Europe NFT Market Intelligence and Future Growth Dynamics Report 2022: The market is expected to grow by 46.8% to reach $13.35 billion in 2022

DUBLIN, 9 January 2023 /PRNewswire/ — The “Europe NFT Market Intelligence and Future Growth Dynamics Databook – 50+ KPIs on NFT Investments by Key Asset, Currency, Sales Channels – Q2 2022” the report has been added ResearchAndMarkets.com’s Offering.

The NFT industry i Europe is forecast to grow by 46.8% year-on-year to reach USD 13353.4 million in 2022.

The NFT industry is expected to grow steadily over the forecast period, registering a CAGR of 33.4% during 2022-2028. The NFT use value in the country will increase from USD 13353.4 million in 2022 to now USD 68558.5 million by 2028.

IN Europe, the NFT market has witnessed significant growth recently. The NFT market is booming since NFTs are an innovation that establishes property rights in the digital zone for the first time, and this uniqueness drives the value of NFTs and thus the European market.

The NFTs have become prominent across the board Europeincluding in some of the countries such as Great Britain, Germany, France and Italy. Every industry finds an innovative NFT use case, from sports to real estate to entertainment. This NFT uses cases to support the market’s growth in the country. As NFT startups continue to innovate and develop differentiated NFT products, these startups are also raising funding rounds in the country to further accelerate their growth.

The UK’s NFT industry also receives support from the government

In particular, the government’s support for the development of the NFT industry is proof of the high growth potential of the NFT market in Great Britain. With the NFT market just starting in the country, the publisher expects the industry to register strong growth over the next three to four years.

NFT marketplaces are raising funding rounds to fuel their growth in the NFT industry

The global NFT industry is expected to register strong growth over three to four years. In the growing prominence and popularity of the NFT market i Great BritainNFT startups are raising funding rounds to further accelerate the growth of their marketplaces.

The story continues

Venture Capital investment firm buys 50% stake in UK NFT startup

With the NFT market expected to register strong growth over the next three to four years, venture capital firms are increasing their stake in NFT startups in Great Britain to gain large market shares.

NFT platform that allows social media users to connect their profile to the blockchain and create NFTs launched in Great Britain

Millions of social media users are looking for ways to monetize their content online. NFT startups target such users and create innovative products that allow social media users to create NFTs and monetize their content.

IN GermanyNFTs are mainly used in digital trading cards, game characters, virtual lands in virtual worlds, or crypto Art. Like in a novel crypto exchange aggregator, Coincub, Germany had run out Singapore at most crypto– friendly country. Germany adopted blockchain technology way back in 2019, increasing digital transformation. This further made the country an attractive hub for the development of blockchain, NFT, Web3 and metaverse applications that are further leveraged in fintech, climate technology and businesses, including Germany’s project for digital identities.

Since the country began to allow crypto investments in long-term domestic savings, the country proved to be best suited for crypto investments. Therefore, the publisher anticipates that in a country such as Germanywhere the government’s policy is smart and sharp and is well ahead of time, the country is likely to experience significant growth over the next three to four years.

NFT popularity has increased significantly France

Globally, brands are finding innovative use cases of NFT. From using NFTs to raise funds for charities to use them to increase brand awareness, innovation is driving market growth.

Similar trends are visible in France, where startups enter the NFT space to increase brand awareness and consumer engagement. Notably, the presence of these players and their NFT trading platforms has made it easier for the general public to buy and sell their collections in the country.

NFT popularity has increased significantly globally in the last 12 months. One of the main reasons behind the growing popularity of NFTs is the increasing number of celebrities entering the space. The trends are similar France also.

Auksjonshus conducts NFT auctions in France

With the growing popularity of NFTs in the digital art segment, many auction houses in the country are looking to conduct an auction of virtual works in France.

This is a comprehensive offer, which combines 14 reports, covering regional insight together with data-centric analysis at regional and country level:

1. Europe NFT Insight Market Brief

2. Europe NFT Market Intelligence and Future Growth Dynamics Databook

3. Austria NFT Market Intelligence and Future Growth Dynamics Databook

4. Belgium NFT Market Intelligence and Future Growth Dynamics Databook

5. Denmark’s NFT Market Intelligence and Future Growth Dynamics Databook

6. Finland NFT Market Intelligence and Future Growth Dynamics Databook

7. France NFT Market Intelligence and Future Growth Dynamics Databook

8. Germany NFT Market Intelligence and Future Growth Dynamics Databook

9. Italy NFT Market Intelligence and Future Growth Dynamics Databook

10. Poland NFT Market Intelligence and Future Growth Dynamics Databook

11. Russia NFT Market Intelligence and Future Growth Dynamics Databook

12. Spain NFT Market Intelligence and Future Growth Dynamics Databook

13. Switzerland NFT Market Intelligence and Future Growth Dynamics Databook

14. UK NFT Market Intelligence and Future Growth Dynamics Databook

scope

NFT Market Size and Forecast by Key Asset, 2019-2028

• Collectables and art

• Property

• Sport

• Gaming

• Benefit

• Fashion and luxury

• Other

NFT Market Size and Forecast by Key NFT Collectibles, 2019-2028

• Digital art

• Music and sound clips

• Videos

• Memes and Gifs

• Other

NFT Market Size and Forecast by Currency, 2019-2028

• Ethereum

• Solana

• Avalanche

• Polygon

• BSC

• Flow

• Wax

• Ronin

• Other

NFT Market Size and Forecast by Sales Channel, 2019-2028

User statistics, 2019-2028

For more information on this report, visit https://www.researchandmarkets.com/r/4sj12j

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