South Africa Non Fungible Token (nft) Market Size & Outlook
South Africa non fungible token (nft) market, 2020-2030 (US$M)
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South Africa non fungible token (nft) market highlights
- The South Africa non fungible token (nft) market generated a revenue of USD 390.4 million in 2023 and is expected to reach USD 2,164.4 million by 2030.
- The South Africa market is expected to grow at a CAGR of 27.7% from 2024 to 2030.
- In terms of segment, collectibles was the largest revenue generating application in 2023.
- Art is the most lucrative application segment registering the fastest growth during the forecast period.
Non fungible token (nft) market data book summary
| Market revenue in 2023 | USD 390.4 million |
| Market revenue in 2030 | USD 2,164.4 million |
| Growth rate | 27.7% (CAGR from 2023 to 2030) |
| Largest segment | Collectibles |
| Fastest growing segment | Art |
| Historical data | 2020 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Collectibles, Art, Gaming, Utilities, Metaverse, Sports |
| Key market players worldwide | Cloudflare Inc, PLBY Group Inc Ordinary Shares, Dolphin Entertainment Inc, Funko Inc Class A, NFT Ltd Ordinary Shares-Class A, Dapper Labs, YellowHeart, OpenSea, Gemini, Onchain |
Other key industry trends
- In terms of revenue, South Africa accounted for 1.4% of the global non fungible token (nft) market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Middle East & Africa, UAE non fungible token (nft) market is projected to lead the regional market in terms of revenue in 2030.
- UAE is the fastest growing regional market in Middle East & Africa and is projected to reach USD 2,595.4 million by 2030.
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Non Fungible Token (NFT) Market Scope
Non Fungible Token (NFT) Market Companies
| Name | Profile | # Employees | HQ | Website |
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South Africa non fungible token (nft) market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to non fungible token (nft) market will help companies and investors design strategic landscapes.
Collectibles was the largest segment with a revenue share of 53.3% in 2023. Horizon Databook has segmented the South Africa non fungible token (nft) market based on collectibles, art, gaming, utilities, metaverse, sports covering the revenue growth of each sub-segment from 2020 to 2030.
South Africa is known for its vibrant and diverse art scene, with artists expressing their creativity through various mediums. NFTs provide a new avenue for South African artists such as Jan Hendrik Viljoen to showcase their work and monetize their digital and traditional art in the digital realm.
The financial aspect of NFT art is attracting South African artists to leverage NFTs. Moreover, the potential for value appreciation in NFT artworks and the ability to earn royalties from secondary sales provide new income streams for artists, which is expected to drive the adoption of NFT in the country.
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Horizon Databook provides a detailed overview of country-level data and insights on the South Africa non fungible token (nft) market , including forecasts for subscribers. This country databook contains high-level insights into South Africa non fungible token (nft) market from 2020 to 2030, including revenue numbers, major trends, and company profiles.
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South Africa non fungible token (NFT) market size, by application, 2020-2030 (US$M)
South Africa Non Fungible Token (NFT) Market Outlook Share, 2023 & 2030 (US$M)
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