global non-fungible tokens (NFT) a reaches USD 50.10 billion in 2021 and is expected to register a revenue CAGR of 10.7% during the forecast period, according to the latest analysis from Emergen Research. The rapid traction of the metaverse and growing demand for decentralized marketplaces are some of the key factors driving the revenue growth of the global non-fungible tokens market. The growing use of NFT for domain name ownership is also expected to significantly boost market revenue growth. Blockchain domain owners can use private keys to manage the respective domains. The Domain Name Service (DNS) standard is controlled by the Internet Corporation for Assigned Names and Numbers (ICANN), and oversight of these domains is very minimal. Censorship and security issues are thus raised. Blockchain domain names are permanently registered in a public registry and can be deleted or altered by a third party, helping to alleviate these concerns. Blockchain domain NFTs enable fast trading and customizable domain names. The Ethereum Name Service (ENS) and Unstoppable Domains, which are decentralized solutions to conventional DNS, allow cryptographic addresses similar to an Instagram or Twitter handle, but each name must be distinct. While Instagram and Twitter users cannot sell their usernames, ENS and Unstoppable Domains allow users to buy and sell crypto addresses.
The report examines in detail the growth opportunities, challenges, market drivers and restraints, limitations, threats and requirements of the Non-fungible Tokens Market. The study further assesses the regional market as well as the international market to get an insight into the scope of the market. The report also offers estimates and forecasts on the market segment and sub-segments showing promising growth in the forecast timeline. The report also provides deeper insights into the technological advancements, industrial landscape, and emerging product and technological developments in the Non-Fungible Tokens market. It offers a fruitful insight into the business sphere to help companies capitalize on lucrative growth opportunities.
The report further offers comprehensive SWOT analysis and Porter’s Five Forces analysis to offer a better understanding of the competitive landscape of the industry. It also covers the strategies adopted by prominent players such as mergers and acquisitions, collaborations, joint ventures, product launches and brand promotions, among others. The report aims to provide readers with a comprehensive understanding of the relevant characteristics of the industry.
Key Players profiled in the report are:
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.)
Additionally, the report provides a comprehensive overview of the Non-Fungible Tokens market along with the product portfolio and market performance. The report offers key insights on market share, supply chain analysis, supply and demand relationship, import/export details, and product and consumption patterns. For better understanding, the report is further segmented into sections such as product types offered by the market, application spectrum, companies, and key geographical regions where the market has established its presence.
The analysis of the segments and their growth projection is done by an in-depth historical and current analysis of the market scenario. Additionally, the report provides details of the Non-Fungible Tokens market factors and characteristics that are expected to drive the growth of the industry in the coming years.
Emergen Research has segmented the global non-fungible token market based on type, application, end-use, and region:
Type Outlook (Revenue, USD Billion; 2019-2030)
- Physical Asset
Outlook Application (Revenue, USD Billion; 2019–2030) Objects of
- music video music video
- pixel art
- Computer Generated Painting Painting
- /3D 2D/3D computer graphics
- Trading Card Game (TCG)
- Video game
- Strategy Role Playing Game (RPG)
- Domain names
- Ownership of assets
End-Use Outlook (Revenue, USD Billion; 2019-2030)
Keys covered by the report:
What is the growth rate of the non-fungible tokens market? What is the predicted market valuation of the non-fungible token industry by 2028?
What are the key growth drivers and restraining factors of the Non-fungible Token market?
Who are the major players operating in the market? What are the main strategies adopted by these companies?
What are the key opportunities and growth prospects for the Non-fungible Token industry during the forecast period?
Which region is expected to show significant growth in the coming years?
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Non-Fungible Tokens Market Analysis by Industry Size, Qualitative Insights, Growth Opportunity, Regional Analysis 2021 to 2028 – Androidfun.com
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