Press Releases

NFTs and the Virtual Economy Research Study 2022: A Disruptive Technology Innovation that Serves as the Foundation for the Multibillion-Dollar Virtual Economy


Dublin, Nov. 24, 2022 (GLOBE NEWSWIRE) — The “NFTs and the Virtual Economy” report has been added to’s offering.

Non-fungible Tokens (NFTs) refer to unique and distinguishable digital assets stored on a distributed ledger/blockchain. Following the emergence of the bitcoin digital currency in early 2009, “colored coins” were coined by Yoni Assia in 2012; these were small parts of bitcoins that represented assets, primarily digital collectibles, and were the predecessor to NFTs.

In 2017, John Watkinson and Matt Hall created CryptoPunks, 24×24 pixel characters that exist on an Ethereum blockchain. Only 10,000 such characters with unique appearances were created, leading to tremendous buzz amongst a community of crypto users who treated ownership as a badge of honor.

This served as an inspiration for NFTs, which has now become a potentially lucrative technology, creating value for businesses across the globe.

Key Issues Addressed:

  • What is an NFT? What are the defining characteristics of NFTs?
  • How are NFTs differentiated from cryptocurrencies?
  • What are some of the key market highlights for NFTs to date?
  • What are the essential NFT growth drivers and restraints?
  • What is the technology behind NFTs? What are the technologies that make up an NFT marketplace?
  • What are the key criteria for choosing an NFT platform?
  • What are the most popular blockchain platforms available today for NFTs?
  • How is digital content distributed by NFTs stored?
  • How has the market performed in the last 3 years? What are the key performance indicators?
  • Which application areas are most impacted by NFTs? What are the emerging use cases?
  • What are the primary growth opportunities in the NFTs for ecosystem stakeholders?

Key Topics Covered:

1. Strategic Imperatives

  • Why is it Increasingly Difficult to Grow?
  • The Strategic Imperative
  • The Impact of the Top 3 Strategic Imperatives on the Non-fungible Token (NFT) Industry
  • Growth Opportunities Fuel the Growth Pipeline Engine

2. Growth Opportunity Analysis

  • Research Scope
  • Glossary

3. Introduction to NFTs

  • NFTs – An Overview
  • Comparison between NFTs and Cryptocurrency
  • Market Highlights
  • Growth Drivers
  • Growth Restraints

4. The NFT Tech Stack

  • The Technology Behind NFTs
  • NFT Marketplace Technology Stack
  • Types of NFT Marketplaces
  • Criteria for Choosing an NFT Platform
  • Comparison Between PoW and PoS Consensus Mechanisms
  • NFT Blockchain Platforms
  • Storing Digital Assets
  • Comparison of ERC Standards

5. The NFT Ecosystem

  • NFT Performance Analysis, Calendar Year (CY) 2019-CY 2021
  • NFT Applications: Ecosystem
  • NFT Applications: Art
  • NFT Applications: Collectibles
  • NFT Applications: Gaming
  • NFT Applications: Others
  • Popular NFT Marketplaces: OpenSea
  • Popular NFT Marketplaces: Rarible
  • Popular NFT Marketplaces: Others

6. Growth Opportunity Universe

  • Growth Opportunity 1: To Grow Beyond Digital Artworks
  • Growth Opportunity 2: Sustainability of NFTs
  • Growth Opportunity 3: New Business Models
  • Growth Opportunity 4: Shaping Digital Communities
  • Growth Opportunity 5: Smart NFTs are a New Frontier

Companies Mentioned

  • OpenSea
  • Rarible

For more information about this report visit


Optimisus is a Web3 media company that covers the latest cryptocurrency, NFT, metaverse, blockchain, and Fintech news influencing the crypto industry.