According to the Q2 2022 NFT Survey, NFT industry in United Kingdom is expected to grow by 48.7% on an annual basis to reach US$1725.2 million in 2022.
The NFT industry is expected to grow steadily over the forecast period, recording a CAGR of 34.5% during 2022-2028. The NFT Spend Value in the country will increase from US$1725.2 million in 2022 to reach US$9257.0 million by 2028.
The non-fungible tokens (NFT) market has recorded significant growth over the last 12 months globally, and the trends are similar in the United Kingdom. With the growing popularity of digital assets among people across different age groups, the market has recorded strong transaction value and volume. This trend is expected to accelerate as innovative startups with strong business models continue to enter the United Kingdom NFT industry.
The NFTs have grown into prominence across different industry verticals in the United Kingdom. From sports to real estate and even entertainment, every industry finds an innovative NFT use case. This NFT uses cases to support the growth of the market in the country. Moreover, as NFT startups continue to innovate and develop differentiated NFT products, these startups are also raising funding rounds in the country to further accelerate their growth.
The global NFT industry is expected to record strong growth over three to four years. In the growing prominence and popularity of the NFT market in the United Kingdom, NFT startups are raising funding rounds to further accelerate the growth of their marketplaces. For instance,
This report provides in-depth, data-centric analysis of NFT Market in United Kingdom and below is the summary of key market segments:
The NFT industry is expected to grow steadily over the forecast period, recording a CAGR of 34.5% during 2022-2028. The NFT Spend Value in the country will increase from US$1725.2 million in 2022 to reach US$9257.0 million by 2028.
The non-fungible tokens (NFT) market has recorded significant growth over the last 12 months globally, and the trends are similar in the United Kingdom. With the growing popularity of digital assets among people across different age groups, the market has recorded strong transaction value and volume. This trend is expected to accelerate as innovative startups with strong business models continue to enter the United Kingdom NFT industry.
The NFTs have grown into prominence across different industry verticals in the United Kingdom. From sports to real estate and even entertainment, every industry finds an innovative NFT use case. This NFT uses cases to support the growth of the market in the country. Moreover, as NFT startups continue to innovate and develop differentiated NFT products, these startups are also raising funding rounds in the country to further accelerate their growth.
The United Kingdom NFT industry is also getting support from the government. Notably, the support from the government towards the development of the NFT industry is a testament to the high growth potential of the NFT market in the United Kingdom. With the NFT market just getting started in the country, the publisher expects the industry to record strong growth over the next three to four years. NFT marketplaces are raising funding rounds to drive their growth in the NFT industry
The global NFT industry is expected to record strong growth over three to four years. In the growing prominence and popularity of the NFT market in the United Kingdom, NFT startups are raising funding rounds to further accelerate the growth of their marketplaces. For instance,
- In March 2022, KnownOrigin, one of the leading NFT marketplaces in the United Kingdom that allows users to discover rare art, announced that the firm had raised US$4.85 million in its Series A funding round, which was led by venture capital firms GBV and Sanctor Capital. Some other investors who participated in the funding round include Pluto Digital, Cultur3 Capital, LD Capital, and D1 Ventures.
- The NFT startup is planning to use the funding round to further improve its NFT digital art marketplace, to allow creators to benefit from emerging technologies such as Metaverse and Web 3. According to the founder, the funding round will help the firm grow, innovate, and build an NFT ecosystem that will further accelerate the market's growth.
- To achieve this goal, the firm has also collaborated with big brands, including Netflix, Adidas, and Adobe. As of March 2022, the NFT marketplace has more than 5,000 creators on the platform and has generated sales of over US$30 million over the period of the last 12 months. The NFT marketplace has built a new royalties system, allowing creators to receive the royalties instantly after each sale.
- In April 2021, Codebase Ventures Inc. (Codebase) announced that the firm had acquired a 50% stake in the UK-based NFT startup, InstaCoin. Notably, the 50% stake acquired by Codebase represents an investment of £100,000 in the NFT startup. Notably, InstaCoin allows users to connect their social media profiles to the blockchain and create instant NFT tokens using their content.
- InstaCoin, an innovative NFT startup in the United Kingdom, allows users to connect their social media profiles to the blockchain and instantly create NFT tokens from their content. This allows social media users to start monetizing the content they have created on social media platforms. Once the NFT tokens are created, followers and fans connect in the open market for immediate sales.
- InstaCoin has positioned itself as the first-ever self-serve social NFT platform. With a cost of US$1 per NFT, the simple business model of the InstaCoin platform is targeting millions of existing social network users to create sales and drive revenue. Moreover, users also receive a lifetime commission on selling their NFT tokens in the secondary market, thereby generating more income for social media users.
Scope
This report provides in-depth, data-centric analysis of NFT Market in United Kingdom and below is the summary of key market segments:
United Kingdom NFT Market Size and Future Growth Dynamics by Key Performance Indicators, 2019-2028
United Kingdom NFT Market Size and Forecast by Key Assets, 2019-2028
- Collectibles and Art
- Real Estate
- Sports
- Gaming
- Utility
- Fashion & Luxury
- Other
United Kingdom NFT Market Size and Forecast by Key NFT Collectible Assets, 2019-2028
- Digital Art
- Music & Sound Clip
- Videos
- Memes & Gif
- Other
United Kingdom NFT Market Size and Forecast by Currency, 2019-2028
- Ethereum
- Solana
- Avalanche
- Polygon
- BSC
- Flow
- Wax
- Ronin
- Other
United Kingdom NFT Market Size and Forecast by Sales Channels, 2019-2028
- Primary
- Secondary
United Kingdom User Statistics, 2019-2028
Reasons to buy
- Based on data and analysis, develop country-level strategies.
- Identify investment opportunities in growth segments.
- Exceed competition by incorporating forecast data as well as market trends.
- Use the relationships between major data sets with valuable insights to improve strategy.
- Appropriate for providing accurate, high-quality data and analysis to support internal and external presentations.
Table of Contents
1 About this Report1.1 Summary
1.2 Methodology
1.3 NFT Definitions
1.4 Disclaimer
2 United Kingdom NFT Market Size and Future Growth Dynamics by Key Performance Indicators
2.1 United Kingdom NFT - Total Sales Spend Value Trend Analysis, 2019 - 2028
2.2 United Kingdom NFT - Total Sales Spend Volume Trend Analysis, 2019 - 2028
2.3 United Kingdom NFT - Average Value Per Transaction Trend Analysis, 2019 - 2028
3 United Kingdom NFT Key Market Insight and Innovation
3.1 Consumer Behavior
3.2 Competitive Landscape and Growth Strategies
3.3 Regulation Trends
4 United Kingdom NFT Market Size and Forecast by Key Assets
4.1 United Kingdom NFT Market Share by Key Assets (%), 2021 Vs. 2028
4.2 United Kingdom NFT Collectibles and Art Trend Analysis, 2019 - 2028
4.3 United Kingdom NFT Real Estate Trend Analysis, 2019 - 2028
4.4 United Kingdom NFT Sports Trend Analysis, 2019 - 2028
4.5 United Kingdom NFT Gaming Trend Analysis, 2019 - 2028
4.6 United Kingdom NFT Utility Trend Analysis, 2019 - 2028
4.7 United Kingdom NFT Fashion and Luxury Trend Analysis, 2019 - 2028
4.8 United Kingdom NFT Other Assets Trend Analysis, 2019 - 2028
5 United Kingdom NFT Collectibles and Art Market Size and Forecast by Key Assets
5.1 United Kingdom NFT Collectibles and Art Market Share by Key Assets (%), 2021 Vs. 2028
5.2 United Kingdom NFT Collectibles and Art - Digital Art Spend Value Trend Analysis, 2019 - 2028
5.3 United Kingdom NFT Collectibles and Art - Music & Sound Clip Spend Value Trend Analysis, 2019 - 2028
5.4 United Kingdom NFT Collectibles and Art - Videos Spend Value Trend Analysis, 2019 - 2028
5.5 United Kingdom NFT Collectibles and Art - Memes & GIF Spend Value Trend Analysis, 2019 - 2028
5.6 United Kingdom NFT Collectibles and Art - Other Assets Spend Value Trend Analysis, 2019 - 2028
6 United Kingdom NFT Market Size and Forecast by Currency
6.1 United Kingdom NFT Market Share by Currency (%), 2021 Vs. 2028
6.2 United Kingdom NFT Currency Ethereum - Spend Value Trend Analysis, 2019 - 2028
6.3 United Kingdom NFT Currency Solana - Spend Value Trend Analysis, 2019 - 2028
6.4 United Kingdom NFT Currency Avalanche - Spend Value Trend Analysis, 2019 - 2028
6.5 United Kingdom NFT Currency Polygon - Spend Value Trend Analysis, 2019 - 2028
6.6 United Kingdom NFT Currency BSC - Spend Value Trend Analysis, 2019 - 2028
6.7 United Kingdom NFT Currency Flow - Spend Value Trend Analysis, 2019 - 2028
6.8 United Kingdom NFT Currency WAX - Spend Value Trend Analysis, 2019 - 2028
6.9 United Kingdom NFT Currency Ronin - Spend Value Trend Analysis, 2019 - 2028
6.10 United Kingdom NFT Other Currencies - Spend Value Trend Analysis, 2019 - 2028
7 United Kingdom NFT Market Size and Forecast by Key Sales Channels
7.1 United Kingdom NFT Market Share by Key Sales Channels (%), 2021 Vs. 2028
7.2 United Kingdom NFT Primary Market - Spend Value Trend Analysis, 2019 - 2028
7.3 United Kingdom NFT Secondary Market - Spend Value Trend Analysis, 2019 - 2028
8 United Kingdom User Statistics of Internet and Population, 2019 - 2028
8.1 United Kingdom Internet Users Trend Analysis, 2019 - 2028
8.2 United Kingdom Internet Penetration Rate, 2019 - 2028
8.3 United Kingdom Adult Population Trend Analysis, 2019 - 2028
9 Further Reading
9.1 About the Publisher
List of FiguresFigure 1: Methodology Framework
Figure 2: United Kingdom NFT - Total Sales Spend Value (US$ Million), 2019 - 2028
Figure 3: United Kingdom NFT - Total Sales Spend Volume (Thousands), 2019 - 2028
Figure 4: United Kingdom NFT - Average Value Per Transaction (US$), 2019 - 2028
Figure 5: United Kingdom NFT Market Share by Key Assets (%), 2021 Vs. 2028
Figure 6: United Kingdom NFT Collectibles and Art - Spend Value (US$ Million), 2019 - 2028
Figure 7: United Kingdom NFT Collectibles and Art - Spend Volume (Thousands), 2019 - 2028
Figure 8: United Kingdom NFT Collectibles and Art - Average Value Per Transaction (US$), 2019 - 2028
Figure 9: United Kingdom NFT Real Estate - Spend Value (US$ Million), 2019 - 2028
Figure 10: United Kingdom NFT Real Estate - Spend Volume (Thousands), 2019 - 2028
Figure 11: United Kingdom NFT Real Estate - Average Value Per Transaction (US$), 2019 - 2028
Figure 12: United Kingdom NFT Sports - Spend Value (US$ Million), 2019 - 2028
Figure 13: United Kingdom NFT Sports - Spend Volume (Thousands), 2019 - 2028
Figure 14: United Kingdom NFT Sports - Average Value Per Transaction (US$), 2019 - 2028
Figure 15: United Kingdom NFT Gaming - Spend Value (US$ Million), 2019 - 2028
Figure 16: United Kingdom NFT Gaming - Spend Volume (Thousands), 2019 - 2028
Figure 17: United Kingdom NFT Gaming - Average Value Per Transaction (US$), 2019 - 2028
Figure 18: United Kingdom NFT Utility - Spend Value (US$ Million), 2019 - 2028
Figure 19: United Kingdom NFT Utility - Spend Volume (Thousands), 2019 - 2028
Figure 20: United Kingdom NFT Utility - Average Value Per Transaction (US$), 2019 - 2028
Figure 21: United Kingdom NFT Fashion and Luxury - Spend Value (US$ Million), 2019 - 2028
Figure 22: United Kingdom NFT Fashion and Luxury - Spend Volume (Thousands), 2019 - 2028
Figure 23: United Kingdom NFT Fashion and Luxury - Average Value Per Transaction (US$), 2019 - 2028
Figure 24: United Kingdom NFT Other Assets - Spend Value (US$ Million), 2019 - 2028
Figure 25: United Kingdom NFT Other Assets - Spend Volume (Thousands), 2019 - 2028
Figure 26: United Kingdom NFT Other Assets - Average Value Per Transaction (US$), 2019 - 2028
Figure 27: United Kingdom NFT Collectibles and Art Market Share by Key Assets (%), 2021 Vs. 2028
Figure 28: United Kingdom NFT Collectibles and Art - Digital Art Spend Value (US$ Million), 2019 - 2028
Figure 29: United Kingdom NFT Collectibles and Art - Music & Sound Clip Spend Value (US$ Million), 2019 - 2028
Figure 30: United Kingdom NFT Collectibles and Art - Videos Spend Value (US$ Million), 2019 - 2028
Figure 31: United Kingdom NFT Collectibles and Art - Memes & GIF Spend Value (US$ Million), 2019 - 2028
Figure 32: United Kingdom NFT Collectibles and Art - Other Assets Spend Value (US$ Million), 2019 - 2028
Figure 33: United Kingdom NFT Market Share by Currency (%), 2021 Vs. 2028
Figure 34: United Kingdom NFT Currency Ethereum - Spend Value (US$ Million), 2019 - 2028
Figure 35: United Kingdom NFT Currency Solana - Spend Value (US$ Million), 2019 - 2028
Figure 36: United Kingdom NFT Currency Avalanche - Spend Value (US$ Million), 2019 - 2028
Figure 37: United Kingdom NFT Currency Polygon - Spend Value (US$ Million), 2019 - 2028
Figure 38: United Kingdom NFT Currency BSC - Spend Value (US$ Million), 2019 - 2028
Figure 39: United Kingdom NFT Currency Flow - Spend Value (US$ Million), 2019 - 2028
Figure 40: United Kingdom NFT Currency WAX - Spend Value (US$ Million), 2019 - 2028
Figure 41: United Kingdom NFT Currency Ronin - Spend Value (US$ Million), 2019 - 2028
Figure 42: United Kingdom NFT Other Currencies - Spend Value (US$ Million), 2019 - 2028
Figure 43: United Kingdom NFT Market Share by Key Sales Channels (%), 2021 Vs. 2028
Figure 44: United Kingdom NFT Primary Market - Spend Value (US$ Million), 2019 - 2028
Figure 45: United Kingdom NFT Secondary Market - Spend Value (US$ Million), 2019 - 2028
Figure 46: United Kingdom Internet Users Trend Analysis (Million), 2019 - 2028
Figure 47: United Kingdom Internet Penetration Rate (%), 2019 - 2028
Figure 48: United Kingdom Adult Population Trend Analysis (Million), 2019 - 2028
List of TablesTable 1: United Kingdom NFT - Total Sales Spend Value (US$ Million), 2019 - 2028
Table 2: United Kingdom NFT - Total Sales Spend Volume (Thousands), 2019 - 2028
Table 3: United Kingdom NFT - Average Value Per Transaction (US$), 2019 - 2028
Table 4: United Kingdom NFT Collectibles and Art - Spend Value (US$ Million), 2019 - 2028
Table 5: United Kingdom NFT Collectibles and Art - Spend Volume (Thousands), 2019 - 2028
Table 6: United Kingdom NFT Collectibles and Art - Average Value Per Transaction (US$), 2019 - 2028
Table 7: United Kingdom NFT Real Estate - Spend Value (US$ Million), 2019 - 2028
Table 8: United Kingdom NFT Real Estate - Spend Volume (Thousands), 2019 - 2028
Table 9: United Kingdom NFT Real Estate - Average Value Per Transaction (US$), 2019 - 2028
Table 10: United Kingdom NFT Sports - Spend Value (US$ Million), 2019 - 2028
Table 11: United Kingdom NFT Sports - Spend Volume (Thousands), 2019 - 2028
Table 12: United Kingdom NFT Sports - Average Value Per Transaction (US$), 2019 - 2028
Table 13: United Kingdom NFT Gaming - Spend Value (US$ Million), 2019 - 2028
Table 14: United Kingdom NFT Gaming - Spend Volume (Thousands), 2019 - 2028
Table 15: United Kingdom NFT Gaming - Average Value Per Transaction (US$), 2019 - 2028
Table 16: United Kingdom NFT Utility - Spend Value (US$ Million), 2019 - 2028
Table 17: United Kingdom NFT Utility - Spend Volume (Thousands), 2019 - 2028
Table 18: United Kingdom NFT Utility - Average Value Per Transaction (US$), 2019 - 2028
Table 19: United Kingdom NFT Fashion and Luxury - Spend Value (US$ Million), 2019 - 2028
Table 20: United Kingdom NFT Fashion and Luxury - Spend Volume (Thousands), 2019 - 2028
Table 21: United Kingdom NFT Fashion and Luxury - Average Value Per Transaction (US$), 2019 - 2028
Table 22: United Kingdom NFT Other Assets - Spend Value (US$ Million), 2019 - 2028
Table 23: United Kingdom NFT Other Assets - Spend Volume (Thousands), 2019 - 2028
Table 24: United Kingdom NFT Other Assets - Average Value Per Transaction (US$), 2019 - 2028
Table 25: United Kingdom NFT Collectibles and Art - Digital Art Spend Value (US$ Million), 2019 - 2028
Table 26: United Kingdom NFT Collectibles and Art - Music & Sound Clip Spend Value (US$ Million), 2019 - 2028
Table 27: United Kingdom NFT Collectibles and Art - Videos Spend Value (US$ Million), 2019 - 2028
Table 28: United Kingdom NFT Collectibles and Art - Memes & GIF Spend Value (US$ Million), 2019 - 2028
Table 29: United Kingdom NFT Collectibles and Art - Other Assets Spend Value (US$ Million), 2019 - 2028
Table 30: United Kingdom NFT Currency Ethereum - Spend Value (US$ Million), 2019 - 2028
Table 31: United Kingdom NFT Currency Solana - Spend Value (US$ Million), 2019 - 2028
Table 32: United Kingdom NFT Currency Avalanche - Spend Value (US$ Million), 2019 - 2028
Table 33: United Kingdom NFT Currency Polygon - Spend Value (US$ Million), 2019 - 2028
Table 34: United Kingdom NFT Currency BSC - Spend Value (US$ Million), 2019 - 2028
Table 35: United Kingdom NFT Currency Flow - Spend Value (US$ Million), 2019 - 2028
Table 36: United Kingdom NFT Currency WAX - Spend Value (US$ Million), 2019 - 2028
Table 37: United Kingdom NFT Currency Ronin - Spend Value (US$ Million), 2019 - 2028
