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

Global 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 NT Survey, the NFT industry is expected to grow by 51.0% on an annual basis to reach US$46157.4 million in 2022 on global scale.

The NFT industry is expected to grow steadily over the forecast period, recording a CAGR of 37.1% during 2022-2028. The NFT Spend Value in the country will increase from US$46157.4 million in 2022 to reach US$278475.3 million by 2028.

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. The increasing impact of celebrities on NFT adoption, the modernising of the gaming business, and the modest but steady rise in demand for digital artworks are all major elements propelling the pace of NFT growth. Moreover, as NFT startups continue innovating and developing differentiated NFT products, it will further accelerate their global growth.

The United Kingdom NFT industry is also getting support from the government. Notably, the government's support for developing the NFT industry is a testament to the high growth potential of the NFT market in the United Kingdom. The NFT space has gained traction from major institutions, including public and private. As the industry continues to record strong growth on the back of rising interest among the general public toward digital assets, government institutions globally have their perception of NFTs.

In the United Kingdom, the government has adopted a forward-looking approach by announcing the plans to create an NFT as it seeks to lead the way in crypto. In April 2022, the United Kingdom Finance Minister asked the Royal Mint to create and issue the NFT by the summer. In addition, the government announced steps to bring digital assets under more regulatory scrutiny. TechInsight360 expects that the forward-looking approach adopted by the government in the United Kingdom will drive the next growth phase for the NFT industry in the country.

The non-fungible token (NFT) market in Latin America has undergone strong expansion over the last few years. In addition, the adoption by visual artists and some well-known names in the music industry is supporting the growth of the NFT industry in Brazil and Mexico. NFT marketplaces are looking to tap into the high-growth market potential. Consequently, firms are entering into strategic partnerships with Brazilian football players, who have millions of fans across the country and globally, seeking to drive their growth in the NFT market.

The emergence of NFTs has created a space for digital artists in the Asia Pacific region and offered them a more prudent way to reach the inaccessible audience. The NFT market has allowed artists previously working with brands and agencies to find a more independent option, creating endless possibilities for them. In India, many artists have sold their work on different NFT platforms, thus creating a new source of revenue. Several major Chinese companies have jumped on the NFT bandwagon. These include internet tech giants, blockchain startups, retail brands, and art auction houses.

In the Middle East and Africa region, particularly in the UAE, there has been an uptake in NFT-related activities. In 2022, Art Dubai – the largest contemporary art fair in the MENA region – welcomed nearly 100 international and local art dealers and a digital collection of 17 platforms and galleries dedicated to showcasing and selling NFTs. While more and more countries are seeking to impose strict regulatory measures on NFTs, there has been a notable surge in the buying, selling, and creation of the NFTs in the UAE. Several innovative NFT marketplaces have also emerged in the country, which has made it relatively simpler for the general public to buy, sell, and trade in NFTs. From NFT-based startups to cryptocurrency exchanges, several players are entering the Middle East and Africa NFT market; the presence of several NFT marketplaces has also supported the rise in NFT trading transaction value and volume, the trend expected to gain further momentum globally

Among the factors that have driven the popularity of NFTs among the general public include the tech-savvy nature of consumers and the country's high smartphone and internet penetration rate.

TechInsight360 expects the trend to continue over the next four to eight quarters as more and more players, including the government, are entering the NFT sector. This will subsequently drive the popularity of NFTs among the general public, thereby supporting the overall market growth from the short to medium-term perspective.

This title from TechInsight360 is a bundled offering, combining 20 reports, covering global insights along with data centric analysis at global and country level:

1 Gobal NFT Market Insight Brief
2 Gobal NFT Market Intelligence and Future Growth Dynamics Databook
3 Agentina NFT Market Intelligence and Future Growth Dynamics Databook
4 Astralia NFT Market Intelligence and Future Growth Dynamics Databook
5 Bazil NFT Market Intelligence and Future Growth Dynamics Databook
6 Cnada NFT Market Intelligence and Future Growth Dynamics Databook
7 Cina NFT Market Intelligence and Future Growth Dynamics Databook
8 Fance NFT Market Intelligence and Future Growth Dynamics Databook
9 Grmany NFT Market Intelligence and Future Growth Dynamics Databook
10 Idia NFT Market Intelligence and Future Growth Dynamics Databook
11 Idonesia NFT Market Intelligence and Future Growth Dynamics Databook
12 Ialy NFT Market Intelligence and Future Growth Dynamics Databook
13. Mxico NFT Market Intelligence and Future Growth Dynamics Databook
14. Pilippines NFT Market Intelligence and Future Growth Dynamics Databook
15. Rssia NFT Market Intelligence and Future Growth Dynamics Databook
16. Suth Africa NFT Market Intelligence and Future Growth Dynamics Databook
17. Tailand NFT Market Intelligence and Future Growth Dynamics Databook
18. Uited Arab Emirates NFT Market Intelligence and Future Growth Dynamics Databook
19. Uited Kingdom NFT Market Intelligence and Future Growth Dynamics Databook
20. Uited States 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.