The NFT Market report has been added to Technavio’s offering. With ISO 9001:2015 certification, Technavio is proudly partnering with more than 100 Fortune 500 companies for over 16 years. The potential growth difference for the NFT market between 2021 and 2026 is USD 147.24 bn. To get the exact yearly growth variance and the Y-O-Y growth rate, Buy Sample Report.
Parent Market Analysis
Technavio categorizes the global non-fungible token (NFT) market as a part of the global systems software market within the global Information Technology market. External factors influencing the parent market’s growth potential in the coming years have been thoroughly investigated in our research analysis.
NonFfungible Token (NFT) Market Value Chain Analysis
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.
The value chain of the non-fungible token (NFT) market includes the following core components:
- Inputs
- Inbound logistics
- Operations
- Outbound logistics
- Marketing and sales
- Innovation
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Key Market Dynamics:
- Market Driver
- Market Challenges
The rising demand for digital artworks is one of the major drivers propelling the growth of the non-fungible token (NFT) industry globally. Through the Internet, social media, and other digital platforms, NFT has become more popular in digital creative applications worldwide. The owner or the artist can then decide on a fair price for the NFT artworks.
The end-user will then receive the key as proof of possession. The purchase turnaround time can be shortened by directly selling artwork using virtual platforms using the tokens. As a result, these elements are boosting demand for the worldwide NFT market. However, factors like the NFT market’s unpredictability could limit market expansion.
The non-fungible token (NFT) market share rise by the collectibles segment will be large. The global increase in demand for digital assets is a crucial factor in the collectible segment. The majority of sectors now sell their products exclusively online.
The near universality of the Internet, the pervasiveness of mobile devices, and the growth in Internet usage have prompted businesses to broaden their product lines and make investments in digital assets. NFT collectibles are sold by a number of retailers, including Funko Inc., Foundation, and Makersplace.
Some Companies Mentioned with their Offerings
- 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.
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