Top Non-Fungible Tokens Market Players, Size, Share, Growth, Outlook, Industry Analysis, Trends and Forecasts
Rising popularity of metaverse and rising demand for decentralized marketplaces are key factors driving the market revenue growth
VANCOUVER, BC, CANADA, Feb. 6, 2022 /EINPresswire.com/ —
The global non-fungible token (NFT) market size reached USD 340 million in 2020 and is expected to register a revenue CAGR of 39.6% 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.
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The research study presents an industry-wide summary of the Non-Fungible Token Market comprising drivers, restraints, technological advancements, product developments, limitations, growth strategies, growth prospects, etc., among others. The Global Non-Fungible Tokens research report is an investigative study of the market that offers key statistical data regarding market size, market share, revenue growth, and CAGR over the forecast period 2021-2028 .
Some highlights of the report
Revenue from the physical assets segment is expected to grow at a very stable CAGR during the forecast period. The tokenization of physical assets is not as advanced as the tokenization of digital assets. However, more and more initiatives are exploring the tokenization of real estate, unique fashion products and the like.
The gaming segment is expected to register a very stable revenue growth rate during the forecast period due to the rapid growth of the gaming industry coupled with the increasing use of NFT to earn money while gaming .
The North America market is expected to register a significantly robust revenue CAGR compared to other regional markets owing to the strong presence of major market players such as Cloudflare, Inc., PLBY Group, Inc., Dolphin Entertainment, Inc. and Funko Inc., among others in countries of the region.
The research report offers in-depth insights into company profiles along with their production values, production capacity, product portfolio, strategic plans such as mergers and acquisitions, joint ventures, collaborations, product launches and brand promotions, government and corporate agreements, among others. 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.
Key Players Featured in the Report:
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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The report analyzes the market based on different categories such as product types, end-user applications and major geographical regions. It offers key insights into the factors that are expected to influence the growth of the segments and sub-segments.
Emergen Research has segmented the global non-fungible token market based on type, application, end-use, and region:
Type Outlook (Revenue, USD Million; 2018-2030)
Application Outlook (Revenue, USD Million; 2018-2030)
computer generated painting
2D/3D computer graphics
Trading Card Game (TCG)
Strategy role-playing game (RPG)
Ownership of assets
End-Use Outlook (Revenue, USD Million; 2018-2030)
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Major regions include North America, Latin America, Europe, Asia-Pacific, Middle East and Africa. The report studies the market in these regions on the basis of demand and trends, consumer behavior and preferences, government initiatives and regulatory framework, economic growth, technological developments, supply and price. demand, production and consumption patterns, imports/exports and the presence of players in each region.
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About Emergen Research
Emergen Research is a market research and consulting firm that provides syndicated research reports, custom research reports, and consulting services. Our solutions are uniquely focused on your goal of locating, targeting and analyzing changes in consumer behavior across demographics, across industries, and helping customers make smarter business decisions. We offer market intelligence research ensuring relevant and factual research across multiple sectors including health, touchpoints, chemicals, types and energy.