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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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SOURCE Technavio

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State Grid Jinchang Power Supply Company Ensures Power Supply for May Day Tourism

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16 minutes ago

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April 29, 2026

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JINCHANG, China, April 29, 2026 /PRNewswire/ — As the May Day International Labor Day approaches, State Grid Jinchang Power Supply Company has fully launched special power supply guarantee work in key cultural and tourism areas, closely integrating local characteristics such as Gobi ecology, Silk Road culture and suburban comprehensive cultural tourism formats, to fully protect the safety of cultural and tourism travel during the holiday.

Focusing on the actual needs of pre-holiday cultural and tourism travel, the special inspection takes into account the differences in power consumption of diverse scenarios including Silk Road sightseeing, Gobi leisure and research experience, and strictly implements standardized power operation and maintenance processes. The service team divides areas to clarify responsibilities, focusing on inspecting key locations such as crowded scenic spots, convenient service stations and intangible cultural heritage performance venues, and checks the operation of core equipment such as power distribution boxes, low-voltage lines and emergency backup power supplies one by one. Considering Jinchang’s regional climate characteristics of frequent sandstorms and large temperature differences between day and night, it focuses on verifying the integrity of outdoor line insulation protection and wind, dust and lightning protection devices, and simultaneously investigates potential hazards such as old lines and temporary power use, ensuring immediate rectification and full coverage without blind spots.

In response to the upsurge of suburban self-driving camping and short-distance trips during the holiday, the company focuses on upgrading and verifying public new energy charging piles along scenic routes and suburban main roads. Staff inspect each charging pile’s main module, intelligent metering terminal, safe grounding circuit and outdoor waterproof and dustproof components, conduct on-site practical tests on core charging performance such as emergency power-off self-locking and peak-valley load adaptation, and simultaneously clean up debris around the piles, maintain lines and check peripheral hazards such as aging and loose interfaces. It also specially verifies the continuous operation capacity under high passenger flow and high intensity, ensuring uninterrupted 24-hour charging services, solidifying the reliable power guarantee for cultural and tourism travel, and helping the upgrading of suburban cultural and tourism formats.

View original content:https://www.prnewswire.com/apac/news-releases/state-grid-jinchang-power-supply-company-ensures-power-supply-for-may-day-tourism-302756694.html

SOURCE State Grid Jinchang Power Supply Company

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Power Guarantee Accelerates Commissioning of Jinchang’s 200,000-Ton Dairy Processing Project

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16 minutes ago

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April 29, 2026

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JINCHANG, China, April 29, 2026 /PRNewswire/ — On April 22, State Grid Jinchang Power Supply Company worked with relevant personnel of the 200,000-ton annual dairy processing project in Jinchuan District, Jinchang City, to carefully verify key power support matters before the project is put into operation.

Since the planning of the project, State Grid Jinchang Power Supply Company has taken the initiative to provide front-line services and launched a dedicated service program for key projects. A special service team was established to finish on-site investigation within three days and design a tailor-made power supply plan.

The company opened a green channel for power application and installation services, shortening the conventional 45-day service process to 18 days, strongly boosting the early start of the project.

In the construction period, the company’s Party member service team offered regular on-site technical guidance, investigated and rectified over ten hidden dangers in construction power consumption, and organized special training for electricians, building a solid line of defense for power safety.

Entering the critical commissioning phase in April, the company carried out an all-round inspection of power equipment in the factory, formulated a targeted power guarantee plan for equipment commissioning, and implemented a 24-hour duty system to remove power supply obstacles for equipment debugging.

“The power supply team always thinks ahead and delivers practical support, solving all our power consumption problems,” the project leader commented positively.

In the next stage, State Grid Jinchang Power Supply Company will continue to track the follow-up power demand of the project. Through high-quality and stable power supply, it will help upgrade the quality and efficiency of Jinchang’s agriculture, forage and animal husbandry industrial chain, and inject sustained impetus into high-quality local development.

View original content:https://www.prnewswire.com/apac/news-releases/power-guarantee-accelerates-commissioning-of-jinchangs-200-000-ton-dairy-processing-project-302756716.html

SOURCE State Grid Jinchang Power Supply Company

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Seven Extreme Tests, Full‑Scenario Ecosystem: Sungrow Redefines C&I ESS Reliability at GRES

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April 29, 2026

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HEFEI, China, April 29, 2026 /PRNewswire/ — At the 2026 Global Renewable Energy Summit, Sungrow unveiled its full-scenario commercial and industrial (C&I) ecosystem, centered around the newly launched PowerKeeper series—a modular C&I energy storage system that achieves 0 waste in both investment and green power utilization, ensures 0 outage for C&I electricity consumption, and delivers a hassle-free experience through 7 upgrades (7Ups) across the entire lifecycle, ultimately maximizing returns for customers.

As an industry breakthrough, PowerKeeper is the first modular C&I ESS to successfully pass seven extreme challenge tests. This milestone embodies Sungrow’s “007” value proposition—redefining reliability standards for C&I energy storage.

Seven Extreme Challenges: Making Safety Invisible, Yet Fundamental

Energy storage systems are built for a 20+ year lifecycle, during which exposure to extreme weather, physical impacts, and unexpected incidents is inevitable. True reliability lies in proactively validating performance under the harshest conditions.

PowerKeeper inherits Sungrow’s comprehensive full-lifecycle safety system. With over 700 pre‑delivery tests, every unit is engineered for durability and resilience. The seven extreme tests cover the entire lifecycle and a wide range of real-world scenarios, structured across three critical dimensions:

Environmental Resilience: Reliable Performance in Harsh Natural ConditionsMaintains stable operation after 24-hour immersion in 50 cm of waterDelivers full power without derating across temperatures from -20°C to 40°CStructural Integrity: No Fire or Explosion, Even When Knocked or DroppedEndures a 250 kg pendulum impact with only minor surface damage, no structural compromise, and no abnormal temperature riseWithstands repeated drops from heights ranging from 1.6 m to 5 m, maintaining structural integrity and thermal stabilityIntrinsic Safety: No Fire spread, No Explosion Splash, Even in Worst-Case ScenariosAn integrated aerosol fire suppression system rapidly suppresses internal ignitionAfter removing internal suppression, flames self-extinguish without spreadingSystem-level active venting design in PV+ESS configurations prevents debris projection, safeguarding both personnel and equipment

From Pre- to Post-Commissioning: Flexible, Simple, Profitable

Pre-commissioning:
PowerKeeper offers exceptional flexibility from the outset, with configurable capacities ranging from 50 kWh to 1,000 kWh and durations spanning 2 to 8 hours. It can be deployed as ESS-ready, PV+ESS, or PV-ready, enabling businesses to align system configuration with their investment pace and evolving energy strategies.At commissioning:
Installation is streamlined through both modular hardware design and intelligent digital tools. On the hardware side, the industry-first configuration of 12.5 kWh single modules or 50 kWh pre-built stacks significantly reduces installation complexity and labor costs. In contrast, seamless back-to-back installation supports four flexible layouts, making it ideal for space-constrained environments.
On the software side, iSolarDesign enables rapid and intelligent system planning within just 10 minutes—while iSolarCloud simplifies grid connection to a three-step process that can be completed in five minutes. A unified platform with a 24/7 AI assistant further enhances operational efficiency by pinpointing faulty modules at the source, enabling faster and more precise O&M.Post-commissioning:
Once operational, PowerKeeper continues to maximize value through both performance and intelligent optimization. A 2.0 DC/AC ratio delivers up to 1.5 times higher power output, while 10 ms seamless switching ensures reliable off-grid operation when needed. In addition, AI-driven multi-revenue strategies—including peak shaving, demand charge management, and frequency response—work in tandem with integrated hardware and software to continuously enhance overall returns.

Full-Scenario Eco-Synergy: Sungrow C&I ESS Family

PowerKeeper, together with the PowerStack 255/510CS and PowerTitan series, forms Sungrow’s comprehensive C&I ESS portfolio. The solution supports a wide range of applications—from standalone ESS and PV+ESS to PV+ESS+EV charging and microgrids—covering voltage levels from 400 V to 35 kV. PowerKeeper is now available across Europe, Asia-Pacific, and the Middle East and Africa.

Dr. Cao Wei, GM of Sungrow’s C&I ESS Product Line, stated: “We build a full-scenario C&I ESS ecosystem because every application deserves a tailored solution. The seven extreme tests reflect our unwavering commitment to one core belief: safety is the greatest luxury.”

Sungrow remains committed to empowering industries worldwide with reliable, high-performance C&I energy storage solutions—working together to accelerate the transition toward a sustainable future.

About Sungrow

Sungrow, a global leader in renewable energy technology, has pioneered sustainable power solutions for over 29 years. As of Dec 2025, Sungrow has installed over 1000 GW of power electronic converters worldwide. The company is recognized as the world’s most bankable PV inverter and energy storage company (BloombergNEF). Its innovations power clean energy projects across the globe, supported by a network of 520 service outlets guaranteeing excellent customer experiences. At Sungrow, we’re committed to bridging to a sustainable future through cutting-edge technology and unparalleled service. For more information, please visit: www.sungrowpower.com/en

 

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SOURCE Sungrow

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