This Non-fungible Token report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
The non-fungible token market size has grown exponentially in recent years. It will grow from $43.08 billion in 2024 to $61.01 billion in 2025 at a compound annual growth rate (CAGR) of 41.6%. The growth in the historic period can be attributed to digital art boom, celebrity and brand endorsements, crypto enthusiast participation.
The non-fungible token market size is expected to see exponential growth in the next few years. It will grow to $247.41 billion in 2029 at a compound annual growth rate (CAGR) of 41.9%. The growth in the forecast period can be attributed to broader tokenization of assets, integration with gaming, NFT marketplaces and infrastructure, regulatory clarity, and enhanced interoperability. Major trends in the forecast period include blockchain technology advancements, metaverse development, brand partnerships and collaborations, royalty and resale mechanisms.
The rising demand for digital artwork is anticipated to drive the growth of the non-fungible token (NFT) market in the upcoming years. Digital art refers to art that is created or displayed using digital technology. Artists appreciate non-fungible tokens because they provide validation and uniqueness for the blockchain representation of their creations. For example, in 2024, data from the U.S. indicated that the estimated global cryptocurrency ownership averaged 6.8%, with over 560 million crypto owners worldwide. Thus, the increasing demand for digital artwork is fueling the expansion of the non-fungible token market.
The expanding online gaming industry is projected to boost the growth of the non-fungible token (NFT) market in the future. The online gaming industry, often referred to as the video game industry, includes various activities related to digital gaming, such as development, publishing, distribution, and monetization of video games played online. NFTs are unique digital assets based on blockchain technology that signify ownership of a specific item, character, or element within a video game. These NFTs can be utilized across multiple games or virtual worlds that adhere to the same blockchain standards. This interoperability enables players to use their NFTs in different games, thereby enhancing the utility and value of these assets. For instance, as reported by Invest India, a national investment promotion and facilitation agency in India, online gaming revenue rose by 28% in 2021 to $1.2 billion and is expected to reach $1.9 billion by 2024. Consequently, the growth of the online gaming industry is driving the expansion of the non-fungible token market.
Major companies in the non-fungible token (NFT) market are concentrating on developing technological advancements like NFT marketplaces to facilitate the buying, selling, and trading of digital assets while improving user experience and security. Non-fungible tokens represent ownership of unique digital assets, including art, music, and collectibles. For example, in July 2022, GameStop, a U.S.-based company known for its retail gaming and electronics stores, made strides in the video game industry. NFT marketplaces are designed to enhance the experiences of both creators and collectors, often allowing creators to establish royalties that enable them to earn a percentage from future sales of their work, thereby promoting ongoing value for artists.
Major companies in the non-fungible token (NFT) market are prioritizing the development of technological advancements such as Rakuten NFT to enhance digital asset trading, improve user experience, and increase the accessibility of NFTs across various sectors, including entertainment, gaming, and art. The Rakuten NFT platform enables users to create, buy, sell, and trade NFTs, utilizing Rakuten's extensive ecosystem to facilitate digital asset trading. For example, in February 2022, Rakuten, a Japan-based e-commerce and technology company, offered a broad range of services, including online retail, digital payments, cloud services, and telecommunications. Rakuten NFT features an intuitive interface for creating, purchasing, and selling non-fungible tokens, provides a variety of digital collectibles, and equips creators with tools to set royalties on future sales, ensuring ongoing value for artists and enhancing user community engagement.
In December 2023, Mobile Premier League (MPL), an India-based online gaming company, acquired Good Game Exchange (GGX) for an undisclosed amount. This acquisition will facilitate smoother NFT trading and asset exchange across games while offering developers monetization opportunities through GGX's toolkit, thereby enhancing the gaming ecosystem for both players and creators. Good Game Exchange (GGX) is an India-based mobile gaming company that specializes in the non-fungible token (NFT) trading space.
Major companies operating in the non-fungible token market include SemiDot Infotech, Blockchain App Factory, Cineverse Corp., Funko Inc., Liquid Media Group Ltd., Oriental Culture Holding Ltd., Takung Art Co. Ltd., WISeKey International Holding Ltd., OpenSea, Rarible Inc., Sky Mavis, Cloudflare Inc., Dapper Labs Inc., Dolphin Entertainment Inc., Gemini Trust Company LLC., Onchain Labs Inc., Ozone Networks Inc., PLBY Group Inc., YellowHeart LLC, TSB Gaming Ltd., Larva Labs, SuperRare Labs, Mintbase Inc., Sorare SAS, Solanart, Gala Inc., Animoca Brands Corporation Ltd., AppDupe, KnownOrigin Labs Limited.
North America was the largest region in the non fungible token market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the non-fungible token market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the non-fungible token market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.
Non-fungible tokens (NFTs) are cryptographic assets on the blockchain distinguished by unique authentication codes and metadata that set them apart from one another. These tokens play a pivotal role in representing digital assets.
The primary types of non-fungible tokens include art, collectibles, gaming, metaverses, sports, utilities, and others. Art encompasses paintings, sculptures, and various visual creations designed for aesthetic appreciation or contemplation. Artists particularly value non-fungible tokens for ensuring the authenticity and uniqueness of the blockchain representation of their work. Market types include both the primary market and the secondary market, and NFTs are associated with various cryptocurrencies such as ETH, DAI, MANA, SAND, REVV, MATIC, CUBE, FOAM, among others.
The non fungible token market research report is one of a series of new reports that provides non fungible token market statistics, including non fungible tokens industry global market size, regional shares, competitors with a non fungible token market share, detailed non fungible token market segments, market trends and opportunities, and any further data you may need to thrive in the non-fungible tokens (NFT) industry. This non fungible token market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The non fungible token market includes revenues earned by entities by event tickets, music and media, virtual items, real-world assets, identity, memes and domain names. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
The non-fungible token market size has grown exponentially in recent years. It will grow from $43.08 billion in 2024 to $61.01 billion in 2025 at a compound annual growth rate (CAGR) of 41.6%. The growth in the historic period can be attributed to digital art boom, celebrity and brand endorsements, crypto enthusiast participation.
The non-fungible token market size is expected to see exponential growth in the next few years. It will grow to $247.41 billion in 2029 at a compound annual growth rate (CAGR) of 41.9%. The growth in the forecast period can be attributed to broader tokenization of assets, integration with gaming, NFT marketplaces and infrastructure, regulatory clarity, and enhanced interoperability. Major trends in the forecast period include blockchain technology advancements, metaverse development, brand partnerships and collaborations, royalty and resale mechanisms.
The rising demand for digital artwork is anticipated to drive the growth of the non-fungible token (NFT) market in the upcoming years. Digital art refers to art that is created or displayed using digital technology. Artists appreciate non-fungible tokens because they provide validation and uniqueness for the blockchain representation of their creations. For example, in 2024, data from the U.S. indicated that the estimated global cryptocurrency ownership averaged 6.8%, with over 560 million crypto owners worldwide. Thus, the increasing demand for digital artwork is fueling the expansion of the non-fungible token market.
The expanding online gaming industry is projected to boost the growth of the non-fungible token (NFT) market in the future. The online gaming industry, often referred to as the video game industry, includes various activities related to digital gaming, such as development, publishing, distribution, and monetization of video games played online. NFTs are unique digital assets based on blockchain technology that signify ownership of a specific item, character, or element within a video game. These NFTs can be utilized across multiple games or virtual worlds that adhere to the same blockchain standards. This interoperability enables players to use their NFTs in different games, thereby enhancing the utility and value of these assets. For instance, as reported by Invest India, a national investment promotion and facilitation agency in India, online gaming revenue rose by 28% in 2021 to $1.2 billion and is expected to reach $1.9 billion by 2024. Consequently, the growth of the online gaming industry is driving the expansion of the non-fungible token market.
Major companies in the non-fungible token (NFT) market are concentrating on developing technological advancements like NFT marketplaces to facilitate the buying, selling, and trading of digital assets while improving user experience and security. Non-fungible tokens represent ownership of unique digital assets, including art, music, and collectibles. For example, in July 2022, GameStop, a U.S.-based company known for its retail gaming and electronics stores, made strides in the video game industry. NFT marketplaces are designed to enhance the experiences of both creators and collectors, often allowing creators to establish royalties that enable them to earn a percentage from future sales of their work, thereby promoting ongoing value for artists.
Major companies in the non-fungible token (NFT) market are prioritizing the development of technological advancements such as Rakuten NFT to enhance digital asset trading, improve user experience, and increase the accessibility of NFTs across various sectors, including entertainment, gaming, and art. The Rakuten NFT platform enables users to create, buy, sell, and trade NFTs, utilizing Rakuten's extensive ecosystem to facilitate digital asset trading. For example, in February 2022, Rakuten, a Japan-based e-commerce and technology company, offered a broad range of services, including online retail, digital payments, cloud services, and telecommunications. Rakuten NFT features an intuitive interface for creating, purchasing, and selling non-fungible tokens, provides a variety of digital collectibles, and equips creators with tools to set royalties on future sales, ensuring ongoing value for artists and enhancing user community engagement.
In December 2023, Mobile Premier League (MPL), an India-based online gaming company, acquired Good Game Exchange (GGX) for an undisclosed amount. This acquisition will facilitate smoother NFT trading and asset exchange across games while offering developers monetization opportunities through GGX's toolkit, thereby enhancing the gaming ecosystem for both players and creators. Good Game Exchange (GGX) is an India-based mobile gaming company that specializes in the non-fungible token (NFT) trading space.
Major companies operating in the non-fungible token market include SemiDot Infotech, Blockchain App Factory, Cineverse Corp., Funko Inc., Liquid Media Group Ltd., Oriental Culture Holding Ltd., Takung Art Co. Ltd., WISeKey International Holding Ltd., OpenSea, Rarible Inc., Sky Mavis, Cloudflare Inc., Dapper Labs Inc., Dolphin Entertainment Inc., Gemini Trust Company LLC., Onchain Labs Inc., Ozone Networks Inc., PLBY Group Inc., YellowHeart LLC, TSB Gaming Ltd., Larva Labs, SuperRare Labs, Mintbase Inc., Sorare SAS, Solanart, Gala Inc., Animoca Brands Corporation Ltd., AppDupe, KnownOrigin Labs Limited.
North America was the largest region in the non fungible token market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the non-fungible token market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the non-fungible token market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.
Non-fungible tokens (NFTs) are cryptographic assets on the blockchain distinguished by unique authentication codes and metadata that set them apart from one another. These tokens play a pivotal role in representing digital assets.
The primary types of non-fungible tokens include art, collectibles, gaming, metaverses, sports, utilities, and others. Art encompasses paintings, sculptures, and various visual creations designed for aesthetic appreciation or contemplation. Artists particularly value non-fungible tokens for ensuring the authenticity and uniqueness of the blockchain representation of their work. Market types include both the primary market and the secondary market, and NFTs are associated with various cryptocurrencies such as ETH, DAI, MANA, SAND, REVV, MATIC, CUBE, FOAM, among others.
The non fungible token market research report is one of a series of new reports that provides non fungible token market statistics, including non fungible tokens industry global market size, regional shares, competitors with a non fungible token market share, detailed non fungible token market segments, market trends and opportunities, and any further data you may need to thrive in the non-fungible tokens (NFT) industry. This non fungible token market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The non fungible token market includes revenues earned by entities by event tickets, music and media, virtual items, real-world assets, identity, memes and domain names. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
Table of Contents
1. Executive Summary2. Non-Fungible Token Market Characteristics3. Non-Fungible Token Market Trends and Strategies4. Non-Fungible Token Market - Macro Economic Scenario Including the Impact of Interest Rates, Inflation, Geopolitics, and the Recovery from COVID-19 on the Market32. Global Non-Fungible Token Market Competitive Benchmarking and Dashboard33. Key Mergers and Acquisitions in the Non-Fungible Token Market34. Recent Developments in the Non-Fungible Token Market
5. Global Non-Fungible Token Growth Analysis and Strategic Analysis Framework
6. Non-Fungible Token Market Segmentation
7. Non-Fungible Token Market Regional and Country Analysis
8. Asia-Pacific Non-Fungible Token Market
9. China Non-Fungible Token Market
10. India Non-Fungible Token Market
11. Japan Non-Fungible Token Market
12. Australia Non-Fungible Token Market
13. Indonesia Non-Fungible Token Market
14. South Korea Non-Fungible Token Market
15. Western Europe Non-Fungible Token Market
16. UK Non-Fungible Token Market
17. Germany Non-Fungible Token Market
18. France Non-Fungible Token Market
19. Italy Non-Fungible Token Market
20. Spain Non-Fungible Token Market
21. Eastern Europe Non-Fungible Token Market
22. Russia Non-Fungible Token Market
23. North America Non-Fungible Token Market
24. USA Non-Fungible Token Market
25. Canada Non-Fungible Token Market
26. South America Non-Fungible Token Market
27. Brazil Non-Fungible Token Market
28. Middle East Non-Fungible Token Market
29. Africa Non-Fungible Token Market
30. Non-Fungible Token Market Competitive Landscape and Company Profiles
31. Non-Fungible Token Market Other Major and Innovative Companies
35. Non-Fungible Token Market High Potential Countries, Segments and Strategies
36. Appendix
Executive Summary
Non-fungible Token Global Market Report 2025 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on non-fungible token market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
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- All data from the report will also be delivered in an excel dashboard format.
Description
Where is the largest and fastest growing market for non-fungible token? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The non-fungible token market global report answers all these questions and many more.The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
- The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Scope
Markets Covered:
1) by Type: Art; Collectibles; Gaming; Metaverses; Sports; Utilities; Other Types2) by Market Type: Primary; Secondary
3) by Cryptocurrency Usage: ETH; DAI; MANA; SAND; REVV; MATIC; CUBE; FOAM; Other Cryptocurrencies
Subsegments:
1) by Art: Digital Art; Photography; Music and Audio Art; Generative Art2) by Collectibles: Virtual Trading Cards; Digital Memorabilia; Virtual Pets; Domain Names
3) by Gaming: in-Game Assets (Skins, Weapons, Characters); Game Items and Equipment; Play-To-Earn Tokens; Virtual Real Estate in Games
4) by Metaverses: Virtual Land; Avatars and Customization Items; Experiences and Events; Decentralized Applications
5) by Sports: Digital Collectibles; Memorabilia; Highlight Reels and Moments; Fan Engagement Tokens
6) by Utilities: Access Tokens; Membership and Subscription NFTs; Governance Tokens; Utility NFTs in Decentralized Finance (DeFi)
7) by Other Types: Fashion and Wearables; Tickets and Event Access; Intellectual Property Rights; Certificates and Credentials
Key Companies Mentioned: SemiDot Infotech; Blockchain App Factory; Cineverse Corp.; Funko Inc.; Liquid Media Group Ltd.
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery Format: PDF, Word and Excel Data Dashboard.
Companies Mentioned
Some of the major companies featured in this Non-Fungible Token market report include:- SemiDot Infotech
- Blockchain App Factory
- Cineverse Corp.
- Funko Inc.
- Liquid Media Group Ltd.
- Oriental Culture Holding Ltd.
- Takung Art Co. Ltd.
- WISeKey International Holding Ltd.
- OpenSea
- Rarible Inc.
- Sky Mavis
- Cloudflare Inc.
- Dapper Labs Inc.
- Dolphin Entertainment Inc.
- Gemini Trust Company LLC.
- Onchain Labs Inc.
- Ozone Networks Inc.
- PLBY Group Inc.
- YellowHeart LLC
- TSB Gaming Ltd.
- Larva Labs
- SuperRare Labs
- Mintbase Inc.
- Sorare SAS
- Solanart
- Gala Inc.
- Animoca Brands Corporation Ltd.
- AppDupe
- KnownOrigin Labs Limited
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 200 |
| Published | February 2025 |
| Forecast Period | 2025 - 2029 |
| Estimated Market Value ( USD | $ 61.01 Billion |
| Forecasted Market Value ( USD | $ 247.41 Billion |
| Compound Annual Growth Rate | 41.9% |
| Regions Covered | Global |
| No. of Companies Mentioned | 30 |
