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Non-fungible Token (NFT) Market by Application and Geography - Forecast and Analysis 2022-2026

  • Published: May 2022
  • Pages: 16
  • SKU: IRTNTR73238
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The non-fungible token (NFT) market share is expected to increase by USD 147.24 billion by 2026, and the market’s growth momentum will accelerate at a CAGR of 35.27%.

This non-fungible token (NFT) market research report extensively covers market segmentation by the following:

  • Application - Collectibles, sports, arts, and others 
  • Geography - APAC, South America, Middle East and Africa, North America, and Europe

The non-fungible token (NFT) market report also offers information on several market vendors, including Asynchronous Art Inc., Binance Services Holdings Ltd., Dapper Labs Inc., Decentraland Foundation, Enjin Pte. Ltd., Foundation Labs Inc., FTX Trading Ltd., Funko Inc., Gala Games, Gemini Trust Co. LLC, Mintable.app, Mobox Digital Co. Ltd., Onchain Labs Inc., OpenSea, Rarible Inc., Sorare SAS, SuperRare Labs Inc., Theta Labs Inc., Yellowheart LLC, and Yuga Labs LLC among others. Furthermore, Nft industry report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches.

What will the Non-fungible Token (NFT) Market Size be During the Forecast Period?

Download the Free Report Sample to Unlock the Non-fungible Token (NFT) Market Size for the Forecast Period and Other Important Statistics

 

Non-fungible Token (NFT) Market: Key Drivers, Trends, and Challenges

The increasing demand for digital artworks is notably driving the non-fungible token (NFT) market growth, although factors such as uncertainty of the NFT market may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the non-fungible token (NFT) industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Non-fungible Token (NFT) Market Driver

  • One of the key factors driving the global non-fungible token (NFT) market growth is the increasing demand for digital artworks.
  • Globally, NFT has gained traction in digital art applications through the Internet, social media, and other digital mediums.
  • An NFT links a digital artwork through a token. After that, the owner or the artist can set a suitable price for the NFT artworks. The key will then be passed to the end-user to certify proof of possession.
    • For instance, digital artists can sell one or more limited edition NFT offerings by issuing tokens. Artists can also create new forms of an NFT.
  • In addition, NFTs permit greater accessibility to the art world. Instead of visiting a gallery, buyers can instantly visit online portals for buying NFT artworks.
  • The tokens can be used to sell artworks directly through virtual platforms, reducing the turnaround time of purchase.
  • Therefore, such factors are driving the demand for the global NFT market.

Key Non-fungible Token (NFT) Market Trend

  • Growing number of big brands entering the market is one of the key NFT market trends that is expected to impact the industry positively in the forecast period.
  • Big brands such as Visa Inc. and Budweiser are showing more interest in buying NFTs rather than making their own NFTs.
    • For instance, in August 2021, Visa Inc. purchased a CryptoPunk NFT for around USD 165,000. Visa Inc. added this NFT to its collection of historic commerce artifacts.
  • With a growing number of e-commerce brands, consumers are shifting toward Web 3.0.
  • The digitally native brands such as eBay Inc. and Amazon are showing more interest in NFTs.
    • For instance, in May 2021, eBay Inc. announced that it would allow the purchase and sales of NFTs on its platform.
  • Such developments are expected to increase the number of transactions in the NFT market, thus fostering market growth in the coming years.

Key Non-fungible Token (NFT) Market Challenge

  • One of the key challenges to the global non-fungible token market growth is the uncertainty of the NFT market.
  • The valuation of NFTs depends considerably on scarcity, uniqueness, and the perception of owners and buyers alongside the availability of distribution channels. Therefore, for a new seller, it is extremely difficult to anticipate the identity of the next buyers of an NFT or the possible factors which can drive their purchase.
  • The market is completely in the nascent stage, thus, it is difficult for new investors to predict some future trends in NFT pricing.
  • A sudden fluctuation of NFT can lead to a huge loss for the owner. Even the owner of the NFT may not be able to sell the NFT collectible or artwork due to very low demand in the market.

This non-fungible token (NFT) market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global non-fungible token (NFT) market as a part of the global systems software market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the non-fungible token (NFT) market during the forecast period.

Who are the Major Non-fungible Token (NFT) Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • Asynchronous Art Inc.
  • Binance Services Holdings Ltd.
  • Dapper Labs Inc.
  • Decentraland Foundation
  • Enjin Pte. Ltd.
  • Foundation Labs Inc.
  • FTX Trading Ltd.
  • Funko Inc.
  • Gala Games
  • Gemini Trust Co. LLC
  • Mintable.app
  • Mobox Digital Co. Ltd.
  • Onchain Labs Inc.
  • OpenSea
  • Rarible Inc.
  • Sorare SAS
  • SuperRare Labs Inc.
  • Theta Labs Inc.
  • Yellowheart LLC
  • Yuga Labs LLC

 

This statistical study of the non-fungible token (NFT) market encompasses successful business strategies deployed by the key vendors. The non-fungible token (NFT) market is fragmented and the vendors are deploying growth strategies such as mergers and acquisitions to compete in the market.

Product Insights and News

  • Binance Services Holdings Ltd. - The company offers a wide range of non-fungible tokens such as Alien Worlds Binance Mission, Bored Pixel EN, Freaky Mandrill Ape, Legendary X Squid GAME, and The Virgin Mary. Edition 17.
  • Binance Services Holdings Ltd. - Under the unified segment, the company offers crypto exchange, charity, cards, labs, research, wallet, NFT, and finance services.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The non-fungible token (NFT) market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Non-fungible Token (NFT) Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the non-fungible token (NFT) market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Non-fungible Token (NFT) Market?

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43% of the market’s growth will originate from APAC during the forecast period. Singapore, China, and The Philippines are the key markets for non-fungible tokens (NFT) in APAC. However, market growth in this region will be slower than the growth of the market in other regions.

The growing demand for digital assets in countries such as Singapore, China, South Korea, the Philippines, and Japan will facilitate the non-fungible token (NFT) market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The outbreak of COVID-19 affected many countries in the region, such as China, India, South Korea, and Japan, in 2020. In March 2020, governments in this region imposed complete lockdowns to prevent the community spread of the disease. The pandemic negatively impacted the art and music industry. Therefore, people supported the artists in many ways, and this was reflected in the digital art market. The reason for the increase in online market sales is partly due to the reduced scope for visiting offline auction spaces. These factors positively impacted the regional market. During the forecast period, as the number of NFT marketplace increases, it is expected to create more opportunities for NFT trading, thus positively impacting the regional market growth.

What are the Revenue-generating Application Segments in the Non-fungible Token (NFT) Market?

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The non-fungible token (NFT) market share growth by the collectibles segment will be significant during the forecast period. The growth of the collectible segment is majorly driven by the growing demand for digital assets across the world. Some of the vendors offering NFT collectibles include Funko Inc., Foundation, and Makersplace. 

This report provides an accurate Nft market predictions of the contribution of all the segments to the growth of the non-fungible token (NFT) market size and actionable market insights on post COVID-19 impact on each segment.

 

Non-fungible Token (NFT) Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 35.27%

Market growth 2022-2026

$ 147.24 billion

Market structure

Fragmented

YoY growth (%)

30.72

Regional analysis

APAC, South America, Middle East and Africa, North America, and Europe

Performing market contribution

APAC at 43%

Key consumer countries

United Arab Emirates, Singapore, China, The Philippines, and Venezuela

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Asynchronous Art Inc., Binance Services Holdings Ltd., Dapper Labs Inc., Decentraland Foundation, Enjin Pte. Ltd., Foundation Labs Inc., FTX Trading Ltd., Funko Inc., Gala Games, Gemini Trust Co. LLC, Mintable.app, Mobox Digital Co. Ltd., Onchain Labs Inc., OpenSea, Rarible Inc., Sorare SAS, SuperRare Labs Inc., Theta Labs Inc., Yellowheart LLC, and Yuga Labs LLC

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

Customization purview

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What are the Key Data Covered in this Non-fungible Token (NFT) Market Report?

  • CAGR of the market during the forecast period 2022-2026
  • Detailed information on factors that will drive non-fungible token (NFT) market growth during the next five years
  • Precise estimation of the non-fungible token (NFT) market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the non-fungible token (NFT) industry across APAC, South America, Middle East and Africa, North America, and Europe
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of non-fungible token (NFT) market vendors

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1. Executive Summary                         

               1.1 Market Overview 

                              Exhibit 01:  Executive Summary – Chart on Market Overview

                              Exhibit 02:  Executive Summary – Data Table on Market Overview

                              Exhibit 03:  Executive Summary – Chart on Global Market Characteristics

                              Exhibit 04:  Executive Summary – Chart on Market by Geography

                              Exhibit 05:  Executive Summary – Chart on Market Segmentation by Application

                              Exhibit 06:  Executive Summary – Chart on Incremental Growth

                              Exhibit 07:  Executive Summary – Data Table on Incremental Growth

                              Exhibit 08:  Executive Summary – Chart on Vendor Market Positioning

2. Market Landscape                            

               2.1 Market ecosystem             

                              Exhibit 09:  Parent market

                              Exhibit 10:  Market characteristics

3. Market Sizing                      

               3.1 Market definition

                              Exhibit 11:  Offerings of vendors included in the market definition

               3.2 Market segment analysis  

                              Exhibit 12:  Market segments

               3.3 Market size 2021 

               3.4 Market outlook: Forecast for 2021 - 2026 

                              Exhibit 13:  Chart on Global - Market size and forecast 2021-2026 ($ billion)

                              Exhibit 14:  Data Table on Global - Market size and forecast 2021-2026 ($ billion)

                              Exhibit 15:  Chart on Global Market: Year-over-year growth 2021-2026 (%)

                              Exhibit 16:  Data Table on Global Market: Year-over-year growth 2021-2026 (%)

4. Five Forces Analysis                         

               4.1 Five Forces Summary         

                              Exhibit 17:  Five forces analysis - Comparison between 2021 and 2026

               4.2 Bargaining power of buyers            

                              Exhibit 18:  Bargaining power of buyers – Impact of key factors in 2021 and 2026

               4.3 Bargaining power of suppliers        

                              Exhibit 19:  Bargaining power of suppliers – Impact of key factors in 2021 and 2026

               4.4 Threat of new entrants     

                              Exhibit 20:  Threat of new entrants – Impact of key factors in 2021 and 2026

               4.5 Threat of substitutes          

                              Exhibit 21:  Threat of substitutes – Impact of key factors in 2021 and 2026

               4.6 Threat of rivalry   

                              Exhibit 22:  Threat of rivalry – Impact of key factors in 2021 and 2026

               4.7 Market condition 

                              Exhibit 23:  Chart on Market condition - Five forces 2021 and 2026

5 Market Segmentation by Application                        

               5.1 Market segments

                              Exhibit 24:  Chart on Application - Market share 2021-2026 (%)

                              Exhibit 25:  Data Table on Application - Market share 2021-2026 (%)

               5.2 Comparison by Application             

                              Exhibit 26:  Chart on Comparison by Application

                              Exhibit 27:  Data Table on Comparison by Application

               5.3 Collectibles - Market size and forecast 2021-2026 

                              Exhibit 28:  Chart on Collectibles - Market size and forecast 2021-2026 ($ billion)

                              Exhibit 29:  Data Table on Collectibles - Market size and forecast 2021-2026 ($ billion)

                              Exhibit 30:  Chart on Collectibles - Year-over-year growth 2021-2026 (%)

                              Exhibit 31:  Data Table on Collectibles - Year-over-year growth 2021-2026 (%)

               5.4 Sports - Market size and forecast 2021-2026           

                              Exhibit 32:  Chart on Sports - Market size and forecast 2021-2026 ($ billion)

                              Exhibit 33:  Data Table on Sports - Market size and forecast 2021-2026 ($ billion)

                              Exhibit 34:  Chart on  Sports - Year-over-year growth 2021-2026 (%)

                              Exhibit 35:  Data Table on Sports - Year-over-year growth 2021-2026 (%)

               5.5 Arts - Market size and forecast 2021-2026

                              Exhibit 36:  Chart on Arts - Market size and forecast 2021-2026 ($ billion)

                              Exhibit 37:  Data Table on Arts - Market size and forecast 2021-2026 ($ billion)

                              Exhibit 38:  Chart on Arts - Year-over-year growth 2021-2026 (%)

                              Exhibit 39:  Data Table on Arts - Year-over-year growth 2021-2026 (%)

               5.6 Others - Market size and forecast 2021-2026          

                              Exhibit 40:  Chart on Others - Market size and forecast 2021-2026 ($ billion)

                              Exhibit 41:  Data Table on Others - Market size and forecast 2021-2026 ($ billion)

                              Exhibit 42:  Chart on Others - Year-over-year growth 2021-2026 (%)

                              Exhibit 43:  Data Table on Others - Year-over-year growth 2021-2026 (%)

               5.7 Market opportunity by Application              

                              Exhibit 44:  Market opportunity by Application ($ billion)

6. Customer landscape                        

               6.1 Customer landscape overview       

                              Technavio’s customer landscape matrix comparing Drivers or price sensitivity, Adoption lifecycle, importance in customer price basket, Adoption rate and Key purchase criteria

                              Exhibit 45:  Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

7. Geographic Landscape                    

               7.1 Geographic segmentation

                              Exhibit 46:  Chart on Market share by geography 2021-2026 (%)

                              Exhibit 47:  Data Table on Market share by geography 2021-2026 (%)

               7.2 Geographic comparison    

                              Exhibit 48:  Chart on Geographic comparison

                              Exhibit 49:  Data Table on Geographic comparison

               7.3 APAC - Market size and forecast 2021-2026             

                              Exhibit 50:  Chart on APAC - Market size and forecast 2021-2026 ($ billion)

                              Exhibit 51:  Data Table on APAC - Market size and forecast 2021-2026 ($ billion)

                              Exhibit 52:  Chart on APAC - Year-over-year growth 2021-2026 (%)

                              Exhibit 53:  Data Table on APAC - Year-over-year growth 2021-2026 (%)

               7.4 South America - Market size and forecast 2021-2026          

                              Exhibit 54:  Chart on  South America - Market size and forecast 2021-2026 ($ billion)

                              Exhibit 55:  Data Table on  South America - Market size and forecast 2021-2026 ($ billion)

                              Exhibit 56:  Chart on  South America - Year-over-year growth 2021-2026 (%)

                              Exhibit 57:  Data Table on  South America - Year-over-year growth 2021-2026 (%)

               7.5 Middle East and Africa - Market size and forecast 2021-2026           

                              Exhibit 58:  Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ billion)

                              Exhibit 59:  Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ billion)

                              Exhibit 60:  Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)

                              Exhibit 61:  Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)

               7.6 North America - Market size and forecast 2021-2026          

                              Exhibit 62:  Chart on North America - Market size and forecast 2021-2026 ($ billion)

                              Exhibit 63:  Data Table on North America - Market size and forecast 2021-2026 ($ billion)

                              Exhibit 64:  Chart on North America - Year-over-year growth 2021-2026 (%)

                              Exhibit 65:  Data Table on North America - Year-over-year growth 2021-2026 (%)

               7.7 Europe - Market size and forecast 2021-2026         

                              Exhibit 66:  Chart on Europe - Market size and forecast 2021-2026 ($ billion)

                              Exhibit 67:  Data Table on Europe - Market size and forecast 2021-2026 ($ billion)

                              Exhibit 68:  Chart on Europe - Year-over-year growth 2021-2026 (%)

                              Exhibit 69:  Data Table on Europe - Year-over-year growth 2021-2026 (%)

               7.8 Singapore - Market size and forecast 2021-2026    

                              Exhibit 70:  Chart on Singapore - Market size and forecast 2021-2026 ($ billion)

                              Exhibit 71:  Data Table on Singapore - Market size and forecast 2021-2026 ($ billion)

                              Exhibit 72:  Chart on Singapore - Year-over-year growth 2021-2026 (%)

                              Exhibit 73:  Data Table on Singapore - Year-over-year growth 2021-2026 (%)

               7.9 China - Market size and forecast 2021-2026            

                              Exhibit 74:  Chart on China - Market size and forecast 2021-2026 ($ billion)

                              Exhibit 75:  Data Table on China - Market size and forecast 2021-2026 ($ billion)

                              Exhibit 76:  Chart on China - Year-over-year growth 2021-2026 (%)

                              Exhibit 77:  Data Table on China - Year-over-year growth 2021-2026 (%)

               7.10 Venezuela - Market size and forecast 2021-2026 

                              Exhibit 78:  Chart on Venezuela - Market size and forecast 2021-2026 ($ billion)

                              Exhibit 79:  Data Table on Venezuela - Market size and forecast 2021-2026 ($ billion)

                              Exhibit 80:  Chart on Venezuela - Year-over-year growth 2021-2026 (%)

                              Exhibit 81:  Data Table on Venezuela - Year-over-year growth 2021-2026 (%)

               7.11 The Philippines - Market size and forecast 2021-2026       

                              Exhibit 82:  Chart on The Philippines - Market size and forecast 2021-2026 ($ billion)

                              Exhibit 83:  Data Table on The Philippines - Market size and forecast 2021-2026 ($ billion)

                              Exhibit 84:  Chart on The Philippines - Year-over-year growth 2021-2026 (%)

                              Exhibit 85:  Data Table on The Philippines - Year-over-year growth 2021-2026 (%)

               7.12 United Arab Emirates - Market size and forecast 2021-2026          

                              Exhibit 86:  Chart on United Arab Emirates - Market size and forecast 2021-2026 ($ billion)

                              Exhibit 87:  Data Table on United Arab Emirates - Market size and forecast 2021-2026 ($ billion)

                              Exhibit 88:  Chart on United Arab Emirates - Year-over-year growth 2021-2026 (%)

                              Exhibit 89:  Data Table on United Arab Emirates - Year-over-year growth 2021-2026 (%)

               7.13 Market opportunity by geography            

                              Exhibit 90:  Market opportunity by geography ($ billion)

8. Drivers, Challenges, and Trends                  

               8.1 Market drivers      

                              8.1.1 Increasing demand for digital artworks

                              8.1.2 Growing investment in digital assets

                              8.1.3 Security and ownership of digital assets

               8.2 Market challenges              

                              8.2.1 Uncertainty of the NFT market

                              8.2.2 Threat from cyberattacks

                              8.2.3 Legal and regulatory challenges associated with the NFT market

               8.3 Impact of drivers and challenges   

                              Exhibit 91:  Impact of drivers and challenges in 2021 and 2026

               8.4 Market trends      

                              8.4.1 Growing number of big brands entering the market

                              8.4.2 Emergence of fractionalized NFTs

                              8.4.3 Growing application of AI in the market

9. Vendor Landscape                            

               9.1 Overview

               9.2 Vendor landscape

                              Exhibit 92:  Overview on Criticality of inputs and Factors of differentiation

                              The potential for the disruption of the market landscape was moderate in 2020, and its threat is expected to remain unchanged by 2025. 

               9.3 Landscape disruption         

                              Exhibit 93:  Overview on factors of disruption

               9.4 Industry risks        

                              Exhibit 94:  Impact of key risks on business

10. Vendor Analysis               

               10.1 Vendors covered              

                              Exhibit 95:  Vendors covered

               10.2 Market positioning of vendors    

                              Exhibit 96:  Matrix on vendor position and classification

               10.3 Binance Services Holdings Ltd.    

                              Exhibit 97:  Binance Services Holdings Ltd. - Overview

                              Exhibit 98:  Binance Services Holdings Ltd. - Product / Service

                              Exhibit 99:  Binance Services Holdings Ltd. - Key offerings

               10.4 Dapper Labs Inc.

                              Exhibit 100:  Dapper Labs Inc. - Overview

                              Exhibit 101:  Dapper Labs Inc. - Product / Service

                              Exhibit 102:  Dapper Labs Inc. - Key offerings

               10.5 Decentraland Foundation             

                              Exhibit 103:  Decentraland Foundation - Overview

                              Exhibit 104:  Decentraland Foundation - Product / Service

                              Exhibit 105:  Decentraland Foundation - Key offerings

               10.6 FTX Trading Ltd.

                              Exhibit 106:  FTX Trading Ltd. - Overview

                              Exhibit 107:  FTX Trading Ltd. - Product / Service

                              Exhibit 108:  FTX Trading Ltd. - Key offerings

               10.7 Funko Inc.

                              Exhibit 109:  Funko Inc. - Overview

                              Exhibit 110:  Funko Inc. - Product / Service

                              Exhibit 111:  Funko Inc. - Key news

                              Exhibit 112:  Funko Inc. - Key offerings

               10.8 Gemini Trust Co. LLC       

                              Exhibit 113:  Gemini Trust Co. LLC - Overview

                              Exhibit 114:  Gemini Trust Co. LLC - Product / Service

                           &

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
Technavio

TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
Technavio

TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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The non-fungible token (nft) market market growth will increase by $$ 147.24 bn during 2023-2026.
The non-fungible token (nft) market market is expected to grow at a CAGR of 35.27% during 2023-2026.
Technavio has segmented the non-fungible token (nft) market market by application (Collectibles, Sports, Arts, and Others) and geography (APAC, South America, Middle East and Africa, North America, and Europe).
Asynchronous Art Inc., Binance Services Holdings Ltd., Dapper Labs Inc., Decentraland Foundation, Enjin Pte. Ltd., Foundation Labs Inc., FTX Trading Ltd., Funko Inc., Gala Games, Gemini Trust Co. LLC, Mintable.app, Mobox Digital Co. Ltd., Onchain Labs Inc., OpenSea, Rarible Inc., Sorare SAS, SuperRare Labs Inc., Theta Labs Inc., Yellowheart LLC, Yuga Labs LLC are a few of the key vendors in the non-fungible token (nft) market market.
APAC will register the highest growth rate of 43% among the other regions. Therefore, the non-fungible token (nft) market market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
  • United Arab Emirates
  • Singapore
  • China
  • The Philippines
  • Venezuela
The key factors driving the non-fungible token (nft) market market growth are:
  • increasing demand for digital artworks
  • Growing number of big brands entering the market
The non-fungible token (nft) market market vendors should focus on grabbing business opportunities from the collectibles segment as it accounted for the largest market share in the base year.
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