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Non-fungible token (NFT) is a unique identifier that represents ownership of real-world or digital assets, such as art, music, collectibles, in-game items, and even real estate. These tokens are cryptographically secured in a blockchain (Ethereum, Solana, Avalanche, etc.), and the cryptocurrency of the underlying blockchain is used for NFT transactions.
NFT marketplaces require digital onboarding of their clients and do not have physical branches to provide consultations and services to their customers. Nevertheless, it is not mandatory for their potential clients to have a smartphone to open an account. The marketplaces usually charge a fee for their services, and these platforms can be accessed via a desktop website.
Within our market scope, we focus only on NFT marketplaces that provide either exclusively B2C or both B2B and B2C services; those that work solely with B2B clients are excluded from the market.
NFTs are predominantly traded and exchanged in NFT marketplaces, some of the keyplayers are Opensea, Rarible, Axie Marketplace and Foundation.
Figures have been rounded.
All figures are estimates.
