Non-Fungible Token Market – Increasing use of NFTs for domain name ownership

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Rising popularity of metaverse and growing demand for decentralized marketplaces are some key factors driving marketplace revenue growth

VANCOUVER, BRITISH COLUMBIA, CANADA, Nov. 22, 2022 /EINPresswire.com/ — The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It tracks the market’s historical and projected market growth by geography. It places the market in the context of the wider Non-fungible Token (NFT) market, and compares it to other markets.

The 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, according to the latest analysis by Emergen Research. Rapid uptake of metaverse and growing demand for decentralized marketplaces are some key factors driving global non-fungible token market revenue growth. Increasing use of NFT for ownership of domain names is also expected to significantly increase revenue growth in the market. Owners of blockchain domains can use private keys to manage respective domains. The standard Domain Name Service (DNS) is controlled by the Internet Corporation for Assigned Names and Numbers (ICANN), and there is very minimal oversight of such domains. Censorship and security issues are raised as a result. Blockchain domain names are permanently registered in a public registry and can be deleted or changed by a third party, helping to mitigate such concerns. Blockchain domain NFTs provide fast trading and customizable domain names. Ethereum Name Service (ENS) and Unstoppable Domains, which are decentralized solutions to the conventional DNS, allow crypto addresses similar to an Instagram or Twitter 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.

However, lack of standardization and concerns regarding fraud and potential fraud are key factors expected to hamper the growth of the global non-fungible token market to some extent over the forecast period.

We have recent updates of non-fungible token market in sample copy @

The study outlines the rapidly developing and growing market segments along with valuable insights into each element of the industry. The industry has witnessed the entry of several new players, and the report aims to deliver insightful information about their transition and growth in the market. Mergers, acquisitions, partnerships, agreements, product launches and joint ventures are all outlined in the report.

Key companies profiled in the report:

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.)

Emergen Research has segmented the global non-fungible token market on the basis of type, application, end-use and region:

Type Outlook (Revenue, billion USD; 2019-2030)

Physical asset

Digital resource

Application Outlook (Revenue, USD Billion; 2019-2030)

Collectibles

Video clips

Sound clips

Gamification

Second

Art

Pixel Art

Fractal/algorithmic art

Computer generated painting

2D/3D painting

2D/3D computer graphics

GIFs

Second

Gaming

Trading Card Game (TCG)

Video games

Strategy role-playing game (RPG)

Second

Tool

Tickets

Domain name

Assets Ownership

Metaverse

Sport

Second

End-Use Outlook (Revenue, USD Billion; 2019-2030)

Personal

Commercial

FREE HISTORICAL DATA:

You need to find out how this will affect the Non-fungible Token market today, and over the next 10 years:

• Our 250-page report provides 194 tables and 189 charts/graphs exclusively for you.

• The report highlights key lucrative areas in the industry so you can target them – now.

• It contains an in-depth analysis of global, regional and national sales and growth.

• It highlights for you the most important successful trends, changes and revenue projections made by your competitors.

Regional segmentation;

North America (USA, Canada)

Europe (UK, Italy, Germany, France, rest of EU)

Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)

Latin America (Chile, Brazil, Argentina, Rest of Latin America)

Middle East and Africa (Saudi Arabia, UAE, South Africa, Rest of MEA)

Information found nowhere else

With our new report, you are less likely to fall behind in knowledge or miss opportunities. See how our work can benefit your research, analysis and decisions. The Emergen Research study is for anyone who needs commercial analysis for the non-fungible token market, 2022 to 2030, market leading companies. You will find data, trends and predictions.

The content of each profile varies, depending on the organization. In general, a profile provides the following information:

• Overview of the company’s Non fungible Token products and services

• Analysis of the latest financial results – annual income of the companies

• Assessment of developments – activities, acquisitions, production capacity, agreements, new service offerings and collaboration

The research can be useful for leading businesses looking for new sources of income, as well as for businesses looking to diversify into new markets or expand their current operations, as well as for businesses looking to diversify into new markets.

How will this report benefit you?

A 250-page Emergen Research report contains 194 tables, 189 charts and graphics. Our new study is ideal for anyone who wants to learn about the global Non-fungible Token market commercially and deeply, as well as analyze the market segments in depth. With the help of our recent study, you can analyze the entire regional and global Non fungible Token market. To increase your market share, you need to obtain financial analysis of the entire market and its segments. Our research suggests that there is significant opportunity in this rapidly growing market for energy storage technology. See how you can take advantage of these income-generating opportunities. In addition, the research will help you develop growth strategies, strengthen competitor analysis and improve business productivity by enabling you to make better strategic decisions.

Get a free PDF sample of this report at: Thank you for reading our report. Please contact us if you have any questions regarding the report or its customization. Our team will ensure that the report is best suited to your needs.

About us:

Emergen Research is a market research and consulting company that offers syndicated research reports, custom research reports and consulting services. Our solutions focus exclusively on your purpose to locate, target and analyze changes in consumer behavior across demographics, across industries and help customers make smarter business decisions. We provide market intelligence studies that ensure relevant and fact-based research across multiple industries, including healthcare, touchpoints, chemicals, types and energy. We continuously update our research offerings to ensure that our customers are aware of the latest trends in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems gives our customers the opportunity to secure a head start on their respective competitors.

Eric Lee
Emergen Research
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