Towards Next Generation Asset Class – Can NFTs Outlive Hype as New Gold of Crypto Economy?

Powered by

All the vital news, analysis, and commentary curated by our industry experts.

The NFT market grew by more than 2,000% to surpass $2 billion in Q1 2021 sales. It sprung to $2.5 billion by the first half of 2021. NFTs maintained more than 1% of the Ethereum and 0.17% of the Bitcoin market capitalization in 2020. NFTs unfold a new frontier in the use case of blockchain technology to monetize digital creative content. Slowly but surely, they are proving to be bigger than an art fad by finding real-time use cases in new horizons.

The explosive trends in news, deals, and company filings related to NFT in 2021 indicate a big jump in the interest for the new crypto asset, which can be primarily attributed to its enablement of novel ways to commercialize digital creative content, as well as favorable returns from high speculations. Anyone like an artist, musician, GIF maker, graphic designer, or AI expert can create an NFT to represent their digital creative work and list it in a marketplace for others to bid or set a fixed selling price.

What are the market dynamics in NFTs?

NFTs are digitally unique, no two are the same. Forging an NFT containing a digital media file like art or music is almost impossible. It eliminates the need for middlemen and can be sold on any NFT market or peer-to-peer. While cryptocurrencies carry a monetary value, NFTs are valued as per their uniqueness and aligned as a collector’s item. While surfaced for the first time arguably in 2012, NFTs shot to fame in 2017 and from then became increasingly popular among artists, collectors, and investors. In 2021, public awareness of NFTs reached peaks after Indian entrepreneur Vignesh Sundaresan purchased an art NFT for over $69 million. 

NFT marketplaces are the platforms where NFTs can be created, displayed, and traded, while NFT wallets are where NFTs are stored and maintained. OpenSea is a free marketplace that offers ownership of a variety of assets including artwork, sports collectibles, virtual worlds, trading cards, and domain names. Many of the emerging wallets such as Fortmatic, Walletconnect, and Enjin claim to offer advanced security features such as biometrics and auto lock as well as provide native support for multiple blockchains.

What are the emerging concepts in the NFT adoption?

Crypto for covid relief: Emerging economies such as India and African countries are launching relief projects to auction digital artwork in the form of NFTs to raise money for COVID-19 relief and vaccine development.

Fractionalized NFTs: F-NFTs enable smaller investors to pool resources to purchase fractional interests of a digital asset. For example, a collection of fifty CryptoPunks can be fractionalized into millions of tokens.

Re-fungibility: The concept of refungibility attaches the NFT to a new ERC-1633 standard, which helps the content owner to enable shared ownership to multiple buyers for the single NFT.

Digi-vaccine certificates: The San Marino General Council has approved an incentive for a green vaccination pass that uses VeChain technology and NFTs.

Digital IP: NFTs would enable the design of patent marketplaces where their members can buy, license, finance, sell, refer and commercialize patents. IBM and IPwe are already designing such a patent marketplace.

Country-wise trend of VC investment activity, NFTs (2021)

Country-wise trend of VC investment activity, NFTs (2021)

For more insights, download a free report sample

Which are the leading startups in the NFT market?

Launch, Zora, and Verisart are a few leading startups in art & music while Dapper, Myhtical, and Skymavis are leading start-ups in the gaming sector. There are startups that dominate the NFT development in sports, real estate, entertainment, fashion, and other sectors too.

Market report scope

Market Size (Year – H1 2021) $2.5 billion
Outlook Period The first half of 2021
Emerging concepts Crypto for covid relief, Fractionalized NFTs, Refungibility, Digi-vaccine certificate, Digital IP
Companies Covered 0xcert, 3D Robe, 4Artechnologies, Aavegotchi, Activision Blizzard, Adidas, Aimedis, Air Baltic Corp, Algorand, Alphawallet, Americorp Investments, Andreessen Horowitz, Anheuser-Busch Inbev, Animoca

Scope

  • Technology Decoding: presents the technology overview, key features, market drivers, major applications, and a market map with potential use cases and popular players (startups as well as enterprises).
  • Media & Trend Analysis: highlights the technology presentation from the media perspective – major news, and lauds from the social media promoting the technology. The section also mentions the technology from company annual and other filings.
  • Investment Radar: outlines the venture capital funding trends with some of the popular deals, the most funded startups, and notable investors and accelerators pumping millions into the technology growth.
  • Innovation Explorer: introduces game-changing company innovations with a spotlight on startups. Select corporate-startup partnerships inclined at future product developments are also mentioned.
  • IP Landscaping provides a broad-level analysis of the trends in patent filings and grants, priority countries, and key patent filers in the technology.
  • The Road Ahead: summarizes the drivers and challenges, use cases that can become successful with business leaders, potential applications in new horizons, and the outlook of the technology.

Key Highlights

NFT overview and its key applications across industries, use cases, and major stakeholders in each industry, the noise created in the media, VC investment trends, real-world innovation use cases and examples related to the implementation of NFT, trends in patent filings and grants, and the future potential of NFTs.

Reasons to Buy

GlobalData’s FutureTech Series Reports are aimed at capturing futuristic technologies which have the potential to disrupt tomorrow. These technologies are constantly changing, adapting, and progressing to enable a paradigm shift in our daily lives. The awareness, knowledge, and expertise of these topics help transform business models and strategic thinking with an in-depth understanding of megatrends that can directly influence patenting, collaboration, acquisition, and investment decisions.

0xcert
3D Robe
4Artechnologies
Aavegotchi
Activision Blizzard
Adidas
Aimedis
Air Baltic Corp
Algorand
Alphawallet
Americorp Investments
Andreessen Horowitz
Anheuser-Busch Inbev
Animoca Brands
Ant Group
Aon plc
Arianee
ASICS
Assicurazioni Generali
Async Art
Atari Corporation
Audi
Azure Capital Partners
Baidu
Bakeryswap
Ballet Global
Barrett-Jackson
Bay City Capital
Bessemer Ventures Partners
Binance Smart Chain
Blockade Games
Blockchange Ventures
Boson Protocol
Bravado
Breitling
Buchigo
Burberry
CarrierEQ Inc.
Casper Labs
Charged Particles
Christie's
Clothia
Coca Cola
Coinbase
Coinfund
Curio
Currencyworks
Dapper Labs
Decentraland
Delorean Motor Company
Dolphin Entertainment
Doublejump.Tokyo
Eight Plus Ventures
Emerald Asset Management
Enjin
Equivest
EYGS LLP
Fantastec
Foil Network
Forte
Fortmatic
Fox
Funfair Technologies
Funko
Galaxy Digital Ventures
Gameloft SE
Geer
General Mills
Genies
GMO Internet Group
Gucci
Gumi Inc
Hall of Fame Resort & Entertainment
Hasbro
Hermes Paris
HYPR Corp
Ignition Partners
Ikonick
Immutable X
Re-Inc
Jacob & Co
Javelin Ventures Partners
Jiayin Group
Knownorigin
Koinearth
Kostizi
LABS Group
Larva Labs
Launch
Leverage Rock
Louis Vuitton
marketsN
Marvel Entertainment
Mastercard
Mathwallet
Mattel
Mercari
MetaMask
Microsoft Corporation
Mintbase
Mogul Productions
Monex Group
Mythical Games
nChain
Nebula Genomics
Netflix
Netmarble Corp
NFTfi
Nifty Gateway
Nike
Nintendo
Nippon Telegraph And Telephone Corporation
Northzone Ventures
nWay
Opensea
Ozone Networks
P&G
Paypal
Pinata
Pizza Hut
Propy
Puma
Rage.Fan
Rarible
Renault
Richemont
RTFKT
S!Ng
Sandbox
SBI Holdings
Securrency
Shape Immersive
Shivom
Shutterstock
Sinclair Broadcast Group
Sino-Global
Sky Mavis
Skysport
Somnium Space
Sony Music
Universal Music Group
Sorare
Sotheby's
So-Young International Inc
Strong Force Intellectual Capital
SuperRare
Supertree
Superworld
Taito Corporation
Taoping
Tauriga Sciences
Tautachrome
Tencent Games
Ten-X
Atlantic Records
The Fabricant
Threshold Ventures
Top Shot
TOPPS
TriumphX
Tron
Trust Wallet
Turner Sports
Unblockable
Under Armour
Upshot
Verisart
Viacom
VideoCoin
Visa
WalletConnect
The Walt Disney Company
Warner Brother’s Music Group
WazirX
Whale.me
Winklevoss Ip
Wisekey International Holdings
Wizard Brands
World Wrestling Entertainment
XPOP
YAS Microinsurance
Yum! Brands
ZK International Group
Zora

Table of Contents

Table of Contents

1. Technology Decoding: Overview, Key applications, and Major market players

2. Media & Trend Analysis: News publication trends, Thought leadership, Social media traction, Company filings

3. Investment Radar: VC investment trends, Top countries by most deals, Top funded startups, Most active investors, and accelerators

4. Innovation Explorer: Key innovators: startups under spotlight and major enterprises in action

5. IP Landscaping: IP Filing trends

6. The Road Ahead: Drivers and challenges, Emerging concepts, Potential use cases for business leaders, Futuristic industry applications, Outlook

Frequently asked questions

Towards Next Generation Asset Class – Can NFTs Outlive Hype as New Gold of Crypto Economy? thematic reports
Currency USD
$1,495

Can be used by individual purchaser only

$4,485

Can be shared globally by unlimited users within the purchasing corporation e.g. all employees of a single company


Undecided about purchasing this report?

Enquire Before Buying Request a Free Sample

Get in touch to find out about multi-purchase discounts

reportstore@globaldata.com
Tel +44 20 7947 2745

Every customer’s requirement is unique. With over 220,000 construction projects tracked, we can create a tailored dataset for you based on the types of projects you are looking for. Please get in touch with your specific requirements and we can send you a quote.

Sample Report

Towards Next Generation Asset Class – Can NFTs Outlive Hype as New Gold of Crypto Economy? was curated by the best experts in the industry and we are confident about its unique quality. However, we want you to make the most beneficial decision for your business, so we offer free sample pages to help you:

  • Assess the relevance of the report
  • Evaluate the quality of the report
  • Justify the cost

Download your copy of the sample report and make an informed decision about whether the full report will provide you with the insights and information you need.

Below is a sample report to understand what you are buying

See what our customers are saying

“The GlobalData platform is our go-to tool for intelligence services. GlobalData provides an easy way to access comprehensive intelligence data around multiple sectors, which essentially makes it a one-for-all intelligence platform, for tendering and approaching customers.

GlobalData is very customer orientated, with a high degree of personalised services, which benefits everyday use. The highly detailed project intelligence and forecast reports can be utilised across multiple departments and workflow scopes, from operational to strategic level, and often support strategic decisions. GlobalData Analytics and visualisation solutions has contributed positively when preparing management presentations and strategic papers.”

Business Intelligence & Marketing Manager, SAL Heavy Lift

“COVID-19 has caused significant interference to our business and the COVID-19 intelligence from GlobalData has helped us reach better decisions around strategy. These two highlights have helped enormously to understand the projections into the future concerning our business units, we also utilise the project database to source new projects for Liebherr-Werk to use as an additional source to pitch for new business.”

Market Analyst & Management, Liebherr-Werk

Your daily news has saved me a lot of time and keeps me up-to-date with what is happening in the market, I like that you almost always have a link to the source origin. We also use your market data in our Strategic Business Process to support our business decisions. By having everything in one place on the Intelligence Center it has saved me a lot of time versus looking on different sources, the alert function also helps with this.

Head of Key Accounts, Saab AB

Having used several other market research companies, I find that GlobalData manages to provide that ‘difficult-to-get’ market data that others can’t, as well as very diverse and complete consumer surveys.

Marketing Intelligence Manager, Portugal Foods

Our experience with GlobalData has been very good, from the platform itself to the people. I find that the analysts and the account team have a high level of customer focus and responsiveness and therefore I can always rely on. The platform is more holistic than other providers. It is convenient and almost like a one stop shop. The pricing suite is highly competitive and value for our organisation.

I like reports that inform new segments such as the analysis on generation Z, millennials, the impact of COVID 19 to our banking customers and their new channel habits. Secondly the specialist insight on affluent sector significantly increases our understanding about this group of customers. The combination of those give us depth and breadth of the evolving market.

I’m in the business of answering and helping people make decisions so with the intelligence center I can do that, effectively and efficiently. I can share quickly key insights that answer and satisfy our country stakeholders by giving them many quality studies and primary research about competitive landscape beyond the outlook of our bank. It helps me be seen as an advisory partner and that makes a big difference. A big benefit of our subscription is that no one holds the whole data and because it allows so many people, so many different parts of our organisation have access, it enables all teams to have the same level of knowledge and decision support.

Head of Customer Insight and Research, Standard Chartered

“I know that I can always rely on Globaldata’s work when I’m searching for the right consumer and market insights. I use Globaldata insights to understand the changing market & consumer landscape and help create better taste & wellbeing solutions for our customers in food, beverage and healthcare industries.

Globaldata has the right data and the reports are of very high quality compared to your competitors. Globaldata not only has overall market sizes & consumer insights on food & beverages but also provides insights at the ingredient & flavour level. That is key for B2B companies like Givaudan. This way we understand our customers’ business and also gain insight to our unique industry”

Head of Consumer Sensory Insights, Givaudan

GlobalData provides a great range of information and reports on various sectors that is highly relevant, timely, easy to access and utilise.  The reports and data dashboards help engagement with clients; they provide valuable industry and market insights that can enrich client conversations and can help in the shaping of value propositions. Moreover, using GlobalData products has helped increase my knowledge of the finance sector, the players within it, and the general threats and opportunities.

I find the consumer surveys that are carried out to be extremely beneficial and not something I have seen anywhere else. They provided an insightful view of why and which consumers take (or don’t) particular financial products. This can help shape conversations with clients to ensure they make the right strategic decisions for their business.

One of the challenges I have found is that data in the payments space is often piecemeal. With GD all of the data I need is in one place, but it also comes with additional market reports that provide useful extra context and information. Having the ability to set-up alerts on relevant movements in the industry, be it competitors or customers, and have them emailed directly to me, ensures I get early sight of industry activity and don’t have to search for news.

Senior Account Manager, TSYS
Go even deeper with GlobalData Intelligence Center

Every Company Report we produce is powered by the GlobalData Intelligence Center.

Subscribing to our intelligence platform means you can monitor developments at Towards Next Generation Asset Class – Can NFTs Outlive Hype as New Gold of Crypto Economy? in real time.

  • Access a live Towards Next Generation Asset Class – Can NFTs Outlive Hype as New Gold of Crypto Economy? dashboard for 12 months, with up-to-the-minute insights.
  • Fuel your decision making with real-time deal coverage and media activity.
  • Turn insights on financials, deals, products and pipelines into powerful agents of commercial advantage.