According to TechInsight360’s Q2 2022 NFT Survey, NFT industry in Japan is expected to grow by 53.0% on an annual basis to reach US$1361.5 million in 2022. The NFT industry is expected to grow steadi...
According to TechInsight360’s Q2 2022 NFT Survey, NFT industry in Japan is expected to grow by 53.0% on an annual basis to reach US$1361.5 million in 2022. The NFT industry is expected to grow steadily over the forecast period, recording a CAGR of 38.7% during 2022-2028. The NFT Spend Value in the country will increase from US$1361.5 million in 2022 to reach US$8807.2 million by 2028. NFTs, a new breed of crypto-assets that represent digital items, from images and videos to clothing for avatars, have started gaining popularity over the last four to eight quarters globally. NFTs are data sets in a digital ledger that prove ownership and help the investor gain post sale of these unique digital assets. These NFTs are not exactly new, with the first NFTs being launched in the mid-2010s. On the other hand, the latest figures create a dilemma of whether the bubble will burst or not since weekly NFT sales have plummeted around the globe. With the hype increasing globally among the business players, artists, and entertainers, Japan also entered the new trend to create a new digital economy. Consequently, consultation providers on crypto assets and blockchains witnessed increasing demand from various artists, publishers, and Japan. For instance, Tokyo-based startup Gracone, earned significant through its consulting service in the country. Though Japan is still in the early phase of its development, businesses and organizations have partnered with NFT and blockchain platforms to launch innovative products. Notably, the thriving NFT market has attracted Coincheck Inc., a major cryptocurrency exchange operator in Japan, to introduce its NFT marketplace in March 2021. Importantly, many people in Japan are suspicious of cryptocurrencies and NFTs. Also, many Japanese people are interested in but do not know what to do with them. HEXA, a new NFT platform, came into being in Japan, helping people buy and sell NFTs in Japanese yen without holding any cryptocurrency wallets. Users can also use the platform without paying any transaction or gas fees, while they can set royalty and unlockable content like OpenSea. Despite the growing interest of Japanese creators and businesses in the market, NFTs still face hurdles in the country. Since the technical know-how of people is essential for installing and managing cryptocurrency wallet services required to operate these NFTs, the market is facing various headwinds to grow. Improving the usability for general users is a challenge in the current NFT market scenario in Japan. Along with this, the legal issue also surrounds NFT ownership in the country. Amidst such uncertainties, TechInsight360 anticipates that NFTs will be a game-changer in the long run since Japan has successful pop culture, anime, and manga, which has the potential to take the trend forward over the next four to eight quarters in the country. NFT platforms are bringing Japanese Artists and Creators together on a Single Platform With the shifting of the world from the physical to digital, various artists and creators are sharing their rich culture with the world in the form of NFTs. Therefore, NFT platforms are taking the initiative to bring these artists and creators on a single platform to attract more customers over the long run in Japan. For instance, • In April 2022, a new NFT marketplace, Primes, was developed by Angela Global Co. Ltd. to bring together Japanese content in a single platform and convert it to NFTs to protect the work of Japanese creators. Since Japan has a very rich culture, this new platform chose the Japanese content to launch as NFTs in the Primes marketplace. • Based out of Taiwan, this platform is not restricted to the Japanese marketplace but also to the United States, Oceania, Asia, and the Middle East. Primes are a new economic zone allowing users worldwide to discover collect and innovative NFTs, thus generating revenue. Japanese entertainment conglomerate and video game companies are foraying into the NFT space vying for the growing market Post the success of the first Ethereum NFT in Japan, and the industry saw a substantial rise during the start of 2021; the boom was carried well, with artists and celebrities purchasing NFTs of their own. As a result, various businesses and organizations plunged into the high-growth market to earn profit over the longer run. For instance, • In September 2021, Japanese entertainment conglomerate and video game company Square Enix announced to enter the NFT space with NFT-centered projects, including blockchain-based video games and collectibles. • Square Enix launched NFT digital trading cards in Japan, which are based on the anime and video game franchise "Shi-San-Sei Million Arthur" along with developer Double Jump. Tokyo/MCH+. This was the water testing strategy of the company, which was successful as all the cards were sold
This report provides in-depth, data-centric analysis of NFT Market in Japan and below is the summary of key market segments: Japan NFT Market Size and Future Growth Dynamics by Key Performance Indicators, 2019-2028 • Japan NFT Market Size and Forecast by Key Assets, 2019-2028 -- Collectibles and Art -- Real Estate -- Sports -- Gaming -- Utility -- Fashion & Luxury -- Other • Japan NFT Market Size and Forecast by Key NFT Collectible Assets, 2019-2028 -- Digital Art -- Music & Sound Clip -- Videos -- Memes & Gif -- Other • Japan NFT Market Size and Forecast by Currency, 2019-2028 -- Ethereum -- Solana -- Avalanche -- Polygon -- BSC -- Flow -- Wax -- Ronin -- Other • Japan NFT Market Size and Forecast by Sales Channels, 2019-2028 -- Primary -- Secondary • Japan User Statistics, 2019-2028
• In-depth understanding of NFT spend market dynamics: Understand market opportunity, industry dynamics, key trends and drivers across NFT market segments and sub-segments. • Develop market specific strategies: Identify growth segments and target specific opportunities to formulate your NFT investment and business strategy; assess market specific key trends, drivers and risks in the industry. • Get insights into consumer attitude and behaviour: Understand changing consumer attitude and behaviour and boost ROI. Get detailed insights into NFT spend across various categories.
1 About this Report 1.1 Summary 1.2 Methodology 1.3 NFT Definitions 1.4 Disclaimer 2 Japan NFT Market Size and Future Growth Dynamics by Key Performance Indicators 2.1 Japan NFT – Total Sales Spend Value Trend Analysis, 2019 – 2028 2.2 Japan NFT – Total Sales Spend Volume Trend Analysis, 2019 – 2028 2.3 Japan NFT – Average Value Per Transaction Trend Analysis, 2019 – 2028 3 Japan NFT Key Market Insight and Innovation 3.1 Consumer Behavior 3.2 Competitive Landscape and Growth Strategies 3.3 Regulation Trends 4 Japan NFT Market Size and Forecast by Key Assets 4.1 Japan NFT Market Share by Key Assets (%), 2021 Vs. 2028 4.2 Japan NFT Collectibles and Art Trend Analysis, 2019 – 2028 4.3 Japan NFT Real Estate Trend Analysis, 2019 – 2028 4.4 Japan NFT Sports Trend Analysis, 2019 – 2028 4.5 Japan NFT Gaming Trend Analysis, 2019 – 2028 4.6 Japan NFT Utility Trend Analysis, 2019 – 2028 4.7 Japan NFT Fashion and Luxury Trend Analysis, 2019 – 2028 4.8 Japan NFT Other Assets Trend Analysis, 2019 – 2028 5 Japan NFT Collectibles and Art Market Size and Forecast by Key Assets 5.1 Japan NFT Collectibles and Art Market Share by Key Assets (%), 2021 Vs. 2028 5.2 Japan NFT Collectibles and Art – Digital Art Spend Value Trend Analysis, 2019 – 2028 5.3 Japan NFT Collectibles and Art – Music & Sound Clip Spend Value Trend Analysis, 2019 – 2028 5.4 Japan NFT Collectibles and Art – Videos Spend Value Trend Analysis, 2019 – 2028 5.5 Japan NFT Collectibles and Art – Memes & GIF Spend Value Trend Analysis, 2019 – 2028 5.6 Japan NFT Collectibles and Art – Other Assets Spend Value Trend Analysis, 2019 – 2028 6 Japan NFT Market Size and Forecast by Currency 6.1 Japan NFT Market Share by Currency (%), 2021 Vs. 2028 6.2 Japan NFT Currency Ethereum – Spend Value Trend Analysis, 2019 – 2028 6.3 Japan NFT Currency Solana – Spend Value Trend Analysis, 2019 – 2028 6.4 Japan NFT Currency Avalanche – Spend Value Trend Analysis, 2019 – 2028 6.5 Japan NFT Currency Polygon – Spend Value Trend Analysis, 2019 – 2028 6.6 Japan NFT Currency BSC – Spend Value Trend Analysis, 2019 – 2028 6.7 Japan NFT Currency Flow – Spend Value Trend Analysis, 2019 – 2028 6.8 Japan NFT Currency WAX – Spend Value Trend Analysis, 2019 – 2028 6.9 Japan NFT Currency Ronin – Spend Value Trend Analysis, 2019 – 2028 6.10 Japan NFT Other Currencies – Spend Value Trend Analysis, 2019 – 2028 7 Japan NFT Market Size and Forecast by Key Sales Channels 7.1 Japan NFT Market Share by Key Sales Channels (%), 2021 Vs. 2028 7.2 Japan NFT Primary Market – Spend Value Trend Analysis, 2019 – 2028 7.3 Japan NFT Secondary Market – Spend Value Trend Analysis, 2019 – 2028 8 Japan User Statistics of Internet and Population, 2019 – 2028 8.1 Japan Internet Users Trend Analysis, 2019 – 2028 8.2 Japan Internet Penetration Rate, 2019 – 2028 8.3 Japan Adult Population Trend Analysis, 2019 – 2028 9 Further Reading 9.1 About TechInsight360 9.2 Related Research
Table 1: Japan NFT – Total Sales Spend Value (US$ Million), 2019 – 2028 Table 2: Japan NFT – Total Sales Spend Volume (Thousands), 2019 – 2028 Table 3: Japan NFT – Average Value Per Transaction (US$), 2019 – 2028 Table 4: Japan NFT Collectibles and Art – Spend Value (US$ Million), 2019 – 2028 Table 5: Japan NFT Collectibles and Art – Spend Volume (Thousands), 2019 – 2028 Table 6: Japan NFT Collectibles and Art – Average Value Per Transaction (US$), 2019 – 2028 Table 7: Japan NFT Real Estate – Spend Value (US$ Million), 2019 – 2028 Table 8: Japan NFT Real Estate – Spend Volume (Thousands), 2019 – 2028 Table 9: Japan NFT Real Estate – Average Value Per Transaction (US$), 2019 – 2028 Table 10: Japan NFT Sports – Spend Value (US$ Million), 2019 – 2028 Table 11: Japan NFT Sports – Spend Volume (Thousands), 2019 – 2028 Table 12: Japan NFT Sports – Average Value Per Transaction (US$), 2019 – 2028 Table 13: Japan NFT Gaming – Spend Value (US$ Million), 2019 – 2028 Table 14: Japan NFT Gaming – Spend Volume (Thousands), 2019 – 2028 Table 15: Japan NFT Gaming – Average Value Per Transaction (US$), 2019 – 2028 Table 16: Japan NFT Utility – Spend Value (US$ Million), 2019 – 2028 Table 17: Japan NFT Utility – Spend Volume (Thousands), 2019 – 2028 Table 18: Japan NFT Utility – Average Value Per Transaction (US$), 2019 – 2028 Table 19: Japan NFT Fashion and Luxury – Spend Value (US$ Million), 2019 – 2028 Table 20: Japan NFT Fashion and Luxury – Spend Volume (Thousands), 2019 – 2028 Table 21: Japan NFT Fashion and Luxury – Average Value Per Transaction (US$), 2019 – 2028 Table 22: Japan NFT Other Assets – Spend Value (US$ Million), 2019 – 2028 Table 23: Japan NFT Other Assets – Spend Volume (Thousands), 2019 – 2028 Table 24: Japan NFT Other Assets – Average Value Per Transaction (US$), 2019 – 2028 Table 25: Japan NFT Collectibles and Art – Digital Art Spend Value (US$ Million), 2019 – 2028 Table 26: Japan NFT Collectibles and Art – Music & Sound Clip Spend Value (US$ Million), 2019 – 2028 Table 27: Japan NFT Collectibles and Art – Videos Spend Value (US$ Million), 2019 – 2028 Table 28: Japan NFT Collectibles and Art – Memes & GIF Spend Value (US$ Million), 2019 – 2028 Table 29: Japan NFT Collectibles and Art – Other Assets Spend Value (US$ Million), 2019 – 2028 Table 30: Japan NFT Currency Ethereum – Spend Value (US$ Million), 2019 – 2028 Table 31: Japan NFT Currency Solana – Spend Value (US$ Million), 2019 – 2028 Table 32: Japan NFT Currency Avalanche – Spend Value (US$ Million), 2019 – 2028 Table 33: Japan NFT Currency Polygon – Spend Value (US$ Million), 2019 – 2028 Table 34: Japan NFT Currency BSC – Spend Value (US$ Million), 2019 – 2028 Table 35: Japan NFT Currency Flow – Spend Value (US$ Million), 2019 – 2028 Table 36: Japan NFT Currency WAX – Spend Value (US$ Million), 2019 – 2028 Table 37: Japan NFT Currency Ronin – Spend Value (US$ Million), 2019 – 2028
Figure 1: TechInsight360’s Methodology Framework Figure 2: Japan NFT – Total Sales Spend Value (US$ Million), 2019 – 2028 Figure 3: Japan NFT – Total Sales Spend Volume (Thousands), 2019 – 2028 Figure 4: Japan NFT – Average Value Per Transaction (US$), 2019 – 2028 Figure 5: Japan NFT Market Share by Key Assets (%), 2021 Vs. 2028 Figure 6: Japan NFT Collectibles and Art – Spend Value (US$ Million), 2019 – 2028 Figure 7: Japan NFT Collectibles and Art – Spend Volume (Thousands), 2019 – 2028 Figure 8: Japan NFT Collectibles and Art – Average Value Per Transaction (US$), 2019 – 2028 Figure 9: Japan NFT Real Estate – Spend Value (US$ Million), 2019 – 2028 Figure 10: Japan NFT Real Estate – Spend Volume (Thousands), 2019 – 2028 Figure 11: Japan NFT Real Estate – Average Value Per Transaction (US$), 2019 – 2028 Figure 12: Japan NFT Sports – Spend Value (US$ Million), 2019 – 2028 Figure 13: Japan NFT Sports – Spend Volume (Thousands), 2019 – 2028 Figure 14: Japan NFT Sports – Average Value Per Transaction (US$), 2019 – 2028 Figure 15: Japan NFT Gaming – Spend Value (US$ Million), 2019 – 2028 Figure 16: Japan NFT Gaming – Spend Volume (Thousands), 2019 – 2028 Figure 17: Japan NFT Gaming – Average Value Per Transaction (US$), 2019 – 2028 Figure 18: Japan NFT Utility – Spend Value (US$ Million), 2019 – 2028 Figure 19: Japan NFT Utility – Spend Volume (Thousands), 2019 – 2028 Figure 20: Japan NFT Utility – Average Value Per Transaction (US$), 2019 – 2028 Figure 21: Japan NFT Fashion and Luxury – Spend Value (US$ Million), 2019 – 2028 Figure 22: Japan NFT Fashion and Luxury – Spend Volume (Thousands), 2019 – 2028 Figure 23: Japan NFT Fashion and Luxury – Average Value Per Transaction (US$), 2019 – 2028 Figure 24: Japan NFT Other Assets – Spend Value (US$ Million), 2019 – 2028 Figure 25: Japan NFT Other Assets – Spend Volume (Thousands), 2019 – 2028 Figure 26: Japan NFT Other Assets – Average Value Per Transaction (US$), 2019 – 2028 Figure 27: Japan NFT Collectibles and Art Market Share by Key Assets (%), 2021 Vs. 2028 Figure 28: Japan NFT Collectibles and Art – Digital Art Spend Value (US$ Million), 2019 – 2028 Figure 29: Japan NFT Collectibles and Art – Music & Sound Clip Spend Value (US$ Million), 2019 – 2028 Figure 30: Japan NFT Collectibles and Art – Videos Spend Value (US$ Million), 2019 – 2028 Figure 31: Japan NFT Collectibles and Art – Memes & GIF Spend Value (US$ Million), 2019 – 2028 Figure 32: Japan NFT Collectibles and Art – Other Assets Spend Value (US$ Million), 2019 – 2028 Figure 33: Japan NFT Market Share by Currency (%), 2021 Vs. 2028 Figure 34: Japan NFT Currency Ethereum – Spend Value (US$ Million), 2019 – 2028 Figure 35: Japan NFT Currency Solana – Spend Value (US$ Million), 2019 – 2028 Figure 36: Japan NFT Currency Avalanche – Spend Value (US$ Million), 2019 – 2028 Figure 37: Japan NFT Currency Polygon – Spend Value (US$ Million), 2019 – 2028 Figure 38: Japan NFT Currency BSC – Spend Value (US$ Million), 2019 – 2028 Figure 39: Japan NFT Currency Flow – Spend Value (US$ Million), 2019 – 2028 Figure 40: Japan NFT Currency WAX – Spend Value (US$ Million), 2019 – 2028 Figure 41: Japan NFT Currency Ronin – Spend Value (US$ Million), 2019 – 2028 Figure 42: Japan NFT Other Currencies – Spend Value (US$ Million), 2019 – 2028 Figure 43: Japan NFT Market Share by Key Sales Channels (%), 2021 Vs. 2028 Figure 44: Japan NFT Primary Market – Spend Value (US$ Million), 2019 – 2028 Figure 45: Japan NFT Secondary Market – Spend Value (US$ Million), 2019 – 2028 Figure 46: Japan Internet Users Trend Analysis (Million), 2019 – 2028 Figure 47: Japan Internet Penetration Rate (%), 2019 – 2028 Figure 48: Japan Adult Population Trend Analysis (Million), 2019 – 2028
