with the global non-fungible token (NFT) a will reach USD 50.10 billion by 2021 and is expected to register a revenue CAGR of 10.7% during the forecast period, according to the latest analysis from Emergen Research. Rapid traction in the metaverse and growing demand for decentralized markets are some of the key factors driving revenue growth in the global market of unavailable tokens. The growing use of NFT for domain name ownership is also expected to boost market revenue growth. Blockchain domain owners can use private keys to manage individual domains.
The Domain Name Service (DNS) standard is regulated by the Internet Corporation for Assigned Names and Numbers (ICANN), and the management of these domains is very limited. Thus issues of censorship and security were raised. Blockchain domain names are permanently registered in a public register and can be removed or changed by a third party, which helps alleviate these concerns. Blockchain domain NFTs enable fast trading and customizable domain names. Ethereum Name Service (ENS) and Unstoppable Domains, which are decentralized conventional DNS solutions, allow cryptographic addresses similar to Instagram or Twitter to handle, but each name must be different. While Instagram and Twitter users cannot sell their usernames, ENS and Unstoppable Domains allow users to buy and sell crypto addresses.
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The leading companies operating in the Non-Fungible Tokens market profiled in the report are:
- YellowHeart, Cloudflare, Inc., PLBY Group, Inc., Dolphin Entertainment, Inc., Funko Inc., OpenSea (Ozone Networks, Inc.), Takung Art Co., Ltd., Dapper Labs, Inc., Nifty Gateway (Gemini Trust Company, LLC) and MakersPlace (Onchain Labs, Inc.).
The report predicts that the market is expected to grow at a significant rate due to advances in attacks and technology. sector developments. The report offers strategic recommendations for companies and investors to take advantage of lucrative growth opportunities. The report further provides a comprehensive analysis of the competition landscape and provides comprehensive coverage of company profiles, product portfolio, revenue generation, financial situation, and market position. It also covers mergers and acquisitions, joint ventures, product launches, brand promotion, collaborations, agreements, and partnerships, and more. It also offers insights into manufacturing processes, revenue estimation, R&D progress, and industry entry.
Emergen Research divides the global non-fungible token market based on type, application, end-use, and region:
Outlook Type (Revenue, USD Billion; 2019-2030)
- Physical Asset
Outlook Application (Revenue, USD Billion; 2019–2030) Items
- music video music video
- pixel art
- Computer Made Painting
- /3D 2D/3D computer graphics
- Trading Card Game (TCG)
- Video game
- Strategy Role Playing Game (RPG)
- Domain names
- Ownership of property
End Use Outlook (Revenue, USD Billion; 2019-2030)
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The latest report on the Global Non-Fungible Tokens Market offers strategic insights into the market landscape for stakeholders, investors, and business owners to help them be effective and profitable. business decisions based on significant statistics. theoretical data and facts. The report aims to offer an in-depth insight into the Non-Fungible Tokens market based on various causal elements, such as market drivers, limitations, threats, restraint factors, and prospects of growth. The report aims to provide a comprehensive understanding of the Non-fungible Token market growth and expansion in every key region of the world. It offers accurate estimates of the expected market size and growth over the predicted period of 2020-2027.
Non-Fungible Token Market Segment By Region:
- North America (USA, Canada)
- Europe (UK, Italy, Germany, France, EU Rest)
- Asia-Pacific (India, Japan, China, South Korea, Australia, other parts of APAC)
- Latin America (Chile, Brazil, Argentina, Rest in Latin America)
- Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa, Rest of MEA)
- Study of Global Non-Fungible Token Market Size by Major Regions, Types and Applications with Reference to Historical (2017-2018) and Forecast (2020-2027) Data
- Analyzing the industry structure of the Non-Fungible Tokens market by identifying different sub-segments
- In-depth analysis of the major market players along with their SWOT Analysis
- comparing the competition scene
- Fungible Token Market analysis based on growth trends, futuristic prospects, and contribution to overall market growth
- Analyzing the Drivers, Prevention, Opportunities, Challenges, and Risks of the Global Non-Fungible Tokens Market
- Comprehensive analysis of competitive developments such as expansion, agreements, new product launches and other strategic alliances
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