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NFT - China

China
  • Revenue in the NFT market is projected to reach US$8.65m in 2024.
  • Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 9.05% resulting in a projected total amount of US$12.24m by 2028.
  • The average revenue per user in the NFT market amounts to US$320.90 in 2024.
  • From a global comparison perspective it is shown that the highest revenue is reached United States (US$1.12bn in 2024).
  • In the NFT market, the number of users is expected to amount to 28.31k users by 2028.
  • User penetration will be 0.0% in 2024 and is expected to hit 0.0% by 2028.

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. NFTs are predominantly traded and exchanged in NFT marketplaces, such as Opensea, Rarible, and Foundation.
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. Companies that only facilitate the exchange of decentralized finance (DeFi) or Web 3.0 tokens are also excluded from the scope of this market.

In-Scope

  • NFT marketplaces (Opensea,Rarible, etc.)
  • Metaverse NFTs (Axie Infinity, Sandbox, Decentraland, etc.)

Out-Of-Scope

  • Cryptocurrencies
  • Trading platforms that only with B2B services
  • Decentralized finance
  • Web 3.0
FinTech

FinTech

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Revenue

Notes: Data was converted from local currencies using average exchange rates of the respective year.

Most recent update: Mar 2024

Source: Statista Market Insights

Most recent update: Mar 2024

Source: Statista Market Insights

Notes: The chart “Comparable Estimates” shows the forecasted development of the selected market from different sources. Please see the additional information for methodology and publication date.

Most recent update: Apr 2024

Users

Most recent update: Mar 2024

Source: Statista Market Insights

Global Comparison

Most recent update: Mar 2024

Source: Statista Market Insights

Key Players

Most recent update: Mar 2024

Source: Statista Market Insights

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on transaction values / revenues / assets under management and user data of relevant services and products offered within the FinTech market.

Modeling approach / Market size:

Market sizes are determined through a combined top-down and bottom-up approach, building on a specific rationale for each market segment. As a basis for evaluating markets, we use annual financial reports of key players, industry reports, third-party reports, publicly available databases, and survey results from primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, population, internet penetration, smartphone penetration, credit card penetration, and online banking penetration. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption.

Additional notes:

The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war is considered at a country-specific level.

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