According to the Q2 2022 NFT Survey, NFT industry in Latin America is expected to grow by 48.4% on an annual basis to reach US$5871.1 million in 2022.
The NFT industry is expected to grow steadily over the forecast period, recording a CAGR of 34.8% during 2022-2028. The NFT Spend Value in the country will increase from US$5871.1 million in 2022 to reach US$31994.3 million by 2028.
The non-fungible token (NFT) market in Latin America has undergone strong expansion over the last few years. The presence of Brazilian sports players on NFT marketplaces has supported the widespread adoption of NFTs among the general public. In addition, the adoption of NFT in the art industry has also grown significantly in these countries. Adoption by visual artists and some well-known names in the music industry are supporting the growth of the NFT industry in Brazil.
With the NFT industry recording strong growth over the last four quarters in Brazil, NFT marketplaces are looking to tap into the high-growth market potential. Consequently, firms are entering into strategic partnerships with Brazilian football players, who have millions of fans across the country and globally, seeking to drive their growth in the NFT market. As the popularity of NFTs continues to gain rapid momentum globally, the publisher expects an increasing number of sports teams to collaborate and launch NFTs shortly.
Music festivals are using NFTs as part of their marketing strategies in Mexico. Over the last 12 months, the NFT popularity has grown continuously. In the growing talks about NFTs in Mexico, music festivals have started to use NFTs as part of their marketing strategies. For instance,
Several global football clubs and players are entering the NFT space to launch their NFT collectibles. Similar trends are visible in Mexico, wherein football clubs partner with global NFT platforms to launch their NFTs. For instance,
Because of its geographical location, Akumal, a small village in Mexico's Yucatan peninsula region, most government funding for developmental projects failed to reach the village. This is why most of the region and the population remained underserved for many years. However, things started to change when a local bakery owner, Jennifer Smith, launched Akumal Arts Festival in 2018.
Notably, the event attracted artists worldwide who visited the region to decorate the town with beautiful images. The art festival caught the attention of local authorities, and now small development work is taking place in the region. However, in 2022, thanks to NFTs, the Akumal Arts Festival is expected to help the Akumal community rebuild the underserved Mexican village.
Amid the growing number of use cases, raising funds through NFTs is the most common. Many organizations globally are using NFTs to raise funds for non-profit organizations. Notably, similar trends are seen in Mexico, where cryptocurrency exchanges turn the famous Mexican game into a Solana-based NFT experience. For instance,
This report provides in-depth, data-centric analysis of NFT Market 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 34.8% during 2022-2028. The NFT Spend Value in the country will increase from US$5871.1 million in 2022 to reach US$31994.3 million by 2028.
The non-fungible token (NFT) market in Latin America has undergone strong expansion over the last few years. The presence of Brazilian sports players on NFT marketplaces has supported the widespread adoption of NFTs among the general public. In addition, the adoption of NFT in the art industry has also grown significantly in these countries. Adoption by visual artists and some well-known names in the music industry are supporting the growth of the NFT industry in Brazil.
With the NFT industry recording strong growth over the last four quarters in Brazil, NFT marketplaces are looking to tap into the high-growth market potential. Consequently, firms are entering into strategic partnerships with Brazilian football players, who have millions of fans across the country and globally, seeking to drive their growth in the NFT market. As the popularity of NFTs continues to gain rapid momentum globally, the publisher expects an increasing number of sports teams to collaborate and launch NFTs shortly.
NFT marketplaces in Brazil are choosing an eco-friendly way to attract more artists to their platform, which will subsequently help them drive their growth. For instance
- Hic et Nunc, one of the leading Brazil-based NFT marketplaces for artists globally, mints artwork on the Tezos blockchain, which consumes only a fraction of the energy of its rival blockchains, such as Ethereum. In addition, the energy-efficient Tezos blockchain costs only 30 cents compared to the US$200 for conducting a single transaction on the Ethereum blockchain.
- In March 2022, Lumx Studios, one of the leading startups from Rio de Janerio that develops experiences in the metaverse, announced that the firm had earned R$ 2 million by entering the NFT market with the 55Unity collection. To date, the 55Unity collection remains the largest collectibles project, having sold 3,000 tokens in 28 hours.
- In September 2021, Monica Rizzolli announced that the generative art NFT collection, Fragments of an infinite field, was sold for R$28.35 million in an auction.
Music festivals are using NFTs as part of their marketing strategies in Mexico. Over the last 12 months, the NFT popularity has grown continuously. In the growing talks about NFTs in Mexico, music festivals have started to use NFTs as part of their marketing strategies. For instance,
- In March 2022, Cerveza Tecate Pa'l Norte, one of the largest music festivals in Mexico, announced the creation and sale of NFTs. Notably, the NFTs, created specifically for the event and loaded with lifetime benefits for the owners, were part of Cerveza Tecate's marketing strategy.
Football leagues are launching NFT collectibles to generate a new source of income amid the pandemic impact on revenue
- In April 2021, Liga MX, the top soccer league in the country, announced that it would launch the NFT collection at the beginning of the 21’/22′ season, which was slated to start at the end of August 2021. To launch its NFT collection, Liga MX entered into a strategic collaboration with Bondly, the NFT marketplace which auctioned the NFTs.
- Notably, Liga MX is one of the first soccer leagues to launch NFT collectibles. Globally, several individual teams have entered the NFT space and announced the sales of their collectibles.
Football clubs are entering into strategic partnerships with NFT platforms to launch NFT collectibles
Several global football clubs and players are entering the NFT space to launch their NFT collectibles. Similar trends are visible in Mexico, wherein football clubs partner with global NFT platforms to launch their NFTs. For instance,
- In February 2022, the Atlas Futbol Club announced that the club has entered into a strategic partnership with Sorare, the French NFT platform, allowing fans to trade NFT cards of their favorite players.
NFTs are helping communities to rebuild an underserved Mexican village
Because of its geographical location, Akumal, a small village in Mexico's Yucatan peninsula region, most government funding for developmental projects failed to reach the village. This is why most of the region and the population remained underserved for many years. However, things started to change when a local bakery owner, Jennifer Smith, launched Akumal Arts Festival in 2018.
Notably, the event attracted artists worldwide who visited the region to decorate the town with beautiful images. The art festival caught the attention of local authorities, and now small development work is taking place in the region. However, in 2022, thanks to NFTs, the Akumal Arts Festival is expected to help the Akumal community rebuild the underserved Mexican village.
- In January 2022, hundreds of artists worldwide gathered in Akumal for the festival under the sponsorship of Third Rail Art. These artists created murals, organized various community-driven interaction programs, and conducted workshops during the Art Festival.
- In April 2022, Third Rail Art dropped animated NFTs of a few selected murals from the festival on its street-art NFT platform. Termed the NFT-4-GOOD collection, 85% of the proceeds from the NFT are expected to go to the Akumal Cultural Foundation. These NFTs were designed by artists who created the original murals in partnership with Cryptic Gallery.
Cryptocurrency exchanges are turning popular Mexican games into a Solana-based NFT experience
Amid the growing number of use cases, raising funds through NFTs is the most common. Many organizations globally are using NFTs to raise funds for non-profit organizations. Notably, similar trends are seen in Mexico, where cryptocurrency exchanges turn the famous Mexican game into a Solana-based NFT experience. For instance,
- In October 2021, FTX, one of the leading cryptocurrency exchanges, announced that the firm is turning the famous Mexican game Loteria into an NFT-centric game on Solana. Notably, the firm stated that the funds from the project would benefit the non-profit organization. The non-profit organizations that will benefit from the project include the Hispanic Heritage Foundation, the Rising Tide Network, and Latino Community Foundation.
This is a bundled offering, combining 6 reports, covering regional insights along with data centric analysis at regional and country level:
1. Latin America NFT Market Insight Brief
2. Latin America NFT Market Intelligence and Future Growth Dynamics Databook
3. Argentina NFT Market Intelligence and Future Growth Dynamics Databook
4. Brazil NFT Market Intelligence and Future Growth Dynamics Databook
5. Colombia NFT Market Intelligence and Future Growth Dynamics Databook
6. Mexico NFT Market Intelligence and Future Growth Dynamics Databook
Scope
This report provides in-depth, data-centric analysis of NFT Market and below is the summary of key market segments:
NFT Market Size and Forecast by Key Assets, 2019-2028
- Collectibles and Art
- Real Estate
- Sports
- Gaming
- Utility
- Fashion & Luxury
- Other
NFT Market Size and Forecast by Key NFT Collectible Assets, 2019-2028
- Digital Art
- Music & Sound Clip
- Videos
- Memes & Gif
- Other
NFT Market Size and Forecast by Currency, 2019-2028
- Ethereum
- Solana
- Avalanche
- Polygon
- BSC
- Flow
- Wax
- Ronin
- Other
NFT Market Size and Forecast by Sales Channels, 2019-2028
- Primary
- Secondary
User Statistics, 2019-2028
Reasons to buy
- With the most comprehensive study on this industry, including 4 geographies.
- Based on data and analysis, develop strategies with a global perspective.
- 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
This is a bundled offering, combining 6 reports, covering regional insights along with data centric analysis at regional and country level:1.Latin America NFT Market Insight Brief
2.Latin America NFT Market Intelligence and Future Growth Dynamics Databook
3.Argentina NFT Market Intelligence and Future Growth Dynamics Databook
4.Brazil NFT Market Intelligence and Future Growth Dynamics Databook
5.Colombia NFT Market Intelligence and Future Growth Dynamics Databook
6.Mexico NFT Market Intelligence and Future Growth Dynamics Databook
All the regional and country sections above follow the following table of contents covering 45 charts and 40 tables for each country/region:
1 About this Report
1.1 Summary
1.2 Methodology
1.3 NFT Definitions
1.4 Disclaimer
2 NFT Market Size and Future Growth Dynamics by Key Performance Indicators
2.1 NFT - Total Sales Spend Value Trend Analysis, 2019 - 2028
2.2 NFT - Total Sales Spend Volume Trend Analysis, 2019 - 2028
2.3 NFT - Average Value Per Transaction Trend Analysis, 2019 - 2028
3 NFT Market Size and Forecast by Key Assets
3.1 NFT Market Share by Key Assets (%), 2021 Vs. 2028
3.2 NFT Collectibles and Art Trend Analysis, 2019 - 2028
3.3 NFT Real Estate Trend Analysis, 2019 - 2028
3.4 NFT Sports Trend Analysis, 2019 - 2028
3.5 NFT Gaming Trend Analysis, 2019 - 2028
3.6 NFT Utility Trend Analysis, 2019 - 2028
3.7 NFT Fashion and Luxury Trend Analysis, 2019 - 2028
3.8 NFT Other Assets Trend Analysis, 2019 - 2028
4 NFT Collectibles and Art Market Size and Forecast by Key Assets
4.1 NFT Collectibles and Art Market Share by Key Assets (%), 2021 Vs. 2028
4.2 NFT Collectibles and Art - Digital Art Spend Value Trend Analysis, 2019 - 2028
4.3 NFT Collectibles and Art - Music & Sound Clip Spend Value Trend Analysis, 2019 - 2028
4.4 NFT Collectibles and Art - Videos Spend Value Trend Analysis, 2019 - 2028
4.5 NFT Collectibles and Art - Memes & GIF Spend Value Trend Analysis, 2019 - 2028
4.6 NFT Collectibles and Art - Other Assets Spend Value Trend Analysis, 2019 - 2028
5 NFT Market Size and Forecast by Currency
5.1 NFT Market Share by Currency (%), 2021 Vs. 2028
5.2 NFT Currency Ethereum - Spend Value Trend Analysis, 2019 - 2028
5.3 NFT Currency Solana - Spend Value Trend Analysis, 2019 - 2028
5.4 NFT Currency Avalanche - Spend Value Trend Analysis, 2019 - 2028
5.5 NFT Currency Polygon - Spend Value Trend Analysis, 2019 - 2028
5.6 NFT Currency BSC - Spend Value Trend Analysis, 2019 - 2028
5.7 NFT Currency Flow - Spend Value Trend Analysis, 2019 - 2028
5.8 NFT Currency WAX - Spend Value Trend Analysis, 2019 - 2028
5.9 NFT Currency Ronin - Spend Value Trend Analysis, 2019 - 2028
5.10 NFT Other Currencies - Spend Value Trend Analysis, 2019 - 2028
6 NFT Market Size and Forecast by Key Sales Channels
6.1 NFT Market Share by Key Sales Channels (%), 2021 Vs. 2028
6.2 NFT Primary Market - Spend Value Trend Analysis, 2019 - 2028
6.3 NFT Secondary Market - Spend Value Trend Analysis, 2019 - 2028
7 Further Reading
7.1 About the Publisher
All country reports mentioned above will have the following tables:Figure 1: Methodology Framework
Figure 2: NFT - Total Sales Spend Value (US$ Million), 2019 - 2028
Figure 3: NFT - Total Sales Spend Volume (Thousands), 2019 - 2028
Figure 4: NFT - Average Value Per Transaction (US$), 2019 - 2028
Figure 5: NFT Market Share by Key Assets (%), 2021 Vs. 2028
Figure 6: NFT Collectibles and Art - Spend Value (US$ Million), 2019 - 2028
Figure 7: NFT Collectibles and Art - Spend Volume (Thousands), 2019 - 2028
Figure 8: NFT Collectibles and Art - Average Value Per Transaction (US$), 2019 - 2028
Figure 9: NFT Real Estate - Spend Value (US$ Million), 2019 - 2028
Figure 10: NFT Real Estate - Spend Volume (Thousands), 2019 - 2028
Figure 11: NFT Real Estate - Average Value Per Transaction (US$), 2019 - 2028
Figure 12: NFT Sports - Spend Value (US$ Million), 2019 - 2028
Figure 13: NFT Sports - Spend Volume (Thousands), 2019 - 2028
Figure 14: NFT Sports - Average Value Per Transaction (US$), 2019 - 2028
Figure 15: NFT Gaming - Spend Value (US$ Million), 2019 - 2028
Figure 16: NFT Gaming - Spend Volume (Thousands), 2019 - 2028
Figure 17: NFT Gaming - Average Value Per Transaction (US$), 2019 - 2028
Figure 18: NFT Utility - Spend Value (US$ Million), 2019 - 2028
Figure 19: NFT Utility - Spend Volume (Thousands), 2019 - 2028
Figure 20: NFT Utility - Average Value Per Transaction (US$), 2019 - 2028
Figure 21: NFT Fashion and Luxury - Spend Value (US$ Million), 2019 - 2028
Figure 22: NFT Fashion and Luxury - Spend Volume (Thousands), 2019 - 2028
Figure 23: NFT Fashion and Luxury - Average Value Per Transaction (US$), 2019 - 2028
Figure 24: NFT Other Assets - Spend Value (US$ Million), 2019 - 2028
Figure 25: NFT Other Assets - Spend Volume (Thousands), 2019 - 2028
Figure 26: NFT Other Assets - Average Value Per Transaction (US$), 2019 - 2028
Figure 27: NFT Collectibles and Art Market Share by Key Assets (%), 2021 Vs. 2028
Figure 28: NFT Collectibles and Art - Digital Art Spend Value (US$ Million), 2019 - 2028
Figure 29: NFT Collectibles and Art - Music & Sound Clip Spend Value (US$ Million), 2019 - 2028
Figure 30: NFT Collectibles and Art - Videos Spend Value (US$ Million), 2019 - 2028
Figure 31: NFT Collectibles and Art - Memes & GIF Spend Value (US$ Million), 2019 - 2028
Figure 32: NFT Collectibles and Art - Other Assets Spend Value (US$ Million), 2019 - 2028
Figure 33: NFT Market Share by Currency (%), 2021 Vs. 2028
Figure 34: NFT Currency Ethereum - Spend Value (US$ Million), 2019 - 2028
Figure 35: NFT Currency Solana - Spend Value (US$ Million), 2019 - 2028
Figure 36: NFT Currency Avalanche - Spend Value (US$ Million), 2019 - 2028
Figure 37: NFT Currency Polygon - Spend Value (US$ Million), 2019 - 2028
Figure 38: NFT Currency BSC - Spend Value (US$ Million), 2019 - 2028
Figure 39: NFT Currency Flow - Spend Value (US$ Million), 2019 - 2028
Figure 40: NFT Currency WAX - Spend Value (US$ Million), 2019 - 2028
Figure 41: NFT Currency Ronin - Spend Value (US$ Million), 2019 - 2028
Figure 42: NFT Other Currencies - Spend Value (US$ Million), 2019 - 2028
Figure 43: NFT Market Share by Key Sales Channels (%), 2021 Vs. 2028
Figure 44: NFT Primary Market - Spend Value (US$ Million), 2019 - 2028
Figure 45: NFT Secondary Market - Spend Value (US$ Million), 2019 - 2028
All country reports mentioned above will have the following tables:Table 1: NFT - Total Sales Spend Value (US$ Million), 2019 - 2028
Table 2: NFT - Total Sales Spend Volume (Thousands), 2019 - 2028
Table 3: NFT - Average Value Per Transaction (US$), 2019 - 2028
Table 4: NFT Collectibles and Art - Spend Value (US$ Million), 2019 - 2028
Table 5: NFT Collectibles and Art - Spend Volume (Thousands), 2019 - 2028
Table 6: NFT Collectibles and Art - Average Value Per Transaction (US$), 2019 - 2028
Table 7: NFT Real Estate - Spend Value (US$ Million), 2019 - 2028
Table 8: NFT Real Estate - Spend Volume (Thousands), 2019 - 2028
Table 9: NFT Real Estate - Average Value Per Transaction (US$), 2019 - 2028
Table 10: NFT Sports - Spend Value (US$ Million), 2019 - 2028
Table 11: NFT Sports - Spend Volume (Thousands), 2019 - 2028
Table 12: NFT Sports - Average Value Per Transaction (US$), 2019 - 2028
Table 13: NFT Gaming - Spend Value (US$ Million), 2019 - 2028
Table 14: NFT Gaming - Spend Volume (Thousands), 2019 - 2028
Table 15: NFT Gaming - Average Value Per Transaction (US$), 2019 - 2028
Table 16: NFT Utility - Spend Value (US$ Million), 2019 - 2028
Table 17: NFT Utility - Spend Volume (Thousands), 2019 - 2028
Table 18: NFT Utility - Average Value Per Transaction (US$), 2019 - 2028
Table 19: NFT Fashion and Luxury - Spend Value (US$ Million), 2019 - 2028
Table 20: NFT Fashion and Luxury - Spend Volume (Thousands), 2019 - 2028
Table 21: NFT Fashion and Luxury - Average Value Per Transaction (US$), 2019 - 2028
Table 22: NFT Other Assets - Spend Value (US$ Million), 2019 - 2028
Table 23: NFT Other Assets - Spend Volume (Thousands), 2019 - 2028
Table 24: NFT Other Assets - Average Value Per Transaction (US$), 2019 - 2028
Table 25: NFT Collectibles and Art - Digital Art Spend Value (US$ Million), 2019 - 2028
Table 26: NFT Collectibles and Art - Music & Sound Clip Spend Value (US$ Million), 2019 - 2028
Table 27: NFT Collectibles and Art - Videos Spend Value (US$ Million), 2019 - 2028
Table 28: NFT Collectibles and Art - Memes & GIF Spend Value (US$ Million), 2019 - 2028
Table 29: NFT Collectibles and Art - Other Assets Spend Value (US$ Million), 2019 - 2028
Table 30: NFT Currency Ethereum - Spend Value (US$ Million), 2019 - 2028
Table 31: NFT Currency Solana - Spend Value (US$ Million), 2019 - 2028
Table 32: NFT Currency Avalanche - Spend Value (US$ Million), 2019 - 2028
Table 33: NFT Currency Polygon - Spend Value (US$ Million), 2019 - 2028
Table 34: NFT Currency BSC - Spend Value (US$ Million), 2019 - 2028
Table 35: NFT Currency Flow - Spend Value (US$ Million), 2019 - 2028
Table 36: NFT Currency WAX - Spend Value (US$ Million), 2019 - 2028
Table 37: NFT Currency Ronin - Spend Value (US$ Million), 2019 - 2028
Table 38: NFT Other Currencies - Spend Value (US$ Million), 2019 - 2028
Table 39: NFT Primary Market - Spend Value (US$ Million), 2019 - 2028
Table 40: NFT Secondary Market - Spend Value (US$ Million), 2019 - 2028
