Global Non-fungible Token (NFT) market size reached USD 50.10 Billion in 2021 and is expected to register a revenue CAGR of 10.7%, during the forecast period, according to latest analysis by Emergen Research. Rapid traction of metaverse and rising demand for decentralized marketplaces are some key factors driving global non-fungible token market revenue growth. Rising use of NFT for domain name ownership is also expected to boost revenue growth of the market to a significant extent.
Owners of blockchain domains can use private keys to manage respective domains. The standard Domain Name Service (DNS) is controlled by the Internet Corporation for Assigned Names and Numbers (ICANN), and there is very minimal supervision of such domains. Censorship and security issues are raised as a result of this. Blockchain domain names are permanently recorded in a public registry and it can be erased or changed by a third party, which helps to mitigate such concerns. Blockchain domain NFTs allow for quick trading and customizable domain names.
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The report is a comprehensive research study of the global Non fungible Token Market inclusive of the latest trends, growth factors, developments, opportunities, and competitive landscape. The research study includes an in-depth analysis of the market using advanced research methodologies such as SWOT analysis and Porter’s Five Forces analysis. The report is formulated with data gathered from primary and secondary research examined and validated by industry experts. The report provides an overview of the market leaders, segmentation by type, application, and region, and technological advancements.
Key players involved in the market such as YellowHeart, Cloudflare, Inc., PLBY Group, Inc., Dolphin Entertainment, Inc., Funko Inc., OpenSea (Ozone Networks, Inc.), Takung Art Co., Ltd., Dapper Labs, Inc., Nifty Gateway (Gemini Trust Company, LLC), and MakersPlace (Onchain Labs, Inc.)
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Detailed Regional Analysis covers:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia-Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Emergen Research has segmented the global Non-Fungible Token (NFT) market on the basis of type, application, end-use, and region:
Type Outlook (Revenue, USD Billion; 2019–2030)
Physical Asset
Digital Asset
Application Outlook (Revenue, USD Billion; 2019–2030)
Collectibles
Video Clip
Audio Clip
Gamification
Others
Art
Pixel Art
Fractal/Algorithmic Art
Computer Generated Painting
2D/3D Painting
2D/3D Computer Graphics
GIFs
Others
Gaming
Trading Card Game (TCG)
Video Game
Strategy Role Playing Game (RPG)
Others
Utilities
Tickets
Domain Names
Assets Ownership
Metaverse
Sport
Others
End-Use Outlook (Revenue, USD Billion; 2019–2030)
Personal
Commercial
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The report addresses the following key points:
The report estimates the expected market size from 2022-2030
The report provides a forecast of market drivers, restraints, and future opportunities for the Non fungible Token market
The report further analyses the changing market dynamics
Regional analysis and segmentation of the market with analysis of the regions and segments expected to dominate the market growth
Extensive competitive landscape mapping with profiles of the key competitors
In-depth analysis of business strategies and collaborations such as mergers and acquisitions adopted by the key companies
Revenue forecast, country scope, application insights, and product insights
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