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Non-fungible Token Market Size Worth $211.72 Billion by 2030: Grand View Research, Inc.SAN FRANCISCO, May 4, 2022 /PRNewswire/ -- The global non-fungible token market size is expected to reach USD 211.72 billion by 2030, growing at a CAGR of 33.9% from 2022 to 2030, according to a new report by Grand View Research, Inc. The growing demand for digital art worldwide is one of the major factors driving the NFT (non-fungible token) market growth. Digital art is defined as the art that is displayed or created using digital technologies. Key Insights & Findings from the report:
Read 150-page market research report, "Non-fungible Token Market Size, Share & Trends Analysis Report By Type (Physical Asset, Digital Asset), By Application (Collectibles, Art, Gaming), By End Use, By Region, And Segment Forecasts, 2022 - 2030", published by Grand View Research. Non-fungible Token Market Growth & Trends The growing use of cryptocurrency globally is also anticipated to drive the growth of the market. This is because cryptocurrency is used by people to purchase digital assets. According to CoinMarketCap, as of February 2022, the total global capitalization of cryptocurrency is USD 1.76 trillion, making it equivalent to the world's 8th largest economy. The funding raised by NFT companies is also one of the major factors favoring the market growth. For instance, in March 2022, Magic Eden, an NFT marketplace, raised USD 27 million in a Series A round. The round was led by Paradigm, including grants from Solana Ventures and Sequoia. The company will use the funding for expanding its services and products. The COVID-19 pandemic is expected to impact the market positively over the forecast period. The restrictions imposed during the pandemic confined people to homes and limied their sources of income. As a result, NFT-based gaming platforms such as Axie Game have gained increased popularity as they help people earn income amid the COVID-19 pandemic. Non-fungible Token Market Segmentation Grand View Research has segmented the global non-fungible token market based on type, application, end use, and region: Non-fungible Token (NFT) Type Outlook (Revenue, USD Million, 2018 - 2030)
Non-fungible Token (NFT) Application Outlook (Revenue, USD Million, 2018 - 2030)
Non-fungible Token (NFT) End-use Outlook (Revenue, USD Million, 2018 - 2030)
Non-fungible Token (NFT) Regional Outlook (Revenue, USD Million, 2018 - 2030)
List of Key Players in the Non-fungible Token (NFT) Market · YellowHeart, LLC.
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Browse through Grand View Research's Next Generation Technologies Industry Research Reports. About Grand View Research Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead. Contact: Logo: https://mma.prnewswire.com/media/661327/Grand_View_Research_Logo.jpg |