U.S. Non-fungible Token Market 2030: NFTs in Sports and Entertainment

The U.S. non-fungible token (NFT) market was valued at USD 7.11 billion in 2023 and is expected to reach USD 56.06 billion by 2030, expanding at a compound annual growth rate (CAGR) of 34.6% between 2024 and 2030. Over recent years, there has been a swift rise in awareness and adoption of NFTs among American businesses, which has significantly fueled industry growth. U.S. companies have been actively utilizing NFTs for various initiatives, including brand engagement, loyalty programs, and marketing campaigns. Businesses are creating exclusive NFTs for their customers, offering NFT-based rewards, and using NFTs to verify authenticity and ownership of digital assets. Additionally, leading NFT marketplaces such as Blur and OpenSea have boosted the market’s valuation and are expected to attract further investments, positively influencing the future demand for NFTs in the U.S.

In 2023, the U.S. accounted for 26.33% of the global NFT market revenue. The surge in cryptocurrency popularity within the country, alongside developments in metaverse, Web 3.0, and decentralized finance, has presented new avenues for business revenue growth. Cryptocurrencies offer benefits like lower transaction fees and faster money transfers, and their decentralized nature reduces the risk of a single point of failure. As a result, many investors and consumers in the U.S. have embraced cryptocurrencies. A Coinbase report from February 2023 indicated that 20% of Americans—over 50 million people—own cryptocurrency, with 76% of these individuals believing blockchain and crypto represent the future of finance. This trend underpins sustained healthy growth in the NFT market during the forecast period.

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The growing appeal of NFTs among U.S. artists is also a key growth driver. NFTs provide artists with verifiable proof of authenticity and uniqueness of their work on the blockchain. Moreover, NFTs enable artists to generate ongoing revenue streams, reshaping the art industry’s landscape. In the music sector, NFTs have become a popular method for artists to deepen connections with their fans by releasing limited edition tracks, virtual experiences, and exclusive behind-the-scenes content. NFTs also allow artists to receive royalties from resale and maintain greater control over their creative work. Prominent artists such as Kings of Leon, Grimes, Eminem, Whitney Houston, and Avenged Sevenfold have launched NFTs in recent years, helping maintain a positive outlook for the market.

Key Market Trends & Insights

• The collectibles segment—which includes video clips, audio clips, and gamification—dominated the market in 2023 with a revenue share of 53.80%. Digital collectibles are verified on blockchain technology and can be bought, sold, or held as investments.
• The personal end-use segment captured the largest revenue share in the U.S. NFT market in 2023. NFTs are predominantly adopted by individual customers seeking crypto investment opportunities.
• The digital assets segment led by type in 2023, comprising digital art, music, video games, trade cards, and other NFT forms.

Market Size & Forecast

• 2023 Market Size: USD 7.11 Billion
• 2030 Projected Market Size: USD 56.06 Billion
• CAGR (2024–2030): 34.6%

Key Companies & Market Share Insights

The U.S. NFT market is rapidly evolving with many emerging companies entering the space in recent years. Established players must innovate continuously to maintain competitive advantages. Firms are launching new offerings and partnering with celebrities and associations to strengthen their nationwide presence. Leading global brands across sectors such as restaurants, food & beverage, automotive, fashion & accessories, and consumer goods are increasingly leveraging NFTs as a strategic growth tool.

For example, in June 2022, Dolphin Entertainment’s Web3 subsidiary, We Come In Peace (WCIP), developed multiple metaverse-related projects and NFT initiatives with notable figures like music manager Troy Carter and supermodel Bella Hadid. Earlier in 2022, the company collaborated with celebrity chefs Spike Mendelsohn and Tom Colicchio on the ‘Chfty’ NFT collection. Additionally, in September 2022, Funko partnered with Walmart and Warner Bros. to bring digital collectibles to retail with the Digital Pop series featuring DC Comics. Such product launches and partnerships are key drivers for market expansion.

Notable U.S. Non-Fungible Token Companies:

• YellowHeart, LLC
• PLBY Group, Inc.
• Cloudflare, Inc.
• Dolphin Entertainment, Inc.
• Ozone Networks, Inc.
• Funko
• Gemini Trust Company, LLC
• Dapper Labs, Inc.
• Onchain Labs, Inc.
• LooksRare

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Conclusion

The U.S. NFT market is poised for substantial growth, driven by increasing awareness, expanding adoption by businesses and artists, and the rising popularity of cryptocurrencies and related technologies like the metaverse and Web 3.0. With a projected CAGR of 34.6% and a market size expected to reach USD 56.06 billion by 2030, NFTs are becoming an integral part of digital asset management, creative industries, and consumer engagement strategies. Continued innovation, strategic partnerships, and new use cases will be essential for companies to capitalize on this rapidly evolving market and sustain long-term growth.