“Emergen Research | Fungible Token Market”
Rising popularity of metaverse and increasing demand for decentralized markets are some of the key factors driving market revenue growth
According to the latest analysis by Emergen Research, the non-fungible token (NFT) market size is expected to reach USD 50.10 billion in 2021 and is expected to register a CAGR of 10.7 per cent during the forecast period. The rapid traction of the metaverse and the growing demand for decentralized markets are some of the key factors driving the revenue growth of the global non-fungible token market. The increasing use of NFTs for domain name ownership is also expected to boost the revenue growth of the market to a great extent. Blockchain domain owners can use private keys to manage related domains. The Standard Domain Name Service (DNS) is regulated by the Internet Corporation for Assigned Names and Numbers (ICANN), and there is little supervision of such domains.
This results in raised issues of censorship and security. Blockchain domain names are permanently recorded in a public registry and can be erased or changed by a third party, which helps alleviate such concerns. Blockchain Domains NFT allows for quick trading and customizable domain names. The Ethereum Name Service (ENS) and Unstoppable Domains, which are decentralized solutions to traditional DNS, allow crypto-addresses similar to Instagram or Twitter handles, yet each name must be different. While Instagram and Twitter users cannot sell their usernames, ENS and Unstoppable Domains enable users to buy and sell crypto-addresses.
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The report discusses the growth opportunities, challenges, market drivers and restrictions, limitations, threats and demands of the non-convertible token market in detail in the report. The study further assesses the regional market as well as the international market to gain insight into the scope of the market. The report also provides projections and forecasts regarding the market segment and sub-segments that show promising growth in the forecast timeline. The report provides deep insights into the technological advancements, the industrial landscape, and emerging product and technology developments in the non-fungible token market. It provides useful insights into the business sector to help businesses capitalize on lucrative growth opportunities.
The report, in addition, provides a comprehensive SWOT analysis and Porter’s Five Forces analysis to provide a better understanding of the industry’s competitive landscape. It also covers the strategies adopted by the major players such as mergers and acquisitions, collaborations, joint ventures, product launches and brand promotions. The objective of the report is to provide readers with a holistic understanding of the relevant features of the industry.
Major companies in the market include:
Yellowheart, Cloudflare, Inc., PLBY Group, Inc., Dolphin Entertainment, Inc., Funko Inc., OpenC (Ozone Networks, Inc.), Takung Art Co., Ltd., Dapper Labs, Inc., Nifty Gateway (Gemini) Trust Company, LLC), and MakersPlace (Onchain Labs, Inc.)
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Highlights of the report
The physical assets segment revenue is expected to expand at a fairly steady CAGR during the forecast period. Physical asset tokenization is not as advanced as digital asset tokenization. However, there are increasing initiatives to discover tokenization of real estate, one-of-a-kind fashion items, and others.
The gaming segment is expected to register a fairly steady revenue growth rate over the forecast period due to the rapid growth of the gaming industry along with the increasing use of NFTs to earn money while gaming.
Cloudflare, Inc., PLBY Group, Inc., Dolphin Entertainment, Inc., and Funko Inc. The market in North America is expected to register a much stronger revenue CAGR as compared to other regional markets owing to the high presence of major market players such as. country in the region.
Furthermore, the report provides a comprehensive overview of the non-fungible token market along with product portfolio and market performance. The report provides key insights into market share, supply chain analysis, demand and supply ratio, import/export details, and product and consumption patterns. To gain a better understanding, the report is further divided into segments such as the product types offered by the market, application spectrum, companies and the major geographic regions where the market has established its presence.
Emergen Research has segmented the global non-fungible tokens market on the basis of type, application, end use, and region:
Type Outlook (revenue, USD billion; 2019–2030)
material possessions
digital asset
Application Outlook (revenue, USD billion; 2019–2030)
collection
Video Clip
audio clip
gamification
other
art
pixel art
fractal/algorithmic art
computer generated painting
2D/3D Painting
2D/3D Computer Graphics
gif
other
Gambling
Trading Card Game (TCG)
Video game
Strategy Role Playing Game (RPG)
other
utilities
Ticket
workspace name
property ownership
metaverse
Play
other
End-use Outlook (revenue, USD billion; 2019–2030)
Personal
commercial
get customization
The study gives realistic answers to questions regarding market segmentation by type, region and application, to power overall market research for the forecast period. The subject matter experts behind Market Analysis collaborate with some highly acclaimed business owners to track records and estimate what’s happening in areas such as technology innovation, production volume, end use and product pricing. Research analysts have reimagined their approach to uniquely present a report to provide unmatched information on key manufacturers, new entrants, exits from white spaces, acquisitions and mergers, collaborations and product launches.
The study characterized an aggressive landscape in the non-convertible token market with a focus on recent product launches, mergers and acquisitions, new entrants and growing investment wallets. Incorporating pre-essential information such as import and export status, supply chain management, consumption power, investment feasibility and demand and supply aims to enable business owners to increase their understanding of the key processes for growth for the forecast period Is.
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Key questions answered in the report:
What is the growth rate of the non-fungible token market? What is the expected market valuation of the non-fungible token industry by 2030?
What are the major growth drivers and deterrents of the non-convertible token market?
Who are the major players operating in the market? What are the major strategies adopted by these companies?
What are the key opportunities and growth prospects of the non-convertible token industry during the forecast period?
Which sector is expected to see significant growth in the coming years?
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Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports and consulting services. Our solutions are completely focused on your objective, to detect, target and analyze changes in consumer behavior across demographics across all industries, and help customers make better business decisions. We offer Market Intelligence Studies to ensure relevant and fact-based research across a range of industries including Healthcare, Touch Points, Chemicals, Types and Energy. We constantly update our research proposals to ensure that our clients are aware of the latest trends in the market. Emergen Research has a strong base of experienced analysts in various areas of expertise. Our industry experience and ability to develop solid solutions to any research problem gives our clients the ability to have an edge over their respective competitors.
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