Europe NFT Market Intelligence and Future Growth Dynamics Databook – 50+ KPIs on NFT Investments by Key Assets, Currency, Sales Channels - Q2 2022

Europe NFT Market Intelligence and Future Growth Dynamics Databook – 50+ KPIs on NFT Investments by Key Assets, Currency, Sales Channels - Q2 2022

Report Description

According to TechInsight360’s Q2 2022 NFT Survey, NFT industry in Europe is expected to grow by 46.8% on an annual basis to reach US$13353.4 million in 2022.

The NFT industry is expected to grow steadily over the forecast period, recording a CAGR of 33.4% during 2022-2028. The NFT Spend Value in the country will increase from US$13353.4 million in 2022 to reach US$68558.5 million by 2028.

In Europe, the NFT market witnessed significant growth recently. The NFT market is booming since NFTs are an innovation that establishes property rights in the digital zone for the first time, and this uniqueness is driving the value of NFTs and hence, the European market.

The NFTs have become prominent across Europe, including in some of the countries such as the United Kingdom, Germany, France and Italy. Every industry finds an innovative NFT use case, from sports to real estate to entertainment. This NFT uses cases to support the market's growth in the country. Moreover, as NFT startups continue to innovate and develop differentiated NFT products, these startups are also raising funding rounds in the country to further accelerate their growth.

The United Kingdom NFT industry is also getting support from the government

Notably, the support from the government towards the development of the NFT industry is a testament to the high growth potential of the NFT market in the United Kingdom. With the NFT market just starting in the country, TechInsight360 expects the industry to record strong growth over the next three to four years.

NFT marketplaces are raising funding rounds to drive their growth in the NFT industry

The global NFT industry is expected to record strong growth over three to four years. In the growing prominence and popularity of the NFT market in the United Kingdom, NFT startups are raising funding rounds to further accelerate the growth of their marketplaces. For instance,
• In March 2022, KnownOrigin, one of the leading NFT marketplaces in the United Kingdom that allows users to discover rare art, announced that the firm had raised US$4.85 million in its Series A funding round, which was led by venture capital firms GBV and Sanctor Capital. Other investors participating in the funding round include Pluto Digital, Cultur3 Capital, LD Capital, and D1 Ventures.
• The NFT startup is planning to use the funding round to further improve its NFT digital art marketplace, to allow creators to benefit from emerging technologies such as Metaverse and Web 3. According to the founder, the funding round will help the firm grow, innovate, and build an NFT ecosystem that will further accelerate the market's growth.

Venture Capital investment firm acquires 50% stake in the UK-based NFT startup

With the NFT market expected to record strong growth over the next three to four years, venture capital firms are increasing their stake in NFT startups in the United Kingdom to get a major market share. For instance,
• In April 2021, Codebase Ventures Inc. (Codebase) announced that the firm had acquired a 50% stake in the UK-based NFT startup, InstaCoin. Notably, the 50% stake acquired by Codebase represents an investment of £100,000 in the NFT startup. InstaCoin allows users to connect their social media profiles to the blockchain and create instant NFT tokens using their content.

NFT platform that allows social media users to connect their profile to blockchain and create NFTs launched in the United Kingdom

Millions of social media users have looking for ways to monetize their content online. Targeting such users, NFT startups are creating innovative products which allow social media users to create NFTs and monetize their content. For instance,
• InstaCoin, an innovative NFT startup in the United Kingdom, allows users to connect their social media profiles to the blockchain and instantly create NFT tokens from their content. This allows social media users to start monetizing the content they have created on social media platforms. Once the NFT tokens are created, followers and fans connect in the open market for immediate sales.

In Germany, NFTs are mainly used in digital trading cards, game characters, virtual lands in virtual worlds, or crypto art. As per a novel crypto exchange aggregator, Coincub, Germany had outrun Singapore as the most crypto-friendly country. Germany adopted blockchain technology long back in 2019, boosting digital transformation. This further made the country an attractive hub for developing blockchain, NFT, Web3, and metaverse applications which are further leveraged in fintech, climate tech, and businesses, including Germany's digital identities project.

Since the country started to allow crypto investments in long-term domestic savings, the country turned out to be the most suitable for crypto investments. Therefore, TechInsight360 anticipates that in a country such as Germany, where the government's policies are smart and sharp and are much ahead of time, the country is likely to witness substantial growth over the next three to four years.

German companies such as About You, SAP, BrainBot, BigchainDB, and others have been developing NFT, Metaverse, Web3, and crypto payment applications in e-commerce platforms. To fund these upcoming new technologies, a New York-based ETF sponsor focused on innovative thematic funds, Roundhill Investments, introduced the Roundhill Ball Metaverse UCITS ETF on the Deutsche Börse Xetra in March 2022. This is Germany's first metaverse exchange-traded fund. Thus, it can be inferred that these developments have enabled Germany to adopt and utilize the NFT market in various businesses and organizations. Further, various blockchain startups had established in Germany's crypto capital of Berlin, boosting the NFT and allied new markets.

NFT popularity has surged significantly in France

Globally, brands are finding innovative use cases of NFT. From using NFT to raise funding for charity organizations to use them for driving brand awareness, innovation is driving the market growth.

Similar trends are visible in France, where startups enter the NFT space to drive brand awareness and consumer engagement. Notably, the presence of these players and their NFT trading platforms have made it easier for the general public to buy and sell their collections in the country.

The NFT popularity has surged significantly globally over the last 12 months. One of the major reasons behind the growing popularity of NFTs is the rising number of celebrities entering the space. The trends are similar in France as well. For instance,
• In November 2021, Paul Pogba, the French football superstar, announced his entry into the NFT market. Through a strategic collaboration with CryptoDragons, the blockchain-based dragon Metaverse project allowing users to collect, sell, breed, and battle NFT dragons, Paul announced that he plans to buy NFTs.
• Notably, Paul Pogba is not the only football player to enter the NFT space globally. Others, such as Lionel Messi, have pushed and even launched their NFT collection for football fans worldwide.

Auction houses are conducting NFT auctions in France

With the growing popularity of NFTs in the digital art segment, many auction houses in the country are seeking to conduct an auction of virtual works in France. For instance,
• In March 2022, FauveParis, one of the leading auction houses in the country, conducted the first-ever NFT auction in France.

French NFT startups are raising funding rounds to expand their footprint in the global markets

In 2021, the global NFT industry recorded strong growth, and the market is expected to keep growing over the next four to eight quarters. In the midst of this growing industry globally, French NFT startups are raising funding rounds to expand their footprint in the global markets to boost their market share further. For instance,
• In September 2021, Sorare, one of the leading NFT startups in France, announced that the firm had raised US$680 million at a valuation of US$4.3 billion. Notably, this is the largest fundraising round raised by any startup in the French tech sector. Founded in 2018, the firm has become one of the most valuable startups in the country, with international football stars among its investors.

Similarly, Italy, a pioneer in generating NFT artists, witnessed strong adoption of digital crypto art and NFTs, helping the country get the title of ""crypto art Renaissance."" Moreover, Italy has ranked third globally for total gross sales in the main NFT market TremendousRare.

Therefore, TechInsight360 expects more Italian artists to enter the NFT arena with innovative works over the longer run, earning significant revenue and capturing the European market.

This title from TechInsight360 is a bundled offering, combining 14 reports, covering regional insights along with data centric analysis at regional and country level:

1. Europe NFT Insight Market Brief
2. Europe NFT Market Intelligence and Future Growth Dynamics Databook
3. Austria NFT Market Intelligence and Future Growth Dynamics Databook
4. Belgium NFT Market Intelligence and Future Growth Dynamics Databook
5. Denmark NFT Market Intelligence and Future Growth Dynamics Databook
6. Finland NFT Market Intelligence and Future Growth Dynamics Databook
7. France NFT Market Intelligence and Future Growth Dynamics Databook
8. Germany NFT Market Intelligence and Future Growth Dynamics Databook
9. Italy NFT Market Intelligence and Future Growth Dynamics Databook
10. Poland NFT Market Intelligence and Future Growth Dynamics Databook
11. Russia NFT Market Intelligence and Future Growth Dynamics Databook
12. Spain NFT Market Intelligence and Future Growth Dynamics Databook
13 Sitzerland NFT Market Intelligence and Future Growth Dynamics Databook
14 Uited Kingdom NFT Market Intelligence and Future Growth Dynamics Databook

Scope

This report provides in-depth, data-centric analysis of NFT Market and below is the summary of key market segments:

• NFT Market Size and Forecast by Key Assets, 2019-2028
Collectibles and Art
Real Estate
Sports
Gaming
Utility
Fashion & Luxury
Other

• NFT Market Size and Forecast by Key NFT Collectible Assets, 2019-2028
Digital Art
Music & Sound Clip
Videos
Memes & Gif
Other

• NFT Market Size and Forecast by Currency, 2019-2028
Ethereum
Solana
Avalanche
Polygon
BSC
Flow
Wax
Ronin
Other

• NFT Market Size and Forecast by Sales Channels, 2019-2028
Primary
Secondary

• User Statistics, 2019-2028

Reasons to buy

• With the most comprehensive study on this industry, including 4 geographies.
• Based on data and analysis, develop strategies with a global perspective.
• Identify investment opportunities in growth segments.
• Exceed competition by incorporating forecast data as well as market trends.
• Use the relationships between major data sets with valuable insights to improve strategy.
• Appropriate for providing accurate, high-quality data and analysis to support internal and external presentations.