DUBLIN–(BUSINESS WIRE)–The “Non-fungible Token Market Research Report by Type, Offering, Application, End-Use, Region – Global Forecast to 2027 – Cumulative Impact of COVID-19” report has been added to ResearchAndMarkets.com’s offering.
The Global Non-fungible Token Market size was estimated at USD 3,184.78 million in 2021, USD 3,835.76 million in 2022, and is projected to grow at a CAGR of 20.69% to reach USD 9,845.00 million by 2027.
The report categorizes the Non-fungible Token to forecast the revenues and analyze the trends in each of the following sub-markets:
- Based on Type, the market was studied across Digital Asset and Physical Asset.
- Based on Offering, the market was studied across Business Strategy Formulation, NFT Creation & Management, and NFT Platform.
- Based on Application, the market was studied across Art, Collectibles, Gaming, Metaverse, Sport, and Utilities.
- Based on End-Use, the market was studied across Gaming and Media & Entertainment.
- Based on Region, the market was studied across Americas, Asia-Pacific, and Europe, Middle East & Africa.
Market Dynamics
Drivers
- Increasing demand for decentralized marketplaces
- Rising application of NFT in art and digital creatives and gaming
- Increasing investments for NFT startups
Restraints
- Concerns regarding fraud and scams and lack of standardization
Opportunities
- Future of NFTs in web 3.0 and the metaverse and convergence of NFTs and artificial intelligence
- Potential in the field of personal genomics, marketing, and restaurants
Challenges
- Lack of awareness regarding NFTs in developing economies
Competitive Strategic Window:
The Competitive Strategic Window analyses the competitive landscape in terms of markets, applications, and geographies to help the vendor define an alignment or fit between their capabilities and opportunities for future growth prospects. It describes the optimal or favorable fit for the vendors to adopt successive merger and acquisition strategies, geography expansion, research & development, and new product introduction strategies to execute further business expansion and growth during a forecast period.
FPNV Positioning Matrix:
The FPNV Positioning Matrix evaluates and categorizes the vendors in the Non-fungible Token Market based on Business Strategy and Product Satisfaction (Value for Money, Ease of Use, Product Features, and Customer Support) that aids businesses in better decision making and understanding the competitive landscape.
Market Share Analysis:
The Market Share Analysis offers the analysis of vendors considering their contribution to the overall market. It provides the idea of its revenue generation into the overall market compared to other vendors in the space. It provides insights into how vendors are performing in terms of revenue generation and customer base compared to others. Knowing market share offers an idea of the size and competitiveness of the vendors for the base year. It reveals the market characteristics in terms of accumulation, fragmentation, dominance, and amalgamation traits.
Competitive Scenario:
The Competitive Scenario provides an outlook analysis of the various business growth strategies adopted by the vendors. The news covered in this section deliver valuable thoughts at the different stage while keeping up-to-date with the business and engage stakeholders in the economic debate. The competitive scenario represents press releases or news of the companies categorized into Merger & Acquisition, Agreement, Collaboration, & Partnership, New Product Launch & Enhancement, Investment & Funding, and Award, Recognition, & Expansion. All the news collected help vendor to understand the gaps in the marketplace and competitor’s strength and weakness thereby, providing insights to enhance product and service.
The report answers questions such as:
- What is the market size and forecast of the Global Non-fungible Token Market?
- What are the inhibiting factors and impact of COVID-19 shaping the Global Non-fungible Token Market during the forecast period?
- Which are the products/segments/applications/areas to invest in over the forecast period in the Global Non-fungible Token Market?
- What is the competitive strategic window for opportunities in the Global Non-fungible Token Market?
- What are the technology trends and regulatory frameworks in the Global Non-fungible Token Market?
- What is the market share of the leading vendors in the Global Non-fungible Token Market?
- What modes and strategic moves are considered suitable for entering the Global Non-fungible Token Market?
Companies Mentioned
- Animoca Brands
- AppDupe
- Art Blocks, Inc.
- Asynchronous Art Inc
- Binance Services Holdings Ltd.
- Blockchain App Factory
- Cinedigm Corp.
- Cloudflare, Inc.
- Dapper Labs, Inc.
- Funko Inc.
- Gala Games
- Gemini Trust Company, LLC
- Liquid Media Group Ltd.
- Onchain Labs, Inc.
- OpenSea
- Oriental Culture Holding Ltd.
- Ozone Networks, Inc.
- PLBY Group, Inc.
- Rarible, Inc.
- Semidot Infotech
- Solanart
- Sorare SAS
- SuperRare
- Takung Art Co. Ltd.
- WISeKey SA
- YellowHeart, LLC
- Yuga Labs
For more information about this report visit https://www.researchandmarkets.com/r/llxwav
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