The global non-fungible token (NFT) market was valued at USD 26.9 billion in 2023 and is projected to expand at a CAGR of 34.5% from 2024 to 2030. NFTs, which are unique cryptographic tokens on the blockchain, represent individual identities, property rights, and more. Key factors driving market growth include the rising adoption of cryptocurrencies, growing interest in Web 3.0, the metaverse, decentralized finance, and the increasing popularity of NFT marketplaces.
