Global Digital Collectibles Market Overview:
A unique or limited-edition replica of a digital item is referred to as a digital collectible. Usually, there is some sort of visual component, such as digital art, a video clip, or a digital trading card. Technically, it might be digital music recordings or anything else represented by 1s and 0s. Blockchain technology is used to produce non-fungible tokens for digital valuables that permit distribution and ownership transfers. In other words, unlike conventional computer data, digital collectibles cannot be copied, but one owner can readily transfer ownership to another. As a result, collectors can control the conditions for transferring ownership or using their digital art, ensuring that it remains unique. The increasing influence of celebrities to fuel the momentum of NFT adoption, and revolutionizing the blockchain gaming industry are some factors that are driving the market.
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Forecast Period | -2027 |
Historical Period | 2017-2021 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Influencing Trend:
Continuing Rise in Demand for Digital Artworks, Growing Interest in the Digital Collectibles Ranged From Hollywood Celebrities to Institutional Buyers and Easy Accessibility to Trade
Market Growth Drivers:
Increasing Influence of Celebrities to Fuel Momentum of NFT Adoption and Revolutionizing Blockchain Gaming Industry
Challenges:
High and Hidden Fees and Lack of Legal Representation, Absence of Compliance, And Regulations for Digital Collectibles
Restraints:
Issues with Copyright Protection
Opportunities:
Increasing Use Cases of NFT in Supply Chain Management, Retail, and Fashion, Efforts of Industry Giants toward Making Metaverse A Reality and Personalization of NFT
Competitive Landscape:
Global Digital Collectibles is a fragmented market due to the presence of various players. The players are focusing on strategic activities like partnerships, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge.
Some of the key players profiled in the report are OpenSea (United States), Axie Infinity (Vietnam), Larva Labs (United States), NBA Properties, Inc. (Canada), Rarible (United States), SuperRare (United States), Foundation.app (United States), Nifty Gateway (United States), Mintable (Singapore) and Theta Labs, Inc (United States). Additionally, following companies can also be profiled that are part of our coverage like Axie Infinity (Vietnam), Remooz Inc (United States), Art Blocks (United States), Mintbase (Germany), Appdupe (India), Cryptokitties (Canada) and Sorare (France). Considering Market by Industry, the sub-segment i.e. Music NFT Market will boost the Digital Collectibles market. Considering Market by Sales Channels, the sub-segment i.e. Licensed Collectible Manufacturers will boost the Digital Collectibles market. Considering Market by Buying, the sub-segment i.e. Primary Market will boost the Digital Collectibles market.
Latest Market Insights:
In April 2022, OpenSea, the largest NFT marketplace, acquired NFT aggregator Gem.xyz (Gem) to better serve its more experienced users. The deal, which comes a few months after OpenSea bought DeFi wallet start-up Dharma Labs, will allow OpenSea to learn from Gem’s expertise and intuition about the advanced NFT community.
In July 2022, Remooz Inc., launched its Minimum Viable Product (MVP), the Remooz NFT marketplace platform at remooz.com. The smart NFT marketplace allows for a user-friendly, highly accessible, and socially engaging platform where digital assets are traded in U.S Dollars, e-commerce style, and Utility NFTs are greatly encouraged as the future of NFTs.
What Can be Explored with the Digital Collectibles Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Digital Collectibles Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Digital Collectibles
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Digital Collectibles market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Digital Collectibles market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Digital Collectibles Developers, Industry Verticals, Potential Investors and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.