Evolve Business Intelligence has published a half-cooked research report on the Global Metaverse NFT Market, 2021–2030. The global Metaverse NFT market is projected to exhibit a CAGR of around XX% during the forecast period of 2022 to 2030.
Evolve Business Intelligence has recognized the following companies as the key players in the global Metaverse NFT market: Epic Games, Inc.; Nvidia Corporation; Tencent Holdings Ltd; ByteDance Ltd.; Lilith Games; Unity Technologies, Inc.; Roblox Corporations; NetEase, Inc.; Nextech AR Solutions Corp.
The global Metaverse NFT market is projected to be valued at $80 Million by 2030, recording a CAGR of around XX% during the forecast period. Non-Fungible Tokens are a type of crypto asset which is impossible to duplicate and helps form ownership records in a blockchain. They can be bought, sold, and traded on the Metaverse. Due to their uniqueness, the value of some NFTs can sometimes skyrocket. The connection between the Metaverse and Non-Fungible Tokens is related to the digital assets, and how they are given value. The Metaverse enables users to showcase a lot of digital art and NFTs will allow them to put a price on the digital content. NFTs will also allow for proof of ownership.
The COVID-19 pandemic played a significant role in the creation of the Metaverse. People were working from home and taking classes online so practical techniques or channels had to be developed to communicate with others online. Pandemic-influenced technology has risen in popularity. In 2020, corporations have begun investing in technology to counteract the ongoing pandemic. Facebook invested over a billion dollars in the Metaverse and this has had a good effect for 2020-2021, with investments into Metaverse technology.
The global Metaverse NFT market has been segmented based on the Platform type, Application, and region.
By Platform Type, the Metaverse NFT market is segmented based on Desktop and Mobile. The Desktop segment dominates the market. The large screen displays and the multi-screen usage on Virtual desktops have helped Desktop Segment dominate the market. But soon in no time, the Mobile segment can take over due to the increasing popularity of smartphones and the user-friendly experiences it provides.
Based on Application, the Metaverse NFT market is segmented based on Gaming, Online shopping, Content Creation & Social Media, Events & Conferences, Digital Marketing, and others. The Gaming segment is anticipated to hold the largest market. With the increase in the gaming population and the constant developments the segment is witnessing, the users are taken with an aww every time.
The Metaverse NFT market is divided into six regions: North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa. The North American region is projected to dominate the global Metaverse NFT market. This dominance in the global market is due to more and more users adopting the new and complex technology. Moreover, the major players in the region are shifting their focus on creating games and experiences based on Metaverse. With a growing number of start-ups and organizations in the Asia-Pacific region, the region is expected to grow at the highest CAGR over the forecast period. The European countries have been experiencing consistent growth in the Metaverse NFT market over the past few years. The growth of the European countries in the Metaverse NFT market has been a major contributor to the global market. The Middle East, Africa, and Latin American region has been experiencing outspoken growth in the Metaverse Non-Fungible Token (NFT) market and will continue to enjoy rapid development in the years to come. The fervent adoption of blockchain technology and the increasing trend of digitization have boosted the growth of the market.