SEOUL, South Korea, June 16, 2022 (GLOBE NEWSWIRE) — The Global Non-fungible Token Market accounted for US$ 16 Bn in 2021 and is estimated to reach US$ 212 Bn by 2030, with a significant CAGR of 33.7% from 2022 to 2030.
NFTs are tokenized assets that are traded on a blockchain, the digital ledger technology (DLT) that underpins crypto currencies such as Ethereum and Bitcoin. Unlike Bitcoin, each NFT is a distinct entity that cannot be exchanged for another. NFTs are most usually connected with purchasing/owning digital artwork, as they allow an investor or collector to possess the original digital piece while retaining copyright and reproduction rights.
The NFT is a digital, irreversible proof of ownership and authenticity certificate. Unless they sell or lease the copyright for the individual NFT, NFT developers maintain intellectual property rights. NFTs free artists from middlemen and brokers since royalties can be put in at the time of creation—in the past, artists have not benefited from secondary sales.
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Report Coverage:
| Market | Non-fungible Token Market |
| Market Size 2021 | US$ 16 Bn |
| Market Forecast 2030 | US$ 212 Bn |
| CAGR | 33.7% During 2022 – 2030 |
| Analysis Period | 2018 – 2030 |
| Base Year | 2021 |
| Forecast Data | 2022 – 2030 |
| Segments Covered | By Type, By Application, By End-Use, And By Geography |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
| Key Companies Profiled | Cloudflare, Inc., Dapper Labs, Inc., Dolphin Entertainment, Inc., Funko, Gemini Trust Company, LLC., Onchain Labs, Inc., Ozone Networks, Inc., PLBY Group, Inc., Takung Art Co., Ltd., and YellowHeart, LLC. |
| Report Coverage | Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis |
| Customization Scope | 10 hrs of free customization and expert consultation |
COVID-19 Impact on Non-Fungible Token Industry
In 2020, the pandemic sped up the traditional art…
