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Non-Fungible Tokens (NFT): Global MarketNEW YORK, Nov. 7, 2022 /PRNewswire/ -- Report Scope: - A relevant patent analysis on NFTs with significant allotments of patent data across each major category - Identification of the major stakeholders and analysis of the competitive landscape based on recent developments and segmental revenues - Company profiles of major players within the industry, including Cloudflare, Inc.; Foundation Inc.; Gemini Trust Company, LLC; OpenSea and Rarible Summary: In this report, BCC Research examines the way in which the NFTs market is changing and how it has evolved.This analysis includes a detailed survey of new organizations in the market as well as existing organizations. At the industry level, BCC Research identifies, examines, describes, and provides global and regional market sizes for 2021 and forecasts demand from 2022 through 2027.The global market for NFTs was estimated to be $REDACTED billion in 2021. It is projected that the NFTs market will grow at a CAGR of REDACTED% and is forecast to reach $REDACTED billion by 2027. The global market for NFTs has been segmented based on market type, asset type, product type, end user, and geography. NFTs experienced a rapid rise in 2021, but this growth hasn’t been steady and has plateaued so far in 2022.Companies including McDonald’s and Coca-Cola, as well as Gucci and Ray-Ban, started to provide NFTs. The game sector being revolutionized, the slow but steady rise in demand for digital artworks, and celebrities’ growing influence in the market are the main drivers of NFT acceptance. Additionally, NFT suppliers will benefit financially from growing applications of NFT in supply chain management, retail, and fashion, as well as from industry titans’ attempts to make the Metaverse a reality and from the personalization of NFTs. The NFT market is driven by the following attributes - - Heterogenous asset. - High market transparency. - NFTs are verifiable. - Market availability 24/7. - Low liquidity. - Relatively high transaction cost. - Price evaluation is not objective. The Metaverse is a concept for a virtual environment accessible over the internet where users can interact with digital objects using augmented reality (AR), virtual reality (VR), and extended reality (ER) (XR).Hence, the metaverse is projected to be an emerging opportunity for the overall NFTs market during the forecast period. NFT transactions are linked to expensive and undetected gas fees which has been hindering the market growth. In addition, the volatility of prices, negative environmental impacts, and fraud concerns are also among the factors which are restraining the market growth during the forecast period. Read the full report: https://www.reportlinker.com/p06360903/?utm_source=PRN About Reportlinker ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place. __________________________ Contact Clare: [email protected] US: (339)-368-6001 Intl: +1 339-368-6001 View original content:https://www.prnewswire.com/news-releases/non-fungible-tokens-nft-global-market-301670115.html SOURCE Reportlinker |