Press release
Global Non-Fungible Token (NFT) Market Insights, Industry Outlook, Growing Trends And Demands 2031
Non-Fungible Token (NFT) Market
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The global non-fungible tokens (NFT) market report by the business research company The increasing demand for digital artwork to be a major growth driver for the non-fungible tokens (NFT) market. The word digital art refers to art that is created or displayed using digital technology. Artists value non-fungible tokens because they ensure the validity and uniqueness of the blockchain representation of their work. For instance, in 2021, Grimes is the most recent artist to profit in on the NFT gold rush, with digital artworks valued at about $6 million sold. Additionally, in 2021, digital artist Pak's collection was sold for about $17 million and in 2020, the digital artist Beeple sold $3.5 million in artwork through Nifty Gateway. Therefore, the increasing demand for digital artwork drives the growth of the non-fungible tokens (NFT) market.
The global non-fungible token market is expected to grow from $14.02 billion in 2021 to $21.33 billion in 2022 at a compound annual growth rate (CAGR) of 52.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting manyevery markets across the globe. The non-fungible tokens (NFT) market is expected to reach $82.43 billion in 2026 at a CAGR of 40.2%.
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Major players in the non-fungible tokens (NFT) market are SemiDot Infotech, Blockchain App Factory, Cinedigm, Funko, Takung Art, WISeKey, Oriental Culture Holding, and Liquid Media
The global non-fungible tokens (NFT) market is segmented -
1) By Type: Art, Collectibles, Gaming, Metaverses, Sports, Utilities, Others
2) By Market Type: Primary, Secondary
3) By Cryptocurrency Usage: ETH, DAI, MANA, SAND, REVV, MATIC, CUBE, FOAM, Others
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The Non-fungible tokens (NFT) market Report Contents Include
1. Executive Summary
2. Non-Fungible Token (NFT) Market Characteristics
3. Non-Fungible Token (NFT) Market Trends And Strategies
4. Non-Fungible Token (NFT) Market - Macro Economic Scenario
5. Non-Fungible Token (NFT) Market Size And Growth
.......
26. Africa Non-Fungible Token (NFT) Market
27. Non-Fungible Token (NFT) Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Non-Fungible Token (NFT) Market
29. Non-Fungible Token (NFT) Market Future Outlook and Potential Analysis
30. Appendix
This report covers the trends and market dynamics of the non-fungible tokens (NFT) market in major countries - Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The report also includes consumer surveys and various future opportunities for the market.
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