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Non-Fungible Token (NFT) Market to grow by USD 84.13 Billion (2025-2029), driven by rising demand for digital art, AI-driven market transformation – Technavio

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NEW YORK, Jan. 29, 2025 /PRNewswire/ — Report with the AI impact on market trends – The global non-fungible token (NFT) market size is estimated to grow by USD 84.13 billion from 2025-2029, according to Technavio. The market is estimated to grow at a CAGR of  30.3%  during the forecast period. Increasing demand for digital art is driving market growth, with a trend towards growing interest in NFTS among major brands. However, uncertainty in NFTS poses a challenge. Key market players include AirNFTs Platform, Asynchronous Art Inc., Axie Infinity, Binance Holdings Ltd., Blockchain App Factory, Celer Network, Chaincella, Decentraland Foundation, Enjin Pte. Ltd., Foundation Labs Inc., Funko Inc., Gemini Trust Co. LLC, Mintable.app, Ozone Networks Inc., Out The Mud Ventures Inc., Rarible Inc., Sky Mavis, SuperRare Labs Inc., Tiki Labs Inc., and Yellowheart LLC.

Key insights into market evolution with AI-powered analysis. Explore trends, segmentation, and growth drivers- View Free Sample PDF

Non-Fungible Token (NFT) Market Scope

Report Coverage

Details

Base year

2024

Historic period

2019 – 2023

Forecast period

2025-2029

Growth momentum & CAGR

Accelerate at a CAGR of 30.3%

Market growth 2025-2029

USD 84127.2 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

28.9

Regional analysis

APAC, North America, South America, Europe, and Middle East and Africa

Performing market contribution

APAC at 37%

Key countries

US, China, Canada, Japan, India, South Korea, Brazil, UK, Australia, and Germany

Key companies profiled

AirNFTs Platform, Asynchronous Art Inc., Axie Infinity, Binance Holdings Ltd., Blockchain App Factory, Celer Network, Chaincella, Decentraland Foundation, Enjin Pte. Ltd., Foundation Labs Inc., Funko Inc., Gemini Trust Co. LLC, Mintable.app, Ozone Networks Inc., Out The Mud Ventures Inc., Rarible Inc., Sky Mavis, SuperRare Labs Inc., Tiki Labs Inc., and Yellowheart LLC

Market Driver

Non-Fungible Tokens, or NFTs, have taken the art, athletes, and celebrities worlds by storm. These digital assets, represented by unique codes on the blockchain, bring scarcity and ownership to digital property like artworks, collectibles, and even virtual real estate. The gaming industry and media & entertainment sector have embraced NFTs, with popular items including trading cards, game collectibles, and virtual items. Blockchain technology powers NFTs, ensuring transparency, security, and immutability. Ethereum network is the leading platform for NFT creation and trade. NFTs can represent intellectual property, such as music or paintings, and even physical assets like houses or vehicles. NFTs are traded on online platforms, often using cryptocurrencies. Decentralized finance and smart contracts facilitate transactions. The NFT community is growing, with investors and third parties involved in the distribution networks. Regulatory considerations include securities laws and consumer protection. Fraud is a concern, highlighting the need for a legal framework. Augmented Reality (AR) and Extended Reality (XR) bring new dimensions to NFTs, while Virtual Reality (VR) and Metaverse offer experiences. Taxation and tokenization of games are also emerging trends. The NFT market is evolving, with the White House recognizing its potential. NFTs represent a new era for digital assets and ownership, bridging the gap between physical and digital worlds. 

Big brands such as Visa Inc. And Budweiser are increasingly exploring the potential of Non-Fungible Tokens (NFTs) as a new revenue stream. The primary motivation for their interest lies in the opportunity to generate additional earnings. Brands are focusing on using NFTs as rewards for consumers, offering innovative gifts that cannot be replicated. As more e-commerce brands transition to Web 3.0, players like eBay Inc. And Amazon.com Inc. Are also expressing interest. These factors are expected to boost the number of NFT transactions, fueling the growth of the global NFT market during the forecast period. 

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 Market Challenges

Non-Fungible Tokens (NFTs) have revolutionized the art, collectibles, and entertainment industries by allowing for the digital ownership and trade of unique, one-of-a-kind assets. These assets include digital artworks, sports collectibles, music, and even virtual real estate. The use of blockchain technology ensures transparency, security, and immutability, enabling artists, athletes, and celebrities to monetize their intellectual property in new ways. However, challenges persist, such as regulatory considerations, consumer protection, and logistical issues related to distribution networks and online platforms. Fraud and taxation are also concerns, as NFTs can represent a variety of digital assets, from cryptocurrencies and tokens to virtual items and collectibles. The NFT community continues to grow, with Ethereum network being a popular choice due to its smart contract capabilities. As the market evolves, it’s important for stakeholders to navigate the legal framework and ensure compliance with securities laws and intellectual property rights. The future of NFTs lies in the metaverse, where digital property can be experienced in augmented reality (AR), virtual reality (VR), and extended reality (XR), offering new opportunities for creators, investors, and consumers alike.The Non-Fungible Token (NFT) market presents unique challenges for sellers due to the unpredictability of demand and pricing. The value of NFTs is influenced by factors such as scarcity, uniqueness, and the perception of owners and buyers. However, these elements make it difficult for sellers to determine the future worth of their NFTs. New investors face challenges in predicting trends in NFT pricing as the market is still in its early stages. The value of NFTs is subjective and can fluctuate based on buyers’ perceptions, making it an uncertain market for sellers.

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Segment Overview 

This non-fungible token (nft) market report extensively covers market segmentation by  

Application 1.1 Collectibles1.2 Sports1.3 Arts1.4 OthersEnd-user 2.1 Personal2.2 CommercialGeography 3.1 APAC3.2 North America3.3 South America3.4 Europe3.5 Middle East and AfricaType

1.1 Collectibles-  Non-Fungible Tokens (NFTs) are unique digital collectibles, minted on the Blockchain as limited-edition or rare tokens. These collectibles cannot be exchanged or traded like fungible tokens. Vendors offer online platforms for buying and selling NFT collectibles. Owners hold exclusive rights to sell their collectibles, with the ability to earn royalties on future sales. NFTs prevent unauthorized use or copying, adding value. The growing demand for digital assets and tokenization trends are driving the NFT market’s expansion. Companies are increasingly investing in digital assets, fueled by the Internet’s widespread use and rising Internet penetration. This growth is expected to continue, as tokenization enables digital representation of ownership for tangible or intangible assets.

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Research Analysis

The Non-Fungible Token (NFT) market is revolutionizing the way we buy, sell, and own digital assets. This innovative technology allows for the unique representation and ownership of electronic artworks, gaming items, and more on the blockchain. The gaming industry has embraced NFTs, enabling tokenization of in-game items and creating new revenue streams. NFTs are not limited to digital art and gaming; they can represent any unique digital asset. The Ethereum network is the leading platform for NFT creation and trade, utilizing blockchain technology and smart contracts. The legal framework surrounding NFTs is still evolving, with many questions regarding ownership, fraud, and distribution networks. Augmented Reality (AR), Virtual Reality (VR), and Extended Reality (XR) are expected to intersect with NFTs, allowing for experiences and new use cases. NFT vendors offer a wide range of digital assets, from digital property to cryptocurrencies and assets. The scarcity of NFTs adds value, making them desirable collectibles. As the market grows, decentralized finance and the Metaverse are likely to play significant roles. NFT suppliers and Magic Eden are some of the key players in this burgeoning industry. Stay tuned for more developments in this exciting space.

Market Research Overview

The Non-Fungible Token (NFT) market is revolutionizing the way we buy, sell, and own unique digital assets. This innovative technology allows for the creation and trade of digital art, collectibles, and property using blockchain technology. Artists, athletes, and celebrities are leveraging NFTs to monetize their digital creations and connect with fans in new ways. Augmented Reality (AR) and Extended Reality (XR) are enhancing the NFT experience, allowing collectors to interact with their digital assets in a more way. The gaming industry, media & entertainment industry, and collectibles market are seeing significant growth in the NFT space. NFTs are built on decentralized networks like Ethereum, ensuring transparency and security. They offer proof of ownership and scarcity, making them highly desirable for collectors. The use of smart contracts enables automated and trustless transactions. However, regulatory considerations and consumer protection are important as NFTs can represent various types of assets, from digital art and music to virtual real estate and collectibles. Fraud and taxation are also key considerations for investors. The NFT community is growing rapidly, with online platforms and third parties emerging to facilitate trading and distribution. The future of NFTs lies in their potential to tokenize games, virtual items, and even physical assets, creating a new digital economy in the metaverse.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ApplicationCollectiblesSportsArtsOthersEnd-userPersonalCommercialGeographyAPACNorth AmericaSouth AmericaEuropeMiddle East And AfricaType

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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Ubiqconn Co-hosts APSCC 2025, Marking 31 Years of Excellence in Asia’s Satellite Industry

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TAIPEI, March 14, 2025 /PRNewswire/ — The Asia-Pacific Space Community Council (APSCC), the largest and most influential satellite industry alliance in Asia, has celebrated over 30 years of leadership, continuously connecting space and satellite professionals across the Asia-Pacific region. APSCC’s members span various sectors, including communications, Earth observation, satellite services, and emerging space technologies, serving as a key platform for industry leaders to exchange insights on policy, technology, and innovation. As a unified voice, APSCC actively advocates for policies, regulations, and technical advancements aimed at strengthening and expanding the development of the space industry in the region.

APSCC’s First Invitation to Taiwan, Promoting Regional Cooperation and Innovative Development

For the first time, APSCC is being invited by Ubiqconn to hold its annual conference in Taiwan, which carries special significance for the satellite industry in Taiwan. This event will provide local enterprises with valuable opportunities for international exchange, helping them move towards global markets and showcasing Ubiqconn’s commitment to enhancing Taiwan’s position in the satellite industry.

Ubiqconn, as a leading satellite solutions provider, is proud to be one of only two members of APSCC in the Taiwan region and will serve as the main co-host for the APSCC 2025 conference scheduled for November 4th – 6th, 2025, in Taipei. This conference will showcase Ubiqconn’s innovative technologies in satellite communications and offer the latest collaboration and exchange opportunities for the satellite industry.

Ubiqconn Drives Taiwan’s Satellite Industry Forward at APSCC 2025 Conference

Ubiqconn is dedicated to promoting the development of Taiwan’s satellite industry. The hosting of the APSCC 2025 conference will provide Taiwanese satellite industry manufacturers with a platform to connect with international counterparts, facilitating the exploration of global satellite market opportunities. The event will gather industry experts, technology leaders, and policymakers from around the world, allowing participants to share the latest insights, technological trends, and best practices to foster exchange and collaboration.

Ubiqconn believes that through collaborative efforts, a solid foundation for the continued growth and innovation of Taiwan’s satellite industry will be established, contributing to further developments in Asia’s global satellite landscape.

About Ubiqconn Technology

Ubiqconn Technology is a leading provider of rugged mobile solutions, focusing on key industries such as satellite communication, agriculture, logistics, maritime, transportation, and government projects. We are committed to delivering value-added ODM/OEM services to critical enterprises and startups across various vertical markets, while also providing innovative solutions through our own brand, RuggON.

Ubiqconn Technology is dedicated to listening to customer needs and thinking from the client’s perspective. Upholding the vision of “Seamless Connectivity,” we strive to design solutions that effectively address customer pain points. We connect with industries, users, materials, supply chains, and ecosystems, executing agile go-to-market operations to help our clients realize their visions.

For more information, please visit our website: www.ubiqconn.com.

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SOURCE Ubiqconn Technology

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LOWELL OBSERVATORY RECOGNIZED AS ONE OF THE WORLD’S 100 GREATEST PLACES BY TIME

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FLAGSTAFF, Ariz., March 13, 2025 /PRNewswire/ — Today, TIME recognized Lowell Observatory in its annual list of the World’s Greatest Places, which highlights 100 extraordinary destinations to visit and stay. 

“Each year, TIME solicits nominations of places—including hotels, cruises, restaurants, attractions, museums, parks, and more—from its international network of correspondents and contributors, as well as through an application process, with an eye toward those offering new and exciting experiences,” describes the introduction to the list. “The result: 100 extraordinary destinations to stay and to visit this year.” Special consideration is given to new experiences.

Lowell Observatory, included in the “Places to Visit” section of the list, is highlighted in the introduction, “In Flagstaff, Ariz., The Lowell Observatory—famous as the site of Pluto’s discovery—now features an open-air planetarium, where visitors can get live commentary on that night’s sky from the comfort of heated seats.”

Lowell Observatory has been a leading center of astronomical research and education since its founding in 1894. The open-air planetarium is part of Lowell’s new public education facility, the Marley Foundation Astronomy Discovery Center, which opened this past November.

This recognition from TIME comes on the heels of Lowell Observatory also being voted as Newsweek’s Best Science Museum on March 6.

“Congratulations to Lowell Observatory for being named by TIME as one of the world’s 100 greatest places this year,” said Arizona Senator Mark Kelly. “For more than a century, Lowell Observatory has been at the forefront of space exploration and scientific discovery, inspiring generations of astronomers and deepening our understanding of the universe. This well-deserved honor reflects its lasting contributions to science and education. I am proud that Arizona is home to this world-class institution, and I look forward to seeing Lowell Observatory continue to push the boundaries of discovery.”

Arizona Governor Katie Hobbs said, “Congratulations to Lowell Observatory on this well-deserved recognition. For over 130 years, Lowell has led the way in astronomical research and education. It stands as a crown jewel of Arizona, yet its impact reaches far beyond, shaping science, education, the economy, and culture worldwide.”

Lowell Observatory was the first permanent scientific organization established in Flagstaff and laid the groundwork for the community to grow into a major center for astronomical research and education that now includes Northern Arizona University, the United States Geological Survey Flagstaff Science Campus, the Naval Observatory Flagstaff Station, and Coconino Community College, as well as the Flagstaff Dark Sky Coalition.

“The world will now know what Flagstaff has known for more than 100 years,” said Flagstaff Mayor Becky Daggett. “Planetary scientists and astronomers at Lowell Observatory are not only conducting innovative research, but the observatory’s education team is translating it into thrilling firsthand programming. The new Astronomy Discovery Center at Lowell Observatory guarantees that future planetary scientists and astronomers will be created right here in Flagstaff.”

TIME’s announcement comes on the 170th anniversary of the birth of Lowell Observatory founder Percival Lowell, who was born on March 13, 1855, and the announcement of Lowell Observatory’s discovery of Pluto on March 13, 1930.

“We are honored to be named as one of the world’s greatest places,” said Lowell Observatory Executive Director Dr. Amanda Bosh. “We think of Lowell Observatory as a portal between our world and other places in our solar system, galaxy, and universe. Our research brings space closer to us through our understanding of it, and we invite the public to join us in exploring the wonders of our universe as well.”

Links:
Lowell Observatory: lowell.edu
TIME Listing for Lowell Observatory: time.com/collections/worlds-greatest-places-2025/7263157/lowell-observatory
TIME World’s Greatest Places Full List: time.com/worldsgreatestplaces
Newsweek Announcement: newsweek.com/readerschoice/best-science-museum-2025
Flagstaff, Arizona: discoverflagstaff.com 

About Lowell Observatory
Founded in 1894, Lowell Observatory in Flagstaff, Arizona, is a renowned nonprofit research institution. It is the site of historic and groundbreaking discoveries, including the first evidence of the expanding universe and the discovery of Pluto. Today, Lowell’s astronomers utilize global ground-based and space telescopes, along with NASA spacecraft, for diverse astronomical and planetary science research. The observatory hosts more than 100,000 visitors annually for educational tours, presentations, and telescope viewing through a suite of world-class public telescopes.

About Flagstaff, Arizona
Flagstaff is a four-season destination that provides an ideal home base for visitors to explore some of the most spectacular scenery in the world, including the Grand Canyon and other national parks and monuments, Route 66, a charming historic downtown with trains, shopping, art galleries, events, music, restaurants and nightlife. This mountain town is the world’s first international dark-sky city and is also in the world’s largest ponderosa pine forest and surrounded by Native American culture. Please stay and play responsibly.

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SOURCE Lowell Observatory

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Statement From the Minister of Energy and Natural Resources on Atlantic Canada’s Hydrogen Opportunity

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OTTAWA, ON, March 13, 2025 /CNW/ – Hydrogen is expected to play a key role in powering the economy going forward, and momentum is underway around the world to secure strong, reliable suppliers. Clean hydrogen has the potential as an efficient fuel source to revolutionize key sectors, including heavy industry, energy production and transportation. With the demand for clean hydrogen projected to increase — projections indicate at least a tenfold increase in demand over the next three decades — Canada is uniquely positioned to meet this need. Atlantic Canada in particular is already seeing significant movement to seize the economic opportunity this presents for the region and is expected to create thousands of jobs.

By building on Canada’s long expertise in this area, along with the federal government’s strong support in this space, including the release of Canada’s first-ever hydrogen strategy, and Canada’s natural position as a leader in the resources necessary for clean and efficient production, countries like Germany are looking to Canada as reliable supplier of hydrogen they need to power their economy.

In March 2024, Canada and Germany signed an agreement to establish a jointly supported bilateral window to accelerate commercial-scale hydrogen trade, secure early access for clean Canadian hydrogen producers in the German market and support the good jobs that come with it while strengthening our two countries’ efforts to fight climate change and enhance energy security. Since then, we have made significant progress toward realizing these goals. In July 2024, the Government of Canada committed up to $300 million to this initiative to support clean hydrogen trade with Germany, with a matching $300-million contribution from Germany.

Last fall, the proposed auction parameters for the Canada–Germany clean hydrogen window were submitted to the European Commission. Canada has since been working collaboratively with Germany and the European Commission to complete the review of these parameters and allow the competitive auction process to be launched as soon as possible.

To support a strong hydrogen industry in Atlantic Canada, the federal government, working with provinces, has taken significant strides over the last year. In fall 2024, the federal government passed Bill C-49, which will help unlock the enormous potential of offshore renewable energy, which will enable the development of hydrogen and generate thousands of jobs while attracting billions in investment and creating new economic opportunities in Nova Scotia and Newfoundland and Labrador.

This legislation built on work that had already been done to unlock the power of offshore wind in Atlantic Canada, including the regional assessments, which published final reports earlier this year, laying the foundation for development of offshore wind in the region. Nova Scotia has passed mirror legislation, which came into force at the end of January 2025, which will allow it to deliver on its goal of conducting a first call for bids for offshore wind in 2025. Similar legislation is making its way through the Newfoundland and Labrador legislature.

In addition, the federal government has made investments over the past year to spur development of Atlantic Canada’s vast offshore wind potential. Canada, Nova Scotia and Newfoundland and Labrador also joined the Global Offshore Wind Alliance, which will allow us to gather lessons learned from countries with long-established offshore wind industries and to accelerate development.  

Canada’s abundant natural resources, reliable economy, skilled workers, long history as a leader in the hydrogen space and commitment to sustainability give us a competitive advantage with our international partners. Momentum is underway, and Atlantic Canada hydrogen players are well positioned to seize on these export opportunities. They will use Atlantic Canada’s abundant and untapped wind resources and immediate proximity to Atlantic shipping routes to build on our history as a reliable supplier and continue to power the world with the energy it needs.

The Honourable Jonathan Wilkinson
Minister of Energy and Natural Resources

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SOURCE Natural Resources Canada

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