According to the Q2 2022 NFT Survey, NFT industry in Mexico is expected to grow by 46.3% on an annual basis to reach US$1123.7 million in 2022.
The NFT industry is expected to grow steadily over the forecast period, recording a CAGR of 33.4% during 2022-2028. The NFT Spend Value in the country will increase from US$1123.7 million in 2022 to reach US$5777.4 million by 2028.
The non-fungible token (NFT) market is still in its early stages of development in Mexico. However, the growing popularity of the digital asset and the widespread adoption among the crypto community has driven the industry's growth over the last 12 months in the country. Several innovative NFT products have been launched over the last year, which has supported the market growth in Mexico.
Globally, several brands across different industry verticals have already entered the NFT space by launching their digital asset collectibles. These brands are using NFTs to better engage with their customers, drive brand awareness, and offer exclusive benefits to the owners.
The publisher expects similar trends to evolve in the Mexican NFT market over two to three years. Several brands have already started to mix NFT in their marketing strategies with increasing frequency. This trend is expected to intensify in the country from the short to medium-term perspective as the awareness and adoption among customers continue to grow in Mexico further. The publisher, therefore, expects the rising adoption of NFTs among brands to drive the future growth of the market in the country.
One such example is, Akumal, a small village in Mexico’s Yucatan peninsula region where things started to change when a local bakery owner, Jennifer Smith, launched Akumal Arts Festival in 2018.
Over the last 12 months, the NFT popularity has grown continuously. In the growing talks about NFTs in Mexico, music festivals have started to use NFTs as part of their marketing strategies. For instance,
Several global football clubs and players are entering the NFT space to launch their NFT collectibles. Notably, similar trends are visible in Mexico, wherein football clubs partner with global NFT platforms to launch their NFTs. For instance,
Because of its geographical location, Akumal, a small village in Mexico’s Yucatan peninsula region, most government funding for developmental projects failed to reach the village. This is why most of the region and the population remained underserved for many years. However, things started to change when a local bakery owner, Jennifer Smith, launched Akumal Arts Festival in 2018.
Amid the growing number of use cases, raising funds through NFTs is one of the most common. Many organizations globally are using NFTs to raise funds for non-profit organizations. Notably, similar trends are seen in Mexico, where cryptocurrency exchanges turn the famous Mexican game into a Solana-based NFT experience. For instance,
This report provides in-depth, data-centric analysis of NFT Market in Mexico and below is the summary of key market segments:
The NFT industry is expected to grow steadily over the forecast period, recording a CAGR of 33.4% during 2022-2028. The NFT Spend Value in the country will increase from US$1123.7 million in 2022 to reach US$5777.4 million by 2028.
The non-fungible token (NFT) market is still in its early stages of development in Mexico. However, the growing popularity of the digital asset and the widespread adoption among the crypto community has driven the industry's growth over the last 12 months in the country. Several innovative NFT products have been launched over the last year, which has supported the market growth in Mexico.
Globally, several brands across different industry verticals have already entered the NFT space by launching their digital asset collectibles. These brands are using NFTs to better engage with their customers, drive brand awareness, and offer exclusive benefits to the owners.
The publisher expects similar trends to evolve in the Mexican NFT market over two to three years. Several brands have already started to mix NFT in their marketing strategies with increasing frequency. This trend is expected to intensify in the country from the short to medium-term perspective as the awareness and adoption among customers continue to grow in Mexico further. The publisher, therefore, expects the rising adoption of NFTs among brands to drive the future growth of the market in the country.
Music festivals are using NFTs as part of their marketing strategies in Mexico
One such example is, Akumal, a small village in Mexico’s Yucatan peninsula region where things started to change when a local bakery owner, Jennifer Smith, launched Akumal Arts Festival in 2018.
Over the last 12 months, the NFT popularity has grown continuously. In the growing talks about NFTs in Mexico, music festivals have started to use NFTs as part of their marketing strategies. For instance,
- In March 2022, Cerveza Tecate Pa'l Norte, one of the largest music festivals in Mexico, announced the creation and sale of NFTs. Notably, the NFTs, created specifically for the event and loaded with lifetime benefits for the owners, was part of Cerveza Tecate's marketing strategy. Football leagues are launching NFT collectibles to generate a new source of income amid the pandemic impact on revenue
- In April 2021, Liga MX, the top soccer league in the country, announced that it would launch the NFT collection at the beginning of the 21’/22′ season, which was slated to start at the end of August 2021. To launch its NFT collection, Liga MX entered into a strategic collaboration with Bondly, the NFT marketplace which auctioned the NFTs.
- Notably, Liga MX is one of the first soccer leagues to launch NFT collectibles. Globally, several individual teams have entered the NFT space and announced the sales of their collectibles.
Football clubs are entering into strategic partnerships with NFT platforms to launch NFT collectibles
Several global football clubs and players are entering the NFT space to launch their NFT collectibles. Notably, similar trends are visible in Mexico, wherein football clubs partner with global NFT platforms to launch their NFTs. For instance,
- In February 2022, the Atlas Futbol Club announced that the club has entered into a strategic partnership with Sorare, the French NFT platform, allowing fans to trade NFT cards of their favorite players.
- Under the collaboration with Sorare, the Atlas Futbol Club has launched an Atlas F.C. NFT auction, which comprises NFT cards of star players, including Luciano Acosta, Jairo Torres, and Martin Nervo, among others.
- With its partnership with Sorare, the Atlas Futbol Club became the second from Mexico to join the long list of established teams entering the digital asset collectibles market globally.
NFTs are helping communities to rebuild an underserved Mexican village
Because of its geographical location, Akumal, a small village in Mexico’s Yucatan peninsula region, most government funding for developmental projects failed to reach the village. This is why most of the region and the population remained underserved for many years. However, things started to change when a local bakery owner, Jennifer Smith, launched Akumal Arts Festival in 2018.
Cryptocurrency exchanges are turning popular Mexican games into a Solana-based NFT experience
Amid the growing number of use cases, raising funds through NFTs is one of the most common. Many organizations globally are using NFTs to raise funds for non-profit organizations. Notably, similar trends are seen in Mexico, where cryptocurrency exchanges turn the famous Mexican game into a Solana-based NFT experience. For instance,
- In October 2021, FTX, one of the leading cryptocurrency exchanges, announced that the firm is turning the famous Mexican game Loteria into an NFT-centric game on Solana. Notably, the firm stated that the funds from the project would benefit the non-profit organization. The non-profit organizations that will benefit from the project include the Hispanic Heritage Foundation, the Rising Tide Network, and Latino Community Foundation.
Scope
This report provides in-depth, data-centric analysis of NFT Market in Mexico and below is the summary of key market segments:
Mexico NFT Market Size and Future Growth Dynamics by Key Performance Indicators, 2019-2028
Mexico NFT Market Size and Forecast by Key Assets, 2019-2028
- Collectibles and Art
- Real Estate
- Sports
- Gaming
- Utility
- Fashion & Luxury
- Other
Mexico NFT Market Size and Forecast by Key NFT Collectible Assets, 2019-2028
- Digital Art
- Music & Sound Clip
- Videos
- Memes & Gif
- Other
Mexico NFT Market Size and Forecast by Currency, 2019-2028
- Ethereum
- Solana
- Avalanche
- Polygon
- BSC
- Flow
- Wax
- Ronin
- Other
Mexico NFT Market Size and Forecast by Sales Channels, 2019-2028
- Primary
- Secondary
Mexico User Statistics, 2019-2028
Reasons to buy
- Based on data and analysis, develop country-level strategies.
- Identify investment opportunities in growth segments.
- Exceed competition by incorporating forecast data as well as market trends.
- Use the relationships between major data sets with valuable insights to improve strategy.
- Appropriate for providing accurate, high-quality data and analysis to support internal and external presentations.
Table of Contents
1 About this Report1.1 Summary
1.2 Methodology
1.3 NFT Definitions
1.4 Disclaimer
2 Mexico NFT Market Size and Future Growth Dynamics by Key Performance Indicators
2.1 Mexico NFT - Total Sales Spend Value Trend Analysis, 2019 - 2028
2.2 Mexico NFT - Total Sales Spend Volume Trend Analysis, 2019 - 2028
2.3 Mexico NFT - Average Value Per Transaction Trend Analysis, 2019 - 2028
3 Mexico NFT Key Market Insight and Innovation
3.1 Consumer Behavior
3.2 Competitive Landscape and Growth Strategies
3.3 Regulation Trends
4 Mexico NFT Market Size and Forecast by Key Assets
4.1 Mexico NFT Market Share by Key Assets (%), 2021 Vs. 2028
4.2 Mexico NFT Collectibles and Art Trend Analysis, 2019 - 2028
4.3 Mexico NFT Real Estate Trend Analysis, 2019 - 2028
4.4 Mexico NFT Sports Trend Analysis, 2019 - 2028
4.5 Mexico NFT Gaming Trend Analysis, 2019 - 2028
4.6 Mexico NFT Utility Trend Analysis, 2019 - 2028
4.7 Mexico NFT Fashion and Luxury Trend Analysis, 2019 - 2028
4.8 Mexico NFT Other Assets Trend Analysis, 2019 - 2028
5 Mexico NFT Collectibles and Art Market Size and Forecast by Key Assets
5.1 Mexico NFT Collectibles and Art Market Share by Key Assets (%), 2021 Vs. 2028
5.2 Mexico NFT Collectibles and Art - Digital Art Spend Value Trend Analysis, 2019 - 2028
5.3 Mexico NFT Collectibles and Art - Music & Sound Clip Spend Value Trend Analysis, 2019 - 2028
5.4 Mexico NFT Collectibles and Art - Videos Spend Value Trend Analysis, 2019 - 2028
5.5 Mexico NFT Collectibles and Art - Memes & GIF Spend Value Trend Analysis, 2019 - 2028
5.6 Mexico NFT Collectibles and Art - Other Assets Spend Value Trend Analysis, 2019 - 2028
6 Mexico NFT Market Size and Forecast by Currency
6.1 Mexico NFT Market Share by Currency (%), 2021 Vs. 2028
6.2 Mexico NFT Currency Ethereum - Spend Value Trend Analysis, 2019 - 2028
6.3 Mexico NFT Currency Solana - Spend Value Trend Analysis, 2019 - 2028
6.4 Mexico NFT Currency Avalanche - Spend Value Trend Analysis, 2019 - 2028
6.5 Mexico NFT Currency Polygon - Spend Value Trend Analysis, 2019 - 2028
6.6 Mexico NFT Currency BSC - Spend Value Trend Analysis, 2019 - 2028
6.7 Mexico NFT Currency Flow - Spend Value Trend Analysis, 2019 - 2028
6.8 Mexico NFT Currency WAX - Spend Value Trend Analysis, 2019 - 2028
6.9 Mexico NFT Currency Ronin - Spend Value Trend Analysis, 2019 - 2028
6.10 Mexico NFT Other Currencies - Spend Value Trend Analysis, 2019 - 2028
7 Mexico NFT Market Size and Forecast by Key Sales Channels
7.1 Mexico NFT Market Share by Key Sales Channels (%), 2021 Vs. 2028
7.2 Mexico NFT Primary Market - Spend Value Trend Analysis, 2019 - 2028
7.3 Mexico NFT Secondary Market - Spend Value Trend Analysis, 2019 - 2028
8 Mexico User Statistics of Internet and Population, 2019 - 2028
8.1 Mexico Internet Users Trend Analysis, 2019 - 2028
8.2 Mexico Internet Penetration Rate, 2019 - 2028
8.3 Mexico Adult Population Trend Analysis, 2019 - 2028
9 Further Reading
9.1 About the Publisher
List of FiguresFigure 1: Methodology Framework
Figure 2: Mexico NFT - Total Sales Spend Value (US$ Million), 2019 - 2028
Figure 3: Mexico NFT - Total Sales Spend Volume (Thousands), 2019 - 2028
Figure 4: Mexico NFT - Average Value Per Transaction (US$), 2019 - 2028
Figure 5: Mexico NFT Market Share by Key Assets (%), 2021 Vs. 2028
Figure 6: Mexico NFT Collectibles and Art - Spend Value (US$ Million), 2019 - 2028
Figure 7: Mexico NFT Collectibles and Art - Spend Volume (Thousands), 2019 - 2028
Figure 8: Mexico NFT Collectibles and Art - Average Value Per Transaction (US$), 2019 - 2028
Figure 9: Mexico NFT Real Estate - Spend Value (US$ Million), 2019 - 2028
Figure 10: Mexico NFT Real Estate - Spend Volume (Thousands), 2019 - 2028
Figure 11: Mexico NFT Real Estate - Average Value Per Transaction (US$), 2019 - 2028
Figure 12: Mexico NFT Sports - Spend Value (US$ Million), 2019 - 2028
Figure 13: Mexico NFT Sports - Spend Volume (Thousands), 2019 - 2028
Figure 14: Mexico NFT Sports - Average Value Per Transaction (US$), 2019 - 2028
Figure 15: Mexico NFT Gaming - Spend Value (US$ Million), 2019 - 2028
Figure 16: Mexico NFT Gaming - Spend Volume (Thousands), 2019 - 2028
Figure 17: Mexico NFT Gaming - Average Value Per Transaction (US$), 2019 - 2028
Figure 18: Mexico NFT Utility - Spend Value (US$ Million), 2019 - 2028
Figure 19: Mexico NFT Utility - Spend Volume (Thousands), 2019 - 2028
Figure 20: Mexico NFT Utility - Average Value Per Transaction (US$), 2019 - 2028
Figure 21: Mexico NFT Fashion and Luxury - Spend Value (US$ Million), 2019 - 2028
Figure 22: Mexico NFT Fashion and Luxury - Spend Volume (Thousands), 2019 - 2028
Figure 23: Mexico NFT Fashion and Luxury - Average Value Per Transaction (US$), 2019 - 2028
Figure 24: Mexico NFT Other Assets - Spend Value (US$ Million), 2019 - 2028
Figure 25: Mexico NFT Other Assets - Spend Volume (Thousands), 2019 - 2028
Figure 26: Mexico NFT Other Assets - Average Value Per Transaction (US$), 2019 - 2028
Figure 27: Mexico NFT Collectibles and Art Market Share by Key Assets (%), 2021 Vs. 2028
Figure 28: Mexico NFT Collectibles and Art - Digital Art Spend Value (US$ Million), 2019 - 2028
Figure 29: Mexico NFT Collectibles and Art - Music & Sound Clip Spend Value (US$ Million), 2019 - 2028
Figure 30: Mexico NFT Collectibles and Art - Videos Spend Value (US$ Million), 2019 - 2028
Figure 31: Mexico NFT Collectibles and Art - Memes & GIF Spend Value (US$ Million), 2019 - 2028
Figure 32: Mexico NFT Collectibles and Art - Other Assets Spend Value (US$ Million), 2019 - 2028
Figure 33: Mexico NFT Market Share by Currency (%), 2021 Vs. 2028
Figure 34: Mexico NFT Currency Ethereum - Spend Value (US$ Million), 2019 - 2028
Figure 35: Mexico NFT Currency Solana - Spend Value (US$ Million), 2019 - 2028
Figure 36: Mexico NFT Currency Avalanche - Spend Value (US$ Million), 2019 - 2028
Figure 37: Mexico NFT Currency Polygon - Spend Value (US$ Million), 2019 - 2028
Figure 38: Mexico NFT Currency BSC - Spend Value (US$ Million), 2019 - 2028
Figure 39: Mexico NFT Currency Flow - Spend Value (US$ Million), 2019 - 2028
Figure 40: Mexico NFT Currency WAX - Spend Value (US$ Million), 2019 - 2028
Figure 41: Mexico NFT Currency Ronin - Spend Value (US$ Million), 2019 - 2028
Figure 42: Mexico NFT Other Currencies - Spend Value (US$ Million), 2019 - 2028
Figure 43: Mexico NFT Market Share by Key Sales Channels (%), 2021 Vs. 2028
Figure 44: Mexico NFT Primary Market - Spend Value (US$ Million), 2019 - 2028
Figure 45: Mexico NFT Secondary Market - Spend Value (US$ Million), 2019 - 2028
Figure 46: Mexico Internet Users Trend Analysis (Million), 2019 - 2028
Figure 47: Mexico Internet Penetration Rate (%), 2019 - 2028
Figure 48: Mexico Adult Population Trend Analysis (Million), 2019 - 2028
List of TablesTable 1: Mexico NFT - Total Sales Spend Value (US$ Million), 2019 - 2028
Table 2: Mexico NFT - Total Sales Spend Volume (Thousands), 2019 - 2028
Table 3: Mexico NFT - Average Value Per Transaction (US$), 2019 - 2028
Table 4: Mexico NFT Collectibles and Art - Spend Value (US$ Million), 2019 - 2028
Table 5: Mexico NFT Collectibles and Art - Spend Volume (Thousands), 2019 - 2028
Table 6: Mexico NFT Collectibles and Art - Average Value Per Transaction (US$), 2019 - 2028
Table 7: Mexico NFT Real Estate - Spend Value (US$ Million), 2019 - 2028
Table 8: Mexico NFT Real Estate - Spend Volume (Thousands), 2019 - 2028
Table 9: Mexico NFT Real Estate - Average Value Per Transaction (US$), 2019 - 2028
Table 10: Mexico NFT Sports - Spend Value (US$ Million), 2019 - 2028
Table 11: Mexico NFT Sports - Spend Volume (Thousands), 2019 - 2028
Table 12: Mexico NFT Sports - Average Value Per Transaction (US$), 2019 - 2028
Table 13: Mexico NFT Gaming - Spend Value (US$ Million), 2019 - 2028
Table 14: Mexico NFT Gaming - Spend Volume (Thousands), 2019 - 2028
Table 15: Mexico NFT Gaming - Average Value Per Transaction (US$), 2019 - 2028
Table 16: Mexico NFT Utility - Spend Value (US$ Million), 2019 - 2028
Table 17: Mexico NFT Utility - Spend Volume (Thousands), 2019 - 2028
Table 18: Mexico NFT Utility - Average Value Per Transaction (US$), 2019 - 2028
Table 19: Mexico NFT Fashion and Luxury - Spend Value (US$ Million), 2019 - 2028
Table 20: Mexico NFT Fashion and Luxury - Spend Volume (Thousands), 2019 - 2028
Table 21: Mexico NFT Fashion and Luxury - Average Value Per Transaction (US$), 2019 - 2028
Table 22: Mexico NFT Other Assets - Spend Value (US$ Million), 2019 - 2028
Table 23: Mexico NFT Other Assets - Spend Volume (Thousands), 2019 - 2028
Table 24: Mexico NFT Other Assets - Average Value Per Transaction (US$), 2019 - 2028
Table 25: Mexico NFT Collectibles and Art - Digital Art Spend Value (US$ Million), 2019 - 2028
Table 26: Mexico NFT Collectibles and Art - Music & Sound Clip Spend Value (US$ Million), 2019 - 2028
Table 27: Mexico NFT Collectibles and Art - Videos Spend Value (US$ Million), 2019 - 2028
Table 28: Mexico NFT Collectibles and Art - Memes & GIF Spend Value (US$ Million), 2019 - 2028
Table 29: Mexico NFT Collectibles and Art - Other Assets Spend Value (US$ Million), 2019 - 2028
Table 30: Mexico NFT Currency Ethereum - Spend Value (US$ Million), 2019 - 2028
Table 31: Mexico NFT Currency Solana - Spend Value (US$ Million), 2019 - 2028
Table 32: Mexico NFT Currency Avalanche - Spend Value (US$ Million), 2019 - 2028
Table 33: Mexico NFT Currency Polygon - Spend Value (US$ Million), 2019 - 2028
Table 34: Mexico NFT Currency BSC - Spend Value (US$ Million), 2019 - 2028
Table 35: Mexico NFT Currency Flow - Spend Value (US$ Million), 2019 - 2028
Table 36: Mexico NFT Currency WAX - Spend Value (US$ Million), 2019 - 2028
Table 37: Mexico NFT Currency Ronin - Spend Value (US$ Million), 2019 - 2028
