer countries |
United Arab Emirates, Singapore, China, The Philippines, and Venezuela |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
Asynchronous Art Inc., Binance Services Holdings Ltd., Dapper Labs Inc., Decentraland Foundation, Enjin Pte. Ltd., Foundation Labs Inc., FTX Trading Ltd., Funko Inc., Gala Games, Gemini Trust Co. LLC, Mintable.app, Mobox Digital Co. Ltd., Onchain Labs Inc., OpenSea, Rarible Inc., Sorare SAS, SuperRare Labs Inc., Theta Labs Inc., Yellowheart LLC, and Yuga Labs LLC |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Table of Content
1. Executive Summary
1.1 Market Overview
Exhibit 01: Executive Summary – Chart on Market Overview
Exhibit 02: Executive Summary – Data Table on Market Overview
Exhibit 03: Executive Summary – Chart on Global Market Characteristics
Exhibit 04: Executive Summary – Chart on Market by Geography
Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
Exhibit 06: Executive Summary – Chart on Incremental Growth
Exhibit 07: Executive Summary – Data Table on Incremental Growth
Exhibit 08: Executive Summary – Chart on Vendor Market Positioning
2. Market Landscape
2.1 Market ecosystem
Exhibit 09: Parent market
Exhibit 10: Market characteristics
3. Market Sizing
3.1 Market definition
Exhibit 11: Offerings of vendors included in the market definition
3.2 Market segment analysis
Exhibit 12: Market segments
3.3 Market size 2021
3.4 Market outlook: Forecast for 2021 – 2026
Exhibit 13: Chart on Global – Market size and forecast 2021-2026 ($ billion)
Exhibit 14: Data Table on Global – Market size and forecast 2021-2026 ($ billion)
Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)
4. Five Forces Analysis
4.1 Five Forces Summary
Exhibit 17: Five forces analysis – Comparison between 2021 and 2026
4.2 Bargaining power of buyers
Exhibit 18: Bargaining power of buyers – Impact of key factors in 2021 and 2026
4.3 Bargaining power of suppliers
Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
4.4 Threat of new entrants
Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
4.5 Threat of substitutes
Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
4.6 Threat of rivalry
Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
4.7 Market condition
Exhibit 23: Chart on Market condition – Five forces 2021 and 2026
5 Market Segmentation by Application
5.1 Market segments
Exhibit 24: Chart on Application – Market share 2021-2026 (%)
Exhibit 25: Data Table on Application – Market share 2021-2026 (%)
5.2 Comparison by Application
Exhibit 26: Chart on Comparison by Application
Exhibit 27: Data Table on Comparison by Application
5.3 Collectibles – Market size and forecast 2021-2026
Exhibit 28: Chart on Collectibles – Market size and forecast 2021-2026 ($ billion)
Exhibit 29: Data Table on Collectibles – Market size and forecast 2021-2026 ($ billion)
Exhibit 30: Chart on Collectibles – Year-over-year growth 2021-2026 (%)
Exhibit 31: Data Table on Collectibles – Year-over-year growth 2021-2026 (%)
5.4 Sports – Market size and forecast 2021-2026
Exhibit 32: Chart on Sports – Market size and forecast 2021-2026 ($ billion)
Exhibit 33: Data Table on Sports – Market size and forecast 2021-2026 ($ billion)
Exhibit 34: Chart on Sports – Year-over-year growth 2021-2026 (%)
Exhibit 35: Data Table on Sports – Year-over-year growth 2021-2026 (%)
5.5 Arts – Market size and forecast 2021-2026
Exhibit 36: Chart on Arts – Market size and forecast 2021-2026 ($ billion)
Exhibit 37: Data Table on Arts – Market size and forecast 2021-2026 ($ billion)
Exhibit 38: Chart on Arts – Year-over-year growth 2021-2026 (%)
Exhibit 39: Data Table on Arts – Year-over-year growth 2021-2026 (%)
5.6 Others – Market size and forecast 2021-2026
Exhibit 40: Chart on Others – Market size and forecast 2021-2026 ($ billion)
Exhibit 41: Data Table on Others – Market size and forecast 2021-2026 ($ billion)
Exhibit 42: Chart on Others – Year-over-year growth 2021-2026 (%)
Exhibit 43: Data Table on Others – Year-over-year growth 2021-2026 (%)
5.7 Market opportunity by Application
Exhibit 44: Market opportunity by Application ($ billion)
6. Customer landscape
6.1 Customer landscape overview
Technavio’s customer landscape matrix comparing…
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