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One of the key factors fueling the growth of the NFT (non-fungible token) market is the rising demand for digital art on a global scale.

SURREY NORTH, BRITISH COLUMBIA, CANADA, December 8, 2022 /EINPresswire.com/ -- According to the most recent analysis by Emergen Research, the market for non-fungible tokens (NFT) reached USD 15.54 billion in 2021 and is predicted to grow at a revenue CAGR of 34.2% over the following five years. A few of the major factors propelling market revenue growth include the growing popularity of block-chain and metaverse-based gaming, as well as digital assets and collectibles.

A type of cryptographic asset known as NFTs stands for unique value units. The fact that each unit can be exchanged for another distinguishes them from other fungible tokens like Bitcoin and Ethereum. They are therefore perfect for displaying digital assets like collectibles, artwork, game items, or real estate, which is driving the market's expansion. Virtual homes and other digital assets in the Metaverse are becoming increasingly expensive, making them a great option for investors seeking a high Return On Investment (ROI). By offering various metaverse-related services, people can start making money without necessarily investing in digital assets.

Since 2014, they have existed as distinct digital goods that can be purchased and traded online using cryptocurrencies. NFTs are designed to show who owns a particular digital item (typically a digital artwork). They are upending industries all over the world, including those in the arts, gaming, events, and insurance. NFTs have been "minted" and promoted by famous people in sports, entertainment, the arts, technology, and large consumer businesses. Despite the fact that artists have long worked in other digital mediums, NFTs open up a new vista for the fine art industry.

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In summary, our 250-page report provides you with the following knowledge:

• Revenue forecasts to 2030 for Non Fungible Token Market, 2022 to 2030 Market, with forecasts for include report segmentation and company size, each forecast at a global and regional level – discover the industry’s prospects, finding the most lucrative places for investments and revenues.

• Revenue forecasts to 2030 for four regional and 20 key national markets – See forecasts for the Non Fungible Token Market, 2022 to 2030 market in North America, Europe, Asia-Pacific and LAMEA. Also forecasted is the market in the US, Canada, Mexico, Brazil, Germany, France, UK, Italy, China, India, Japan, and Australia among other prominent economies.

• Prospects for established firms and those seeking to enter the market – including company profiles for 15 of the major companies involved in the Non Fungible Token Market, 2022 to 2030.

North America, Latin America, Asia-Pacific, Europe, and the Middle East and Africa are listed as the regions segmented (MEA). Based on regional analysis, it is predicted that the Asia-Pacific region will grow at the fastest rate from 2022 to 2030. The introduction of non-fungible tokens in the area is just one of several recent developments that can be linked to the region's explosive growth. The non-fungible token is gaining acceptance in a number of Asia-Pacific nations, including China, India, and Japan. On the other hand, in terms of regional segmentation, North America raked in the most money from the non-fungible token market. The region is expected to experience market growth due to an increase in digital art, robust development, and cryptocurrency adoption.

Some major companies in the global market report include: ScienceSoft USA Corporation, Innowise Group, Inoru, Zfort Group, Blockchain App Factory, Brugu, Chaincella, AppDupe, Crypto.com, and Ozone Networks, Inc.

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An Emergen Research report of 250 pages features 194 tables, 189 charts, and graphics. Our new study is ideal for anyone who wants to learn about the global Non Fungible Token market commercially and deeply, as well as to analyze the market segments in depth. With the help of our recent study, you can analyze the entire regional and global market for Non Fungible Token. To increase market share, you must obtain financial analysis of the entire market and its segments. Our research suggests there are significant opportunities in this rapidly expanding market for energy storage technology. Look at how you might take advantage of these revenue-generating opportunities. Additionally, the research will help you develop growth strategies, strengthen competitor analysis, and improve business productivity by enabling you to make better strategic decisions.

According to our analysis, the non-fungible market share was dominated by the digital asset segment in 2021, and this trend is predicted to continue from 2022 to 2030. The digital sector is now where NFTs are most frequently used. A social media platform that allows artists to post their work earns money by offering advertisements to the artist's subscribers in exchange for exposure. The growth of the category is being fueled by NFTs, which enable a new dynamic market where content producers retain ownership of their work rather than giving it to platforms for promotion.

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The global Non-Fungible Token (NFT) market has been divided into segments based on category, application, and region by Emergen Research:

Category Outlook (Revenue, USD Billion; 2019-2030)

Collectibles

Utility

Art

Metaverse

Game

Others

Application Outlook (Revenue, USD Billion; 2019-2030)

Real estate

Medical

Academic

Gaming

Music & art

Supply chain

Voting

Others

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