The global non-fungible token market is anticipated to grow significantly at a CAGR of 10.6% over the forecast period (2022-2028). Digital ownership is taking place over the web, and the society across the globe, are moving forward to make large strides toward integrating people with technology, non-fungible token is taking place from the physical world into the metaverse. Automobile manufacturers are increasingly entering the non-fungible space, which is projected to grow at the fastest rate by the end of the decade. For instance, in November 2021, Nissan GT-R non-fungible token recently sold for $2 million, and Rolls-Royce has entered into the virtual world of the non-fungible tokens, with an animated video. Moreover, Alpine has created the world’s first non-fungible token digital concept car. The initiatives done by the key market player has driven the growth of the non-fungible token market.
Further, in January 2022, GameStop Corp. launched a segment to develop a marketplace for non-fungible tokens, the company has hired more than 20 people to run the unit, which is building an online platform for buying, selling, and trading non-fungible tokens, of virtual video game collectibles such as avatar outfits, and weapons. Gamestop has launched its non-fungible token, website last year, and invited the creators to join the platform. In addition, in October 2021, ViacomCBS is partnering with the NFT company, Recur to bring iconic IP and franchises to the world of digital collectibles, which is going to start this year. Through this upcoming project, the company is going to create a place, where people can buy, collect, and trade non-fungible tokens. For instance, in January 2022, NFT investment, an incubator specializing in the market for no fungible tokens has agreed to the acquisition of Pluto Digital PLC. With this acquisition, the company creates a significant global metaverse company and makes advancements in the non-fungible token, as the Pluto ventures division has invested largely in non-fungible tokens and non-fungible token gaming.
Market Coverage
Competitive Landscape- Axie Infinity., Bacasable Global Ltd., Currency Works Inc., Oriental Culture Holding Ltd., Dolphin Entertainment., Wisekey International Holding Ltd and others.
Key questions addressed by the report
o Recovery Timeline
o Deviation from the pre-COVID forecast
o Most affected region/segment
Global Non-Fungible Token Market– Segmentation
By Type
By Application
Global Non-Fungible Token Market By by Region
North America
Europe
Asia-Pacific
Rest of the World