Non-Fungible Token Market is valued at USD 55.46 billion in 2022 and is projected to reach a value of USD 125.07 billion in 2030 expanding at a CAGR Press J to jump to the feed. The Non-Fungible Token Market report is the most important research for those who seek complete information on the Non-Fungible Token market. We investigate the interrelationships between NFT sales, NFT users (unique active blockchain wallets), and the pricing of Bitcoin and Ether. Prominent sport organizations have embraced NFTs for innovative growth opportunities such as generating revenue via novel digital products (e.g . Douglas Insights is among the world's first comparison search engines and has yet again expanded to include the market trends, opportunities, restraints, driving factors, and projections for the Non-Fungible Token (NFT) market.Douglas Insights' comprehensive report can be utilised by industry professionals . NFT has widely attracted attention, and its protocols, standards, and applications are developing exponentially. This symbolizes "value" and "scarcity" with respect to blockchain technology. NFTs are used to record ownership of both physical and digital goods. Because they cannot be replicated, they represent something unique and special. The global Non-Fungible Token (NFT) market size is projected to reach US$ 7.63 billion by 2028, from US$ 1.59 billion in 2021, at a CAGR of 22.05% during 2022-2028. For instance, every diamond has a distinct cut, color, size and grade. Doodles, an Ethereum-based collection of 10,000 algorithmically-generated colorful Web3 PFP NFTs, sold out within minutes of its mint last year. Abstract. Non-fungible tokens (NFTs) are transferrable rights to digital assets, such as art, in-game items, collectables or music. An NFT or "non-fungible token" comprises data stored or accounted for in a digital ledger and represents something specific. Illustration of a non-fungible token generated by a smart contract (a program designed to automatically execute contract terms) A non-fungible token (NFT) is a unique digital identifier that cannot be copied, substituted, or subdivided, that is recorded in a blockchain, and that is used to certify authenticity and ownership. NFTs are bought and . While the subject area of research that discusses the most Non-Fungble Token is Computer Science (N = 54). Non-fungible is an economic term that you could use to describe things like your furniture, a song file, or your computer. Here non-fungible tokens refer to those with unique and non-substitutable properties. Based on the results, the research trend over Non Fungible Token is related to 2 cluster which is about The global Non-Fungible Token (NFT) market size is projected to reach multi million by 2028, in comparision to 2021, at unexpected CAGR during 2022-2028 (Ask for Sample Report). Brief Introduction on Non-Fungible Tokens. These new markets for digital assets grew to about $550m of lifetime total traded volume towards the end of March 2021, but over $200m of that trade happened in the month of March alone. Introduction. Abstract: This project explores a type of cryptoasset, the non-fungible token (NFT), or what we call the crypto collectible.It explains the concept of the NFT and illustrates how it works through the best-known NFTs, CryptoKitties, a phenomenon of an asset within the Ethereum-based CryptoKitties game. On the other hand, one Bitcoin can be traded for anotherthey are interchangeable. Research Overview. The popularity of the Non-Fungible Token (NFT) has risen rapidly since 2020, becoming one of the most popular applications in the Fintech field. NFTs are unique units of data recorded on a permanent ledger or blockchain. December 2021. These tokens may shape an alternative space of blockchain development and exchange going forward. Initially started as an art/game experiment, the NFT has given rise to a new form of entrepreneurship in the virtual world with massive . Considering the items of the Preferred Reporting Items for Systematic Reviews and Meta-Analyses (PRISMA), this paper conducts a systematic review of the . . Unlike cryptocurrencies that also use the blockchain network for ownership verification, one NFT cannot be directly exchanged with another NFT. The popularity of the Non-Fungible Token (NFT) has risen rapidly since 2020, becoming one of the most popular applications in the Fintech field. Anything can become an NFTa piece of art, sports memorabilia, or even a tweet. However, research into the entrepreneurial aspect of NFTs and the role of agency in the process is limited. The count ry with the most Non -Fungible Token keyword research is the United States (N=14). The market analysis contains information on import and export volumes, production growth rates, and the key players in each regional market. Non-fungible tokens (NFTs) are a new innovation in the blockchain/cryptocurrency space that enables you to track who owns a particular asset. Global Non-Fungible Token (NFT) Market Research Report 2022 report is published on April 7, 2022 and has 86 pages in it. Considering the items of the Preferred Reporting Items for Systematic Reviews and Meta-Analyses (PRISMA), this paper conducts a systematic review of the . Emergen Research has segmented the global non-fungible token market on the basis of type, application, end-use, and region: Type Outlook (Revenue, USD Billion; 2019-2030) Physical Asset A pioneer in the non-fungible token ecosystem. The best way to understand non-fungible tokens is to look at fungible assets. The global COVID-19 pandemic has been unprecedented and staggering, with non-fungible token (NFT) experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. Established in 2018, we track transactions of decentralized assets in real-time on the Ethereum blockchain and we provide tools to help NFT enthusiasts, whales & professionals monitor the evolution of the NFT market and the sales history of any asset or project to help you evaluate their current . Non-Fungible Token (NFT) market is segmented by players, region (country), by Type and by Application. Non-Fungible Tokens (NFT) Software Market Scope & Overview Report 2022. Grand View Research has segmented the global non-fungible token market report based on type, application, end use, and region: Type Outlook (Revenue, USD Million, 2018 . Non-Fungible Tokens or NFTs, you have probably heard about them. NFTs shift the crypto paradigm by making each token unique and irreplaceable, thereby making it impossible for one non-fungible token to be equal to another. The ownership of an NFT is recorded in the blockchain and can be . PAGE 1 21RM009 LSO RESEARCH AND EVALUATION DIVISION 200 W. 24th Street Cheyenne, Wyoming 82002 TELEPHONE 307-777-7881 EMAIL lso@wyoleg.gov WEBSITE www.wyoleg.gov Research Memorandum WYOMING LEGISLATIVE SERVICE OFFICE NON-FUNGIBLE TOKENS (NFTS) May 2021 by Clarissa Nord, Associate Research Analyst Elliott Browning, Staff Attorney Non-fungible tokens (NFTs) have gained considerable media attention and sparked growing public interest. LONDON, Nov. 11, 2021 /PRNewswire/ -- According to Brandessence Market research noted a growth of 328% in NFT transactions during the first half of 2021, and third quarter of 2021. Non fungible Token (NFT) Market, Global Outlook and Forecast 2022-2030 is latest research study evaluating the market risk side analysis, highlighting opportunities and leveraged with strategic . It covers Global market data and forecasts. Non-Fungible Token (NFT) : Market Research Report with Comparison - Douglas Insights. According to Merriam-Webster, a fungible item is an object that an individual can easily replace with another object with . . Non-fungible Token Market Research Report by Type (Digital Asset and Physical Asset), Offering, Application, End-Use, Region (Americas, Asia-Pacific, and Europe, Middle East & Africa) - Global . NFT stands for non-fungible token. An NFT is a non-fungible token, which means that it is an item that is so unique that it can not be interchanged with another item, versus for example a dollar being equally interchangeable with . However, there has so far been no attempt to perform a systematic review in this new area. According to the latest analysis by Emergen Research, the global non-fungible token (NFT) market size is expected to reach USD 130.35 billion in 2030, registering a steady revenue CAGR of 10.7% during the forecast period, 2021-2030. Powered by ERC -721, an Ethereum-based indivisible smart contract, a non-fungible token is a cryptographic token that is unique for individual intellectual property tracing. Non-fungible tokens (NFTs) have taken the world by storm. Non-Fungible Token Market size was $14.02 billion in 2022, and is anticipated to grow to a value of more than $82.43 billion by 2030, registering a growing CAGR (Compound annual growth rate) of over 40% from 2022 to 2030. Players, stakeholders, and other participants in the global Non-Fungible Token (NFT) market will be able to gain the upper hand as they use the report as a powerful resource. Likewise, research predicts that Metaverse-based Non-fungible Token transactions will increase in 5 years. Market Research Report Summary. Devanand D.V who is currently pursuing the Global Risk Management Institute's (GRMI) post-graduate diploma in risk management (PGDRM) course, Conducted a research study on " NON FUNGIBLE TOKEN (NFT) ". Being non-fungible means a particular NFT has a unique value. Non-fungible means that it is unique and can not be replaced or replicated. 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. Non-Fungible Tokens are easily exchangeable and individually unique digital assets which are held on certain block-chains, mainly Ethereum but also others such as Matic, Flow, Wax, and others. NFT stands for Non-Fungible Token. Author: Alan Majer Release Date: August 30, 2019. All of this research serves to encourage tech companies in Europe or elsewhere in the world to invest in NFTs. He has that urge to research on versatile topics and develop high-quality content to make it the best read . The Global Non-fungible Token Market size is expected to reach $97.6 billion by 2028, rising at a market growth of 31.6% CAGR during the forecast period. Non-fungible tokens are digital assets written on smart contracts. These things are not interchangeable for other items because they have unique properties. Non fungible simply means something which is unique and cannot be exchanged for another item. By Andres Guadamuz, Senior Lecturer in Intellectual Property Law, University of Sussex, United Kingdom. Global Non-fungible Token (NFT) market size reached USD 50.10 Billion in 2021 and is expected to register a revenue CAGR of 10.7%, during the forecast period, Rapid traction of metaverse and rising . The research report titled "Non fungible Token Market, Business and Opportunity Analysis" published by Datavagyanik presents a detailed analysis of the Non fungible Token Market with country-wise market statistics, qualitative insights, and market player analysis. Examples include diamonds and original works of art. Non-fungible tokens (NFTs) and copyright. NFT's are exploding in popularity and getting mainstream attention and adoption, so here are the NFT statistics for 2022 to keep you informed . The demand for art NFTs is growing as they enable artists to track all work . The Non-Fungible Token (NFT) market is mushrooming in the recent couple of years. Non-fungible Token Market Research Report by Type, Offering, Application, End-Use, State - United States Forecast to 2027 - Cumulative Impact of COVID-19 Given the NFT market emerged out of cryptocurrencies, we explore if NFT pricing is related to . This raises fascinating questions about "value" and "scarcity" with respect to blockchain technology, through a prism of non-fungibility of a . In other words, non-fungible tokens are one-of-a-kind digital files, and the information, or metadata, that backs the NFT is logged on a blockchain. A difference between an NFT and a cryptocurrency is that a non-fungible token cannot be substituted by anotherit is truly unique, like a social security number or the original Mona Lisa. Non-fungible token (NFT) markets emerged to some prominence in early 2021. The global non-fungible token market size was valued at USD 15.54 billion in 2021 and is expected to grow at a compound annual growth rate (CAGR) of 33.9% from 2022 to 2030. . Non-Fungible Token (NFT) By Devanand DV, PGDRM Jan'22-23. The growing demand for digital art worldwide is one of the major factors driving the NFT (non-fungible token) market growth. The growing Non-Fungible Token market size, due to growing number of transactions in the NFT marketplace remains the defining trend of growth. NEW YORK, July 20, 2022 /PRNewswire/ -- The non-fungible token (NFT) market is growing at a CAGR of 35.27% and is expected to register an incremental growth of USD 147.24 billion between 2021 and . Non-fungible tokens or NFTs are unique digital assets that are based on blockchain technology. Before pursuing a career in risk management in India, Devanand completed his Bachelor of Business Administration from . It is unique, irreplaceable and non-interchangeable. They have also enabled HUMANS often labeled as . Initially started as an art/game experiment, the NFT has given rise to a new form of entrepreneurship in the virtual world with massive opportunities and affordances. The term "NFTs" stands for "non-fungible tokens" which individuals will mostly find on a digital space, such as a crypto blockchain. Non-Fungible Tokens ("NFTs") are best defined as a type of digital asset existing on a blockchain representing ownership in a digital .