Global NFT in E-Commerce Market Overview:
NFTs, or non-fungible tokens, are digital assets based on the blockchain that can be acquired with a digital wallet or cryptocurrency. In recent years, the popularity of NFTs has climbed to extraordinary heights. Owning a digital asset is a typical practice in the corporate sector. Since consumers miss the convenience of purchasing real things in stores and receiving them instantly, the e-commerce business can add NFT functionality by delivering a digital version of the physical goods being ordered to the consumer. Orders are sent to consumers within a few days of being placed.
- Increase in Use of NFT by E-Commerce will Reduce Logistics Cost
- Rapid Development in NFT-Based Decentralized Platform
- Cybercrime Pose a Threat to NFT in E-Commerce Market
- Elimination of Middle-Man Using NFT Platform
- Fewer Proportion of Consumers Own Cryptocurrency
The demand for NFT in E-Commerce Market is Increasing with each passing day. Businesses in this sector encounter Stiff competition on a global scale from market leaders who control a large share of the market. The Leading Players are engaged in organic and non-organic strategic global expansion to maintain their Market Position.
Some of the key players profiled in the report are Opensea (United States), Blockchain App Factory (India), Ethernity (Israel), Blockchain Australia (Australia), Superfarm (United States), Rarible (United States), Leewayhertz (United States), Hoard.Exchange (Denmark) and Appdupe (India). Additionally, following companies can also be profiled that are part of our coverage like Ekoios Technology (Vietnam), Antier Solution (India) and Mobiloitte (United States). Considering Market by Blockchain Type, the sub-segment i.e. Public will boost the NFT in E-Commerce market. Considering Market by NFT Type, the sub-segment i.e. DLT will boost the NFT in E-Commerce market.
In June 2021 Blockchain App Factory Released a Statement Announcing its Technological Advancement by merging Defi and NFT with Physically-Redeemable NFT Marketplace Development. the physically redeemable NFT marketplace is a next-generation marketplace that uses redeemable tokens to give the NFT market true worth. Users can generate and manipulate NFTs that are based on the value of real-world things. By upgrading eCommerce platforms that support the creation and trading of NFTs, an ecosystem may be created. It combines the powerful power of blockchain technology with the digital NFT and real-world tangible objects.
What Can be Explored with the NFT in E-Commerce Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global NFT in E-Commerce Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in NFT in E-Commerce
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
The top-down and bottom-up approaches are used to estimate and validate the size of the Global NFT in E-Commerce 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 NFT in E-Commerce 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 Venture and Capitalist, New entrants/investors, Analysts and Strategic Business Partners and End-use industries.
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.
Frequently Asked Questions (FAQ):1. What is the growth rate predicted for the Global NFT in E-Commerce Market?
The NFT in E-Commerce market is expected to see a CAGR of % during projected year 2020 to 2026.
2. Who are the top performing companies in NFT in E-Commerce Market?
Top performing companies in the Global NFT in E-Commerce market are Opensea (United States), Blockchain App Factory (India), Ethernity (Israel), Blockchain Australia (Australia), Superfarm (United States), Rarible (United States), Leewayhertz (United States), Hoard.Exchange (Denmark) and Appdupe (India), to name a few.
3. What trending factors would impact NFT in E-Commerce Market growth most?
"Application of AR in NFT in E-Commerce" is seen as one of major influencing trends for NFT in E-Commerce Market during projected period 2020-2026.