Non-Fungible Tokens Market - Comprehensive Insights by Demand Status, Industry Share, Opportunities Forecast to 2028

Non-fungible tokens (NFTs) are cryptographic assets on a blockchain with unique identification codes and metadata that distinguish them from each other. The NFTs are witnessing a rise in demand owing to the increasing adoption of the online currency, which provides more transparency and uniqueness to the NFTs and increases the market for digital art. Furthermore, the world is witnessing the online gaming revolution which is also an important factor in the growth of the non-fungible token market.

The non-fungible token market is expected to grow at a steady rate of around 35% owing to the rising usage of cryptocurrency. Major companies in the market that offer non-fungible tokens are YellowHeart LLC., Cloudflare Inc., PLBY Group Inc., Dolphin Entertainment Inc., Funko, Ozone Networks Inc.

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According to UnivDatos Market Insights (UMI)’ research report “Global Non-Fungible Tokens Market”, the market is expected to witness robust growth during the forecast period (2022-2028). This is mainly due to the increasing number of digital arts and rising number of gaming platforms.

Based on the type, the market has been categorized into a physical asset and a digital asset. Among them, digital asset is expected to have significant growth in the market. The artists can earn profits by selling their art and are not required to invest in promotions. Furthermore, the development of the metaverse and the increasing trading on them is also an important factor that drives the segmental growth in the NFT market.

Based on the application, the market has been categorized into collectibles, art, gaming, utilities, sports, and others. Among them, the collectibles segment is expected to have significant growth in the market during the forecast period. This is mainly due to the ease of accessibility and independence in the handling of assets. Furthermore, it provides a platform where people can directly connect with people related to the asset which also catalyzes segmental growth.

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Asia-pacific to witness extensive growth

For a better understanding of the market adoption of the non-fungible tokens industry, the market is analyzed based on its worldwide presence in the countries such as North America (United States and Canada), Europe (Germany, France, United Kingdom, and Rest of Europe), Asia-Pacific (China, Japan, India, and Rest of APAC), and Rest of World. The Asia Pacific constitutes a significant share of the market due to the presence of the large population of neophiles and gamers in the region. Moreover, a rising number of digital start-ups is also an important factor responsible for the growth of the NFT market in the region.

According to UnivDatos Market Insights (UMI)’, the key players with a considerable market share in the non-fungible token market include YellowHeart LLC., Cloudflare Inc., PLBY Group Inc., Dolphin Entertainment Inc., Funko, Ozone Networks Inc., Takung Art Co. Ltd., Dapper Labs Inc., Gemini Trust Company LLC., Onchain Labs Inc.

“Global Non-fungible tokens Market” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for the market players. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitors’ capabilities on different parameters. This will help companies in the formulation of go-to-market strategies and identifying the blue ocean for its offerings.

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Market Segmentation:

By Type (Physical Asset and Digital Asset)
By Application (Collectibles, Art, Gaming, and Others)
By Region (North America, Europe, Asia-Pacific, Rest of the World)
By Company (YellowHeart LLC., Cloudflare Inc., PLBY Group Inc., Dolphin Entertainment Inc., Funko, Ozone Networks Inc., Takung Art Co. Ltd., Dapper Labs Inc., Gemini Trust Company LLC., Onchain Labs Inc)

Key questions answered in the study:

What are the current and future trends in the global non-fungible tokens industry?
How the industry has been evolving in terms of type and application?
How the competition has been shaping across the countries followed by their comparative factorial indexing?
What are the key growth drivers and challenges for the global non-fungible tokens industry?
What is the customer orientation, purchase behavior, and expectations from the global suppliers across various region and countries?

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