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UTILITY AND MARKET SIZE OF NFT

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The NFT industry is developing rapidly in global scale, with the participation of major companies. In the video game market, Ubisoft, Mythical Games, Capcom, SquareEnix, and Atari are participating in NFT. In the sports market, NBA, MLB, Formula 1, PSG, FC Bayen München, and Real Madrid have begun their business in NFT. Nike is taking the lead in implementing NFT in the fashion area, while the entertainment field includes BBC Studios, Warner Music, and Paramount Pictures. In the technology infrastructure sector, Samsung, IBM, AMD, and Microsoft Azure are showing initiatives in implementing NFTs.

While the NFT market is expanding in various fields, the sales revenue of the current NFT market shows a gradual decline in the collectibles sector. At the same time, art trading sector is on the rise, with the second highest number of users and active transactions. The art sector is followed by the game industry, which has remained popular as an industry that benefitted the most from the pandemic.

Recently, the NFT card collection platform NBA Top Shot, which sells intellectual property rights of popular sports games, surpassed Crypto Kitty in transaction volume with 29.4 million USD. While the number of collectors on NBA Topshot is only about 18,000, which is 20% of that of Crypto Kitty, the surpassing transaction volume shows that the transaction volume per user is higher, proving the value of NFT

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