Major factors fueling the growth momentum of NFT include the growing influence of celebrities for the adoption of NFT, the revolution in the gaming industry, and the slow but steady increase in demand for digital artwork , etc.
New York, May 13, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Non-Fungible Tokens Market by Supply, End User, Region – Global Forecast to 2027” – https://www.reportlinker. com/p06277261/?utm_source=GNW
NFT marketplaces are expected to grow at a higher CAGR during the forecast period
Unorganized platforms provide free access to creators, unlike organized platforms, which have a strict creator screening policy. NFT platforms such as SuperRare and Nifty gateway, creators must apply a form with strict selection criteria and a long waiting period for the experts’ decision.
This is why unorganized platforms have been widely accepted by creators to sell their digital assets. To expand their growth, various organizations are entering the NFT space.
For example, Coinbase Global Inc, an American crypto exchange, launched its NFT marketplace very recently. Developments like this have contributed to the growth of the NFT market.
In the regional segment, the Americas will have a higher market share during the forecast period
The Americas are expected to be the largest contributor in terms of market size in the global NFT market. US companies are investing in NFTs despite the lack of strict laws, accounting rules and disclosure requirements.
KPMG Canada has purchased a digital artwork of the “World of Women” NFT after its corporate treasury made its inaugural investment in cryptocurrency. An American company, OpenSea, unlike other platforms, does not charge a fee for minting NFTs.
The platform charges a payment on the final sale price, which is currently 2.5%. With the OpenSea platform seeing huge success in 2021, the business model looks viable and is a great option for young NFT producers to get started. Organizations come up with many developments and partnerships to explore and educate people about the trends and uses of NFTs to help them monetize their work. Major companies such as OpenSea, Larva Labs, Cloudflare, and Dapper Labs are headquartered in North America. Investments and creations similar to these are motivating artists to be a part of this booming NFT world which can be a major driver for the growth of the NFT market.
The study contains insights from various industry experts ranging from component suppliers to Tier 1 companies. The breakdown of the primaries is as follows:
• By type of business: Level 1: 35%, Level 2: 45% and Level 3: 20%
• By designation: C-level executives – 35%, administrators – 25% and others – 40%
• By region: North America – 45%, Europe – 20%, APAC – 30% and Rest of the world – 5%
The major vendors offering the NFT Market across the globe are Cloudflare (USA), Gemini Trust (USA), OpenSea (USA), Semidot Infotech (USA), Dapper Labs (Canada), The Sandbox (China), Axie Infinity (Vietnam), Rarible (USA), Art Blocks (USA), Foundation (USA), Superrare (USA), Mintbase (Portugal), Larva Labs (USA) ), Appdupe (India), CryptoKitties (Canada), Sorare (France), Yellow Heart (USA), Onchain Labs (China), Solanart (France), Gala Games (USA)
The study includes an in-depth competitive analysis of major players in the NFT market, along with their company profiles, recent developments, and key market strategies.
The market study covers the NFT market size across all segments. It aims to estimate the market size and the growth potential of this market on different segments: by offer, by end users and by region.
The study also includes an in-depth competitive analysis of key market players along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Key Benefits of Purchasing the Report
The report will help market leaders/new entrants in this market with information on the closest approximations of revenue figures for the overall NFT market and sub-segments. This report will help stakeholders understand the competitive landscape and acquire more information to better position their businesses. and plan appropriate go-to-market strategies.
The report also helps stakeholders understand the pulse of the market and provides them with insights into key market drivers, restraints, challenges, and opportunities.
Read the full report: https://www.reportlinker.com/p06277261/?utm_source=GNW
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