The non-fungible token is unique in its form, and there cannot exist another like it. A non-fungible token is a type of cryptographic token that represents a unique identity. These token can be digital or physical and includes items like sneakers, art, a plane ticket, a university degree, real estate, and in-game items for an online game. Moreover, non-fungible tokens enable the business or individuals to buy and sell items in a marketplace, as the non-fungible token unique ID, will match up with either the original issue of the item or the service which performs authenticity checks. The major attributes that drive the market growth are the property of uniqueness, as no two non-fungible tokens are the same, and are not interchangeable, non-fungible holds the property of ownership. The idea of having ownership of digitally created content and art is expected to drive the market.
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Real estate is one of the fastest, most far-reaching, and boundless sectors. The concept of tokenization of real estate assets, along with blockchain technology, is transforming the real estate sector to another level. The factors that influence the demand of real estate in the non-fungible token market are the various options available for the owner of the property, as tokenization of real estate assets will bring in high volume liquidity that assists for a quick conversion of property values into cash, real estate tokenization removes geographical barriers and provides the policy of trading with anyone across the globe. Moreover, real estate assets in the non-fungible token market, allow the users to contact directly without the involvement of intermediaries, which in turn reduces risk and minimizes extra costs. The wider application and fastest-growing demand of real estate in non-fungible token has propelled the growth of the market in coming years.
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- Market Coverage
- Market number available for – 2024-2031
- Base year- 2024
- Forecast period- 2024-2031
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Global Non-Fungible Token Market– Segmentation
By Type
- Insurance
- Real estate
- Automobile
- Others(Digital Art, Collectibles)
By Application
- Personal Use
- Commercial Use
Global Non-Fungible Token Market By by Region
North America
- US
- Canada
Europe
- Germany
- United Kingdom
- France
- Spain
- Italy
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
Rest of the World
- Middle East & Africa
- Latin America
The Report Covers
- Market value data analysis of 2022 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global non-fungible token market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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