NFTs and entertainment Opportunity assessment
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The 20,000 foot view: NFTs are taking the media and entertainment worlds by storm, but we are still, arguably, in early-adoption stages. The media and supply-side frenzy is kicking in, posing more noise and challenge for companies that wish to soberly assess the opportunities that NFTs can bring. This report aims to help with just that. It examines the size of the addressable audience for NFTs, demographics, and overlaps across gamer segments and wider entertainment sectors. If you are thinking about NFTs (or trying to answer whether you should think about them) – then this report is for you.
- NFT interest has a solid niche: of consumers find scarce digital items and collectables appealing, but just are very interested
- Only of consumers are familiar with the term ‘non-fungible token (NFT)’, meaning there is still a large educational and promotional upside for the concept
- Longer term, the addressable market will grow through core enthusiasts aging; more earning opportunities, and more time spent in digital and realms
- Gamers show a strong overlap with NFTs, as a number of segments are showing majority NFT appeal, with esports attendees and in-game item buyers being the most NFT-inclined segments
- NFTs appeal to majority of players among nine of our tracked games communities, with Valorant and Valheim players leading at and respectively
- Players of recent successes, such as Valorant, Valheim, Splitgate and FreeFiremost, are interested in NFTs, but staples, like Call of Duty and GTA, have a larger opportunity
- Across entertainment, NFT appeal is the strongest for consumers in the intersection between digital sophistication and fandom
- In music, NFTs appeal highest to live music fans, particularly live music concert streamers, with hip hop being the most over-indexing music genre
- In sports, NFTs appeal highest among live sport streamers sports betters and merchandise buyers with the highest over-indexing among fight sports
- Anime is the most over-indexing genre for NFT appeal in video, with of anime fans finding NFTs appealing compared to the consumer average
- Successful long-term NFT strategies will focus on driving fandom first and monetisation second
- The metaverse is a path for social media to compete with games for NFT appeal
Companies and brands mentioned in this report :Among Us, Animal Crossing, Apex Legends, Assassin’s Creed, Axie Infinity, Call of Duty, Discord, Fall Guys, Far Cry, FIFA, FreeFire, Grand Theft Auto, League of Legends, Madden NFL, Minecraft, Meta, NBA Player Unknown Battleground, Pokemon, Red Dead Redemption, Roblox, Rocket League, Sea of Thieves, Spider-Man, Splitgate, Super Mario, Tiktok, Twitch, Valheim, Valorant