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Non-Fungible Token (NFT) Market to Grow by USD 84.13 Billion from 2025-2029, Increasing Demand for Digital Art Boosts Market, AI’s Impact – Technavio

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NEW YORK, Feb. 5, 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 (NFTs) have taken the art, athletes, and celebrities world by storm. These digital assets, represented by unique codes on a blockchain, bring scarcity and ownership to digital artworks, collectibles, and even virtual real estate. The gaming industry and media & entertainment sector have embraced NFTs, with Ethereum network leading the charge. NFTs allow for the tokenization of games, trading cards, and virtual items, creating new revenue streams for creators and investors. Augmented Reality (AR) and Extended Reality (XR) are set to revolutionize the NFT space, allowing consumers to experience digital property in new ways. The NFT community is growing, with online platforms providing distribution networks and smart contracts ensuring secure, decentralized transactions. However, regulatory considerations are crucial. Intellectual property rights, securities laws, and consumer protection are key areas of focus. Proof of work and proof of stake are the two main consensus mechanisms, with proof of stake becoming increasingly popular due to its energy efficiency. The NFT market is not without challenges. Fraud and regulatory uncertainty remain concerns. The White House has acknowledged the potential of NFTs, but a clear legal framework is needed. Taxation and logistics are also important considerations. Despite these challenges, the future of NFTs is bright. They represent a new frontier in decentralized finance, enabling the tokenization of physical assets like art, houses, and vehicles. As the NFT market matures, it will undoubtedly disrupt industries, from the art world to the sports collectibles market and beyond. 

Big brands such as Visa Inc. And Budweiser are increasingly exploring the potential of Non-Fungible Tokens (NFTs) as a new revenue stream. The appeal lies in the ability to offer unique digital assets as rewards to consumers. Brands like eBay Inc. And Amazon.com Inc., being digitally native, are also showing interest in this trend. The shift toward Web 3.0 and the growing number of e-commerce transactions are expected to fuel the adoption of NFTs, leading to an increase in market transactions and the expansion of the global NFT market. 

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Market Challenges

Non-Fungible Tokens (NFTs) have revolutionized the art, collectibles, and media & entertainment industries by enabling unique digital ownership. Artists, athletes, celebrities, and even regular users can create and sell digital artworks, collectibles, and virtual items as scarce, authentic, and valuable assets. Blockchain technology, such as Ethereum network, provides transparency, security, and immutability. However, challenges exist. Intellectual property rights, consumer protection, regulatory considerations, and securities laws need clearer frameworks. Fraud and third-party involvement are concerns. Logistics, taxation, and distribution networks require streamlining. Cryptocurrencies and NFTs’ integration with decentralized finance, gaming industry, and metaverse needs careful planning. Proof of work vs proof of stake, and the role of smart contracts, are ongoing debates. The NFT community, media, and entertainment industry, and even The White House, are exploring the potential of NFTs in areas like music, virtual real estate, and more. Ultimately, NFTs offer exciting opportunities, but addressing these challenges is crucial for their long-term success.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 buyer perception. For new sellers, it is difficult to anticipate the identity of potential buyers or the factors driving their purchases. As a result, NFT pricing is subject to fluctuation based on buyer perception. With the NFT market still in its early stages, it is challenging for new investors to forecast future trends in pricing. The uncertainty surrounding NFT valuation adds complexity to an already volatile market.

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Segment Overview 

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

ApplicationCollectiblesSportsArtsOthersEnd-userPersonalCommercialGeographyAPACNorth AmericaSouth AmericaEuropeMiddle East And AfricaTypePhysical AssetDigital Asset

1.1 Collectibles-  Non-Fungible Tokens (NFTs) are unique digital collectibles, minted on the Blockchain with limited editions or rarity. Owners have exclusive rights to sell their NFT collectibles, and vendors offer online platforms for buying and selling. NFTs cannot be exchanged or copied without permission. The market’s growth is driven by the increasing demand for digital assets, with industries going digital and the ubiquity of the Internet. Tokenization, which creates digital tokens representing ownership, further fuels growth. Key features include royalty payments to NFT owners and prevention of unauthorized use. These factors are expected to drive the NFT market’s expansion.

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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 digital artworks, gaming items, and other electronic assets on the blockchain. The gaming industry has embraced NFTs, enabling tokenization of in-game items and creating new revenue streams. NFTs are built on decentralized networks like Ethereum, utilizing blockchain technology and cryptocurrencies for secure transactions. The legal framework surrounding NFTs is still evolving, but ownership is verified through the blockchain, ensuring scarcity and authenticity. NFTs can also be experienced in Augmented Reality (AR), Virtual Reality (VR), and Extended Reality (XR) environments, adding new dimensions to digital property. However, the market is not without challenges, including potential fraud and the need for distribution networks. Major players include NFT vendors and suppliers, who facilitate the buying and selling of these unique tokens. The Metaverse and Decentralized Finance (DeFi) are also key areas of growth for NFTs, offering new opportunities for creators and investors alike. Magic Eden is an example of a popular NFT marketplace, providing a platform for buying, selling, and discovering new NFTs.

Market Research Overview

The Non-Fungible Token (NFT) market is a revolutionary digital ecosystem where Art, artists, Athletes, and various industries intersect. This decentralized platform, built on blockchain technology, enables the creation, ownership, and trading of unique Digital Assets. These assets can range from Digital Artworks and Collectibles to Virtual Real Estate and Virtual Items, including Painting, Music, Vehicle, and even House. NFTs leverage blockchain’s transparency and security, providing proof of ownership and scarcity for Digital Property. The Ethereum network is a popular choice for NFT creation due to its smart contract capabilities. Augmented Reality (AR) and Extended Reality (XR) enhance the NFT experience, allowing users to interact with their Digital Assets in new ways. The NFT marketplace caters to various industries, including the gaming industry, media & entertainment, and the sports world. Investors, celebrities, and consumers are drawn to this space due to its potential for Decentralized Finance, Intellectual Property ownership, and Tokenization of Games. However, the NFT market also faces challenges, such as Regulatory Considerations, Fraud, and Legal Frameworks. Securities laws, Taxation, and Consumer Protection are crucial aspects that need to be addressed. The NFT community, Online Platforms, and Third Parties play significant roles in shaping the future of this burgeoning market. The NFT market extends beyond the digital realm, influencing the Physical Assets sector and even reaching The White House. As the market continues to evolve, it will impact various industries, from Cryptocurrencies and Cryptocurrencies/assets to the Music, Video games, and Sports Collectibles industries. The NFT market’s potential is vast, offering a new way to distribute, trade, and experience Digital Assets in the Metaverse and beyond.

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 AfricaTypePhysical AssetDigital Asset

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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Crunchie Meltz Champions Women Leaders at Her Courage Leaders Summit 2025

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SINGAPORE, March 14, 2025 /PRNewswire/ — Homegrown artisanal brownie brand Crunchie Meltz is stepping up to support women in leadership as an official partner of the Her Courage Leaders Summit 2025 by Class Living, happening on April 5, 2025. The summit, which celebrates resilience, leadership, and empowerment among women, aligns with Crunchie Meltz’s vision of creating a positive community impact beyond just sweet treats.

The event will bring together inspiring women leaders, entrepreneurs, and change-makers to share their stories, and Crunchie Meltz will be contributing in a special way—crafting exclusive brownies for the summit’s participants as a symbol of encouragement and perseverance. This partnership marks a significant moment for the artisanal brand, highlighting its commitment to not only baking but also creating meaningful connections within the community.

Beyond Brownies: Crunchie Meltz Expands Community Initiatives

This latest collaboration underscores Crunchie Meltz’s growing commitment to using baking as a force for good. Co-founders Simon Yio and Chef Evon Chan are not only passionate about their artisanal brownies but also about fostering meaningful experiences through baking. Their vision is to create more than just a business; they aim to craft memories, inspire change, and build connections through the simple joy of delicious, thoughtfully made treats.

Building on this momentum, Crunchie Meltz is also partnering with a local training company, ThinkBox Solutions and Class Living to develop an innovative Parent-Child Bakery Program. The initiative, set to launch later this year, will give families the opportunity to bond over shared experiences in the kitchen, learning the secrets behind the brand’s signature brownies. “We believe baking is more than just a craft — it’s a way to bring people together,” says Simon Yio, Co-Founder of Crunchie Meltz. “Whether it’s supporting women leaders at Her Courage Leaders Summit or creating meaningful parent-child experiences, we want to make an impact beyond our brownies.”

Customer Review: A Sweet Success

Crunchie Meltz’s focus on quality and flavour continues to win the hearts of dessert lovers. Here’s what one of our loyal customers, Amar Kumar, had to say about our signature brownie:

“This brownie with a cookie top is amazing! The brownie is rich, fudgy, and perfectly sweet, while the cookie on top is warm, chewy, and golden on the edges. The combination of the soft brownie and the slightly crisp cookie is just perfect. Each bite is a delicious mix of flavors and textures, with the chocolatey brownie and buttery cookie blending so well. It’s a sweet, satisfying treat that’s hard to resist—one of the best desserts you’ll ever try!”

Such enthusiastic responses from customers have fuelled Crunchie Meltz’s success and reinforced its mission to spread joy through every bite.

A Growing Brand with a Heart

Since its launch in September 2024, Crunchie Meltz has garnered over 60 positive reviews across Google and Facebook, with foodies and dessert enthusiasts praising the brand’s dedication to quality, taste, and presentation. The brand’s signature treats, including CookieCrunch, ChocoCrunch, CrunchieDark brownies and FlorenCrunch, a healthy snack baked with nuts and seeds, continue to delight customers, offering a delightful balance of textures and flavours.

Looking ahead, Crunchie Meltz has exciting plans for further expansion, including the launch of its “Bake for Hope” CSR program in early 2026. This initiative aims to use baking as a platform to support social causes and give back to the community. As the company grows, Crunchie Meltz remains committed to making a lasting, positive impact — one brownie at a time.

About Crunchie Meltz

Crunchie Meltz is a homegrown artisanal brownie brand celebrated for its rich, chocolatey treats crafted with care and the finest ingredients. From the classic ChocoCrunch to the decadent CrunchieDark and the innovative CookieCrunch, each brownie is baked to perfection with a unique touch.

Whether for corporate gifting, special occasions, or personal indulgence, Crunchie Meltz delivers moments of sweetness and joy to customers across Singapore. With a focus on quality, community, and connection, Crunchie Meltz continues to grow and inspire, proving that a small business with a big heart can create a lasting impact.

For more information, visit www.crunchiemeltz.sg

 

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Wat Arun Beyond Reality Step into a Virtual Journey Like Never Before

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BANGKOK, March 14, 2025 /PRNewswire/ — In a bid to promote cultural tourism, a team led by researchers from Chulalongkorn University has incorporated cutting-edge Virtual Reality (VR) technology to bring Wat Arun to life. Through the “Temple of Dawn VR Game” project, visitors can explore exclusive, restricted areas of the temple and appreciate the historical, cultural, and architectural beauty of one of Thailand’s most prominent landmarks.

Wat Arun VR Game: Revealing Unseen Experiences 

Among Thailand’s iconic landmarks, Wat Arun, also known as the Temple of Dawn, holds immense cultural and historical significance. The temple’s mesmerizing corn-shaped stupa rises dramatically from the bank of Chao Phraya River, captivating all who visit.   

Wat Arun is one of the major landmarks I usually bring foreign friends and international guests to visit. Many were impressed when I shared the temple’s historical and cultural details. This made me realize that without a guide, many tourists would miss enticing information about the temple’s history and architecture,” shared Dr. Ratchaneekorn Ratchatakorntrakoon, researcher at the Institute of Thai Studies, Chulalongkorn University

As the mastermind behind the project, Dr. Ratchaneekorn hopes the VR game will enrich visitors’ experiences while promoting learning and cultural tourism. 

A New Perspective Through Virtual Reality 

Building on her previous experience in creating VR applications at Chulalongkorn University’s Memorial Hall, Dr. Ratchaneekorn recognized VR technology’s potential to revolutionize storytelling.  

“This project aims to provide an immersive storytelling experience, bringing the temple’s stories and heritage to life,” she explained. 

According to the project’s tagline, “Reveal Unseen Experiences”, the Temple of Dawn VR Game allows tourists exclusive access to areas typically off-limits. These include: 

The top of the central corn-shaped stupa  The interiors of the directional pavilions housing Buddha images A bird’s-eye view of Wat Arun, offering new perspectives on its intricate architecture 

The project employs cutting-edge 3D scanning technology to recreate a virtual space of Wat Arun, enabling users to:  

Explore restricted areas Learn about the stupa’s architecture Discover stories of Buddha’s life depicted within the temple 

Overcoming Challenges: Technology Meets Tradition 

Dr. Ratchaneekorn identified two key challenges in developing the Temple of Dawn VR Game:     

Technical Limitations: Large 3D files slowed development process. The engineering team had to compress files and adjust textures for compatibility. Cultural Understanding: Tourists unfamiliar with Thai cultural norms sometimes behaved inappropriately at the temple.  

Despite these challenges, the project was successfully completed and had been introduced to tourists for trial. “Tourists gave positive feedback during the testing phase, appreciating the opportunity to engage with Wat Arun in previously unavailable ways,” Dr. Ratchaneekorn noted.  

How to Play: The Temple of Dawn VR Game  

Designed as a multi-player game, The Temple of Dawn VR experience mirrors real-life tourist dynamics, as visitors often come in pairs or groups.  Solo visitors can team up with on-site project coordinators.

The Temple of Dawn VR game includes four sub-games: 

The Old Sermon Hall (Vihan-Noi)  The Old Ordination Hall (Ubosot-Noi) The Directional Pavilions The Central Prang 

Each sub-game includes an introduction, game rules, missions to accomplish, knowledge gained, and knowledge summaries.   

Each game session lasts approximately 5-7 minutes. Players can choose one or multiple sub-games. After completing the VR experience, visitors return the document.

Educational Opportunities and Cultural Impact 

Dr. Ratchaneekorn concluded that the Temple of Dawn VR Game provides significant educational and cultural benefits:   

For Tourists: Enhances their understanding of Thai culture and encourages respectful behavior in temples. For Tour Guides: Equips guides with deeper insights to enrich visitor experiences. For Students: Supports academic research and offers practical experience in VR development. For Society: Serves as an educational tool to explore the biography of the Lord Buddha. 

Looking Ahead: A Sustainable Cultural Asset

The final version of the VR application will be soon handed over to Wat Arun. Plans are underway to train temple staff on system operation. Although set to be available for visitors this November, access to the VR game may initially be limited due to the high cost of VR headsets and specialized equipment.  

“Our long-term goal is to make this innovative tool a sustainable asset that preserves cultural heritage while engaging a global audience,” said Dr. Rachaneekorn. 

For more information about the Temple of Dawn VR game, contact: Dr. Ratchaneekorn Ratchatakorntrakoon at ratchaneekorn.r@chula.ac.th or the Institute of Thai Studies, Chulalongkorn University at 02-218-7494. 

Read the full article at https://www.chula.ac.th/en/highlight/218322/

About Chulalongkorn University

Chulalongkorn University has made the world’s top 50 university list for employment outcomes, which reflects both the high employment rate and work ability of Chula graduates. The university is also listed as the best in Thailand for the 15th Consecutive Year (since 2009), according to the newly released QS World University Rankings 2024, putting Chula at 211th in the world, up from 244th last year.

Social Media: 
Facebook: https://www.facebook.com/ChulalongkornUniversity
Youtube: https://www.youtube.com/chulauniversity
Linkedin: https://www.linkedin.com/school/15101896/

 

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Agoda Offers Free Tickets for Hong Kong Fans to See NCT WISH, THE BOYZ, n.SSign and More at Seoul Spring Festa

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HONG KONG, March 14, 2025 /PRNewswire/ — Digital travel platform Agoda is giving K-pop fans in Hong Kong a reason to cheer with an exclusive offer to attend the Seoul Spring Festa’s opening concert, WONDER SHOW, which will take place on Wed, Apr. 30 at Seoul World Cup Stadium.

Fans from Hong Kong, Mainland China, Taiwan, and Japan can snag two free tickets per booking to the highly anticipated event featuring K-pop artists NCT WISH, THE BOYZ, n.SSign, TWS, NMIXX, god, STAYC, ALL(H)OURS, NEXZ, KickFlip, Hearts2Hearts, NouerA, KiiiKiii and more to be announced*. Travelers can secure the free tickets through the ‘Agoda x Wonder Show’ special room package available via participating properties on Agoda. The offer will be available starting March 17 to April 11, 2025, for check-ins between April 21-30, 2025, and includes an additional discount of up to 15% off accommodations.

The Seoul Spring Festa, a city-wide celebration of Korean culture, food, and entertainment, culminates in the Wonder Show on April 30, 2025. This year’s lineup promises an unforgettable evening with performances by NCT WISH, known for their electrifying stage presence; THE BOYZ, celebrated for their dynamic choreography; and n.SSign, the rising stars captivating fans across Asia, and many more. Pre-sale tickets for the event have already sold out, making Agoda’s offer a golden opportunity for fans to experience the magic of K-pop live.

Jay Lee, Country Director, South Korea at Agoda, shared, “K-pop is more than just a genre—it’s an experience, and Agoda is making it even more accessible for fans in Hong Kong. With free tickets to the Seoul Spring Festa Wonder Show featuring NCT WISH, THE BOYZ, n.SSign, and others, plus amazing hotel discounts, we’re making it easier than ever to turn a love for K-pop into an unforgettable adventure in Seoul.”

In addition to the Wonder Show, travelers can enhance their Seoul experience by booking the Discover Seoul Pass on Agoda. This all-in-one pass is designed for travelers looking to make the most of their time in Seoul with access to major attractions, transportation, and connectivity, ensuring visitors can explore the city with ease and convenience.

With over 5 million holiday properties, more than 130,000 flight routes, and over 300,000 activities available, Agoda offers everything travelers need to plan their perfect trip. For more information on this exclusive offer and to book your stay, visit Agoda.com or download the Agoda mobile app for the best deals.

* The lineup for the Seoul Spring Festa Wonder show is subject to change.

— ENDS —

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