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Growing popularity of blockchain-based gaming and metaverse is a key factor driving Non-Fungible Token (NFT) market revenue growth

VANCOUVER, BRITISH COLUMBIA, CANADA, April 5, 2023 /EINPresswire.com/ -- The global Non-Fungible Token (NFT) market size reached USD 15.54 Billion in 2021 and is expected to register a revenue CAGR of 34.2% during the forecast period, according to latest analysis by Emergen Research. Rising popularity of metaverse and block-chain based gaming in addition to digital assets and collectibles are a few of the key factors driving market revenue growth.

NFTs are a sort of cryptographic asset that represents one-of-a-kind value units. They differ from other fungible tokens, such as Bitcoin and Ethereum, in that each unit is replaceable with another. As a result, they are ideal for representing digital assets such as collectibles, art, game items, or real estate which is increasing the growth of market. Digital assets in the Metaverse, such as virtual homes, are becoming more and more expensive, making them a great choice for investors looking for a good Return On Investment (ROI). Individuals can start making money without necessarily investing in digital assets by providing various metaverse-related services. Investors have the opportunity to take part in cutting-edge technologies including Virtual Reality (VR), blockchain, Non-Fungible Tokens (NFTs), Augmented Reality (AR), and cryptocurrency through the metaverse. Growing popularity of metaverse is driving the cost of digital assets, creating the possibility of profits which is one of the key factors boosting the revenue growth of market.

 The Revenue Forecast in 2030: USD 214.57 Billion

CAGR: (2022-2030) 34.2%

Historical Data: 2019-2020

Customization Scope: 10 hrs. of Free customization and expert consultation

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Some of the companies competing in the Non Fungible Token Market:

ScienceSoft USA Corporation, Innowise Group, Inoru, Zfort Group, Blockchain App Factory, Brugu, Chaincella, AppDupe, Crypto.com, and Ozone Networks, Inc.

The report scrutinizes different business approaches and frameworks that pave the way for success in businesses. The report used expert techniques for analyzing the Non Fungible Token Market; it also offers an examination of the global market. To make the report more potent and easy to understand, it consists of infographics and diagrams. Furthermore, it has different policies and development plans which are presented in summary. It analyzes the technical barriers, other issues, and cost-effectiveness affecting the market.

The report bifurcates the Non Fungible Token market on the basis of different product types, applications, end-user industries, and key regions of the world where the market has already established its presence. The report accurately offers insights into the supply-demand ratio and The report is segmented according to usage wherever applicable and the report offers all this information for all major countries and associations. It offers an analysis of the technical barriers, other issues, and cost-effectiveness affecting the market. Important contents analyzed and discussed in the report include market size, operation situation, and current & future development trends of the market, market segments, business development, and consumption tendencies. Moreover, the report includes the list of major companies/competitors and their competition data that helps the user to determine their current position in the market and take corrective measures to maintain or increase their share holds.

Emergen Research has segmented global Non-Fungible Token (NFT) market on the basis of category, application, and region:

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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What Questions Should You Ask before Buying a Market Research Report?

• How is the Non Fungible Token-market evolving?

• What is driving and restraining the Non Fungible Token market?

• How will each Non Fungible Token submarket segment grow over the forecast period and how much revenue will these submarkets account for in 2030?

• How will the market shares for each Non Fungible Token submarket develop from 2022 to 2030?

• What will be the main driver for the overall market from 2022 to 2030?

• Will leading Non Fungible Token markets broadly follow the macroeconomic dynamics, or will individual national markets outperform others?

• How will the market shares of the national markets change by 2030 and which geographical region will lead the market in 2030?

• Who are the leading players and what are their prospects over the forecast period?

• What are the Non Fungible Token projects for these leading companies?

• How will the industry evolve during the period between 2020 and 2030? What are the implications of Non Fungible Token projects taking place now and over the next 10 years?

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About Us:

Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyse consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

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Non Fungible Token Market Size Worth USD 214.57 Billion in 2030

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