July 07, 2022 12:00 ET | Source: FACT.MR FACT.MR
Rockville, Maryland, UNITED STATES
United States, Rockville MD, July 07, 2022 (GLOBE NEWSWIRE) — According to a new published report by Fact.MR, a market research and competitive intelligence provider, the global non-fungible token (NFT) market stands at US$ 34 billion in 2022 and is predicted to expand at an astounding CAGR of 25% during the forecast years (2022-2032). The market is set to surge owing to the changing dynamics in digital content creation and the asset ownership space.
NFTs are crypto tokens created using hash algorithms and tied to a digital asset such as a video clip, JPEG, or PNG, as well as physical assets such as real estate, all while utilising Blockchain technology. NFT presents great investment opportunity and has numerous use cases in the economic sector.
ICT infrastructure developments are one of the primary drivers for the growth of the non-fungible token market. Due to the availability of digital platforms to mint, sell, price, and bid for NFTs, they are both, cost- and time-effective; however, there are certain revenue generation complexities.
For more insights into the Market, Get A Sample of this Report!
Digital transactions are on the rise and this is predicted to have a beneficial impact on the non-fungible token business space. Moreover, digital assets are defined as anything that is uniquely identifiable and is stored digitally that can be used to realize an underlying value. As a result of NFTs, new modalities of monetisation and ownership are becoming a reality, and it is reasonable to predict that their widespread adoption will have an important impact on a wide range of businesses.
Key Takeaways from Market Study
For Comprehensive Insights Ask An Analyst Here
Development of Market
The NFT space has expanded significantly, particularly during the pandemic period, from raising digital cats to programming asset ownership. Collaboration is the key to successfully creating, minting, and selling NFTs.
Individual producers and collectors may be able to handle this more simply, while corporations may find it tough, necessitating the use of professionals. Owing to this, market participants are developing long-term constructive collaborations with enterprises, businesses, and governments to aid easing the NFT business, which will lead to consistency in their revenue generation.
Prominent non-fungible token market players are Art Blocks, Axie Infinity, Cloudflare Inc., CryptoKitties, Dapper Labs Inc., Dolphin Entertainment Inc., Foundation, Funko, Gemini Trust Company LLC., Onchain Labs Inc., OpenSea, Ozone Networks Inc., PLBY Group Inc., Rarible, Semidot Infotech, Takung Art Co. Ltd., The Sandbox, and YellowHeart LLC.
For instance :
Non-Fungible Token Industry Research by Category
Get Customization on this Report for Specific Research Solutions
More Valuable Insights Available
Fact.MR, in its new offering, presents an unbiased analysis of the global non-fungible token (NFT) market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.
The study reveals essential insights on the basis of asset type (physical assets, digital assets, metadata), category (artwork, collectibles, domain names, identity, memes, Metaverse, music and media, real-world assets, sports items, tickets, virtual items, others), and end use (personal, commercial), across major regions of the world (Americas, EMEA, Asia Pacific).
About the ICT Division at Fact.MR
Expert analysis, actionable insights, and strategic recommendations of the highly seasoned ICT solutions at Fact.MR helps clients from across the globe with their unique business intelligence needs. With a repertoire of over thousand reports and 1 million-plus data points, the team has analysed the prominent end users across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services.
Explore More Technology Industry Reports:
Contactless Biometrics Market – Contactless Biometrics Market By Component (Hardware, Software, Service), By Application (Face, Fingerprint, Iris, Voice), By End Use (Healthcare, Government, Defence & Security)- Global Market Insights 2022 to 2032
Data Protection Software Market – Data Protection Software Market Analysis by Solution Type (Data Backup & Recovery, Disaster Recovery, Data Security, Data Compliance), by Deployment Type (Cloud, On-Premises), by Enterprise Size, By End-Use Industry & Regional Forecast 2022-2032
Data Center Market – Data Center Market Analysis by Type (New Data Centers, Data Center Rebuild), by Consulting (Network Design, Security Consulting, Network Analysis, Benchmarking), by Integration (Project Management, Installation, Test & Debug), by Application & Regional Forecast to 2032
E-commerce Software and Platform Market – E-commerce Software and Platform Market Analysis by Deployment (SaaS, On-premise), by Business Model (B2B, B2C, Market Place), by End-use, by Region – Global Forecast 2022-2032
Airport Retailing Consumer Electronics Market – Airport Retailing Consumer Electronics Market Analysis by Category (Fashion & Accessories, Perfumes & Cosmetics, Liquor & Tobacco, Food & Beverages), by Airport Size (Small, Medium, Large) by Type (Direct Retailer, Department Stores, Specialty Retailers) & Regional Forecast to 2032
G Suite Technology Services Market – G Suite Technology Services Market Analysis by Service Type (Advisory Services, Migration Services, Integration Services, Design & Deployment), by Organization Size (Small & Medium Enterprises, Large Enterprises), by End-Use Industry & Regional Forecast 2022-2032
Identity Theft Protection Services Market – Identity Theft Protection Services Market Analysis by Type (Credit Card Fraud, Employment & Tax Related Fraud, Phone or Utility Fraud, Band Fraud), by End Use, by Region – Global Forecast 2022-2032
Smart Parking Solutions Market – Smart Parking Solutions Market Analysis By System Components & Services (Smart Parking Software, Smart Parking System Devices, Professional Services), By Solutions (Smart Parking Access Control, Reservation Management Solutions), By End Use – Global Insights 2022-2032
Computer Aided Dispatch (CAD) Market – Computer Aided Dispatch (CAD) Market Analysis by Component (Computer Aided Dispatch Solutions, Services), by Deployment (Cloud-based, On-premises), by Organization (Large Enterprises, SMEs), by Application Area, by Industry & Regional Forecast 2022-2032
MEMS Sensor Market – MEMS Sensor Market Analysis by Type (Mechanical, Optical, Chemical & Biological, Thermal MEMS Sensors), by Fabrication Material (Silicon, Polymer, Ceramic, Metal MEMS Sensors), by Application, by Region – Global Forecast 2022-2032
Market research and consulting agency with a difference! That’s why 80% of Fortune 1,000 companies trust us for making their most critical decisions. While our experienced consultants employ the latest technologies to extract hard-to-find insights, we believe our USP is the trust clients have on our expertise. Spanning a wide range – from automotive & industry 4.0 to healthcare & retail, our coverage is expansive, but we ensure even the most niche categories are analyzed. Our sales offices in United States and Dublin, Ireland. Headquarter based in Dubai, UAE. Reach out to us with your goals, and we’ll be an able research partner.
US Sales Office:
11140 Rockville Pike
Rockville, MD 20852
Tel: +1 (628) 251-1583