According to TechInsight360’s Q2 2022 NFT Survey, NFT industry in Malaysia is expected to grow by 49.9% on an annual basis to reach US$536.7 million in 2022. The NFT industry is expected to grow stea...
According to TechInsight360’s Q2 2022 NFT Survey, NFT industry in Malaysia is expected to grow by 49.9% on an annual basis to reach US$536.7 million in 2022. The NFT industry is expected to grow steadily over the forecast period, recording a CAGR of 35.7% during 2022-2028. The NFT Spend Value in the country will increase from US$536.7 million in 2022 to reach US$3028.8 million by 2028. Non-fungible tokens (NFTs), which have recorded significant growth globally, also see phenomenal growth in Malaysia. Many Malaysian artists have ventured into the NFT space over the last two years as they seek to capitalize on the growing trend and earn financial freedom through NFTs. With NFTs helping industry players make art more accessible to the public and widening the pool of collectors, NFTs are expected to surpass the conventional art market auctions as it continues to gain wider acceptance and accessibility with buyers in art auctions. The growing NFT momentum in the country has disrupted the local art scene ecosystem. In 2021, Malaysian graffiti artist, Katun, made more than RM 1.6 million through the sale of the NFT collection, which was sold out within 24 hours. Since then, many artists have entered the NFT space in Malaysia as more and more people see NFTs as the future of ownership. In this growing awareness and adoption of NFTs, several local NFT marketplaces have emerged and have recorded strong growth in the country. There has been a significant spike in Malaysia's NFT transaction value and volume over the last 12 months. Corporations and associations have jumped onto the NFT bandwagon to mint their artwork. Amid this growing trend for NFTs in Malaysia, it has become crucial for art galleries to change their mindset and embrace digital assets, or they will be left behind. One Malaysian art gallery that has embraced NFTs is the Kelantan Art Gallery, featured on a local NFT platform, Pentas.io. With the NFT adoption rate being one of the highest in Malaysia, the growing popularity of digital assets among the general public is expected to further drive market growth over the next three to four years. Adoption of NFTs across different industries is expected to further drive market growth in Malaysia The popularity of NFTs has surged significantly over the last 12 months among Malaysians. With the trend expected to continue from the short to medium-term perspective, TechInsight360 expects more and more brands to enter the NFT space in Malaysia. Already, several different brands across industries, such as fashion and quick-service restaurants, have jumped onto the NFT bandwagon in the country. As the digital asset gains momentum and becomes mainstream in Malaysia, TechInsight360 expects more firms across different industry verticals to adopt NFTs. This will subsequently promote innovation in the market, thereby driving higher transaction value and volume from the short to medium-term perspective. An increasing number of NFT marketplaces driving the market growth in Malaysia With the popularity of NFTs increasing among the general public, more and more startups are entering the NFT space by launching their own NFT marketplace. These marketplaces make it easier for Malaysians to buy, sell, and trade in NFTs, resulting in higher transaction value and volume over the last 12 months. As the demand for NFTs continues to grow in Malaysia and more and more brands enter the digital asset space, TechInsight360 expects more local and global players to expand their footprint in the NFT sector over the next three to four years. This will keep promoting market growth and competition in Malaysia from the short to medium-term perspective. Malaysian artists turning to NFTs to gain financial freedom is driving market growth in the country Before the global pandemic outbreak closed art and performing spaces in March 2020, the art galleries and festivals in Malaysia provided a lifeline and inspiration to the artists in the country. However, with the pandemic-caused disruption, most of the artists in the country struggled to survive financially. In the wake of this disruption, some artists started to venture into the newly emerging world of NFTs. While it was initially taken as a fun pastime, the market's growth has changed the way artists now see digital assets in Malaysia. Moreover, with some artists making hundreds of thousands of dollars in NFT sales, many artists have turned to NFTs to gain financial freedom.
This report provides in-depth, data-centric analysis of NFT Market in Malaysia and below is the summary of key market segments: Malaysia NFT Market Size and Future Growth Dynamics by Key Performance Indicators, 2019-2028 • Malaysia NFT Market Size and Forecast by Key Assets, 2019-2028 -- Collectibles and Art -- Real Estate -- Sports -- Gaming -- Utility -- Fashion & Luxury -- Other • Malaysia NFT Market Size and Forecast by Key NFT Collectible Assets, 2019-2028 -- Digital Art -- Music & Sound Clip -- Videos -- Memes & Gif -- Other • Malaysia NFT Market Size and Forecast by Currency, 2019-2028 -- Ethereum -- Solana -- Avalanche -- Polygon -- BSC -- Flow -- Wax -- Ronin -- Other • Malaysia NFT Market Size and Forecast by Sales Channels, 2019-2028 -- Primary -- Secondary • Malaysia 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 Malaysia NFT Market Size and Future Growth Dynamics by Key Performance Indicators 2.1 Malaysia NFT – Total Sales Spend Value Trend Analysis, 2019 – 2028 2.2 Malaysia NFT – Total Sales Spend Volume Trend Analysis, 2019 – 2028 2.3 Malaysia NFT – Average Value Per Transaction Trend Analysis, 2019 – 2028 3 Malaysia NFT Key Market Insight and Innovation 3.1 Consumer Behavior 3.2 Competitive Landscape and Growth Strategies 3.3 Regulation Trends 4 Malaysia NFT Market Size and Forecast by Key Assets 4.1 Malaysia NFT Market Share by Key Assets (%), 2021 Vs. 2028 4.2 Malaysia NFT Collectibles and Art Trend Analysis, 2019 – 2028 4.3 Malaysia NFT Real Estate Trend Analysis, 2019 – 2028 4.4 Malaysia NFT Sports Trend Analysis, 2019 – 2028 4.5 Malaysia NFT Gaming Trend Analysis, 2019 – 2028 4.6 Malaysia NFT Utility Trend Analysis, 2019 – 2028 4.7 Malaysia NFT Fashion and Luxury Trend Analysis, 2019 – 2028 4.8 Malaysia NFT Other Assets Trend Analysis, 2019 – 2028 5 Malaysia NFT Collectibles and Art Market Size and Forecast by Key Assets 5.1 Malaysia NFT Collectibles and Art Market Share by Key Assets (%), 2021 Vs. 2028 5.2 Malaysia NFT Collectibles and Art – Digital Art Spend Value Trend Analysis, 2019 – 2028 5.3 Malaysia NFT Collectibles and Art – Music & Sound Clip Spend Value Trend Analysis, 2019 – 2028 5.4 Malaysia NFT Collectibles and Art – Videos Spend Value Trend Analysis, 2019 – 2028 5.5 Malaysia NFT Collectibles and Art – Memes & GIF Spend Value Trend Analysis, 2019 – 2028 5.6 Malaysia NFT Collectibles and Art – Other Assets Spend Value Trend Analysis, 2019 – 2028 6 Malaysia NFT Market Size and Forecast by Currency 6.1 Malaysia NFT Market Share by Currency (%), 2021 Vs. 2028 6.2 Malaysia NFT Currency Ethereum – Spend Value Trend Analysis, 2019 – 2028 6.3 Malaysia NFT Currency Solana – Spend Value Trend Analysis, 2019 – 2028 6.4 Malaysia NFT Currency Avalanche – Spend Value Trend Analysis, 2019 – 2028 6.5 Malaysia NFT Currency Polygon – Spend Value Trend Analysis, 2019 – 2028 6.6 Malaysia NFT Currency BSC – Spend Value Trend Analysis, 2019 – 2028 6.7 Malaysia NFT Currency Flow – Spend Value Trend Analysis, 2019 – 2028 6.8 Malaysia NFT Currency WAX – Spend Value Trend Analysis, 2019 – 2028 6.9 Malaysia NFT Currency Ronin – Spend Value Trend Analysis, 2019 – 2028 6.10 Malaysia NFT Other Currencies – Spend Value Trend Analysis, 2019 – 2028 7 Malaysia NFT Market Size and Forecast by Key Sales Channels 7.1 Malaysia NFT Market Share by Key Sales Channels (%), 2021 Vs. 2028 7.2 Malaysia NFT Primary Market – Spend Value Trend Analysis, 2019 – 2028 7.3 Malaysia NFT Secondary Market – Spend Value Trend Analysis, 2019 – 2028 8 Malaysia User Statistics of Internet and Population, 2019 – 2028 8.1 Malaysia Internet Users Trend Analysis, 2019 – 2028 8.2 Malaysia Internet Penetration Rate, 2019 – 2028 8.3 Malaysia Adult Population Trend Analysis, 2019 – 2028 9 Further Reading 9.1 About TechInsight360 9.2 Related Research
Table 1: Malaysia NFT – Total Sales Spend Value (US$ Million), 2019 – 2028 Table 2: Malaysia NFT – Total Sales Spend Volume (Thousands), 2019 – 2028 Table 3: Malaysia NFT – Average Value Per Transaction (US$), 2019 – 2028 Table 4: Malaysia NFT Collectibles and Art – Spend Value (US$ Million), 2019 – 2028 Table 5: Malaysia NFT Collectibles and Art – Spend Volume (Thousands), 2019 – 2028 Table 6: Malaysia NFT Collectibles and Art – Average Value Per Transaction (US$), 2019 – 2028 Table 7: Malaysia NFT Real Estate – Spend Value (US$ Million), 2019 – 2028 Table 8: Malaysia NFT Real Estate – Spend Volume (Thousands), 2019 – 2028 Table 9: Malaysia NFT Real Estate – Average Value Per Transaction (US$), 2019 – 2028 Table 10: Malaysia NFT Sports – Spend Value (US$ Million), 2019 – 2028 Table 11: Malaysia NFT Sports – Spend Volume (Thousands), 2019 – 2028 Table 12: Malaysia NFT Sports – Average Value Per Transaction (US$), 2019 – 2028 Table 13: Malaysia NFT Gaming – Spend Value (US$ Million), 2019 – 2028 Table 14: Malaysia NFT Gaming – Spend Volume (Thousands), 2019 – 2028 Table 15: Malaysia NFT Gaming – Average Value Per Transaction (US$), 2019 – 2028 Table 16: Malaysia NFT Utility – Spend Value (US$ Million), 2019 – 2028 Table 17: Malaysia NFT Utility – Spend Volume (Thousands), 2019 – 2028 Table 18: Malaysia NFT Utility – Average Value Per Transaction (US$), 2019 – 2028 Table 19: Malaysia NFT Fashion and Luxury – Spend Value (US$ Million), 2019 – 2028 Table 20: Malaysia NFT Fashion and Luxury – Spend Volume (Thousands), 2019 – 2028 Table 21: Malaysia NFT Fashion and Luxury – Average Value Per Transaction (US$), 2019 – 2028 Table 22: Malaysia NFT Other Assets – Spend Value (US$ Million), 2019 – 2028 Table 23: Malaysia NFT Other Assets – Spend Volume (Thousands), 2019 – 2028 Table 24: Malaysia NFT Other Assets – Average Value Per Transaction (US$), 2019 – 2028 Table 25: Malaysia NFT Collectibles and Art – Digital Art Spend Value (US$ Million), 2019 – 2028 Table 26: Malaysia NFT Collectibles and Art – Music & Sound Clip Spend Value (US$ Million), 2019 – 2028 Table 27: Malaysia NFT Collectibles and Art – Videos Spend Value (US$ Million), 2019 – 2028 Table 28: Malaysia NFT Collectibles and Art – Memes & GIF Spend Value (US$ Million), 2019 – 2028 Table 29: Malaysia NFT Collectibles and Art – Other Assets Spend Value (US$ Million), 2019 – 2028 Table 30: Malaysia NFT Currency Ethereum – Spend Value (US$ Million), 2019 – 2028 Table 31: Malaysia NFT Currency Solana – Spend Value (US$ Million), 2019 – 2028 Table 32: Malaysia NFT Currency Avalanche – Spend Value (US$ Million), 2019 – 2028 Table 33: Malaysia NFT Currency Polygon – Spend Value (US$ Million), 2019 – 2028 Table 34: Malaysia NFT Currency BSC – Spend Value (US$ Million), 2019 – 2028 Table 35: Malaysia NFT Currency Flow – Spend Value (US$ Million), 2019 – 2028 Table 36: Malaysia NFT Currency WAX – Spend Value (US$ Million), 2019 – 2028 Table 37: Malaysia NFT Currency Ronin – Spend Value (US$ Million), 2019 – 2028
Figure 1: TechInsight360’s Methodology Framework Figure 2: Malaysia NFT – Total Sales Spend Value (US$ Million), 2019 – 2028 Figure 3: Malaysia NFT – Total Sales Spend Volume (Thousands), 2019 – 2028 Figure 4: Malaysia NFT – Average Value Per Transaction (US$), 2019 – 2028 Figure 5: Malaysia NFT Market Share by Key Assets (%), 2021 Vs. 2028 Figure 6: Malaysia NFT Collectibles and Art – Spend Value (US$ Million), 2019 – 2028 Figure 7: Malaysia NFT Collectibles and Art – Spend Volume (Thousands), 2019 – 2028 Figure 8: Malaysia NFT Collectibles and Art – Average Value Per Transaction (US$), 2019 – 2028 Figure 9: Malaysia NFT Real Estate – Spend Value (US$ Million), 2019 – 2028 Figure 10: Malaysia NFT Real Estate – Spend Volume (Thousands), 2019 – 2028 Figure 11: Malaysia NFT Real Estate – Average Value Per Transaction (US$), 2019 – 2028 Figure 12: Malaysia NFT Sports – Spend Value (US$ Million), 2019 – 2028 Figure 13: Malaysia NFT Sports – Spend Volume (Thousands), 2019 – 2028 Figure 14: Malaysia NFT Sports – Average Value Per Transaction (US$), 2019 – 2028 Figure 15: Malaysia NFT Gaming – Spend Value (US$ Million), 2019 – 2028 Figure 16: Malaysia NFT Gaming – Spend Volume (Thousands), 2019 – 2028 Figure 17: Malaysia NFT Gaming – Average Value Per Transaction (US$), 2019 – 2028 Figure 18: Malaysia NFT Utility – Spend Value (US$ Million), 2019 – 2028 Figure 19: Malaysia NFT Utility – Spend Volume (Thousands), 2019 – 2028 Figure 20: Malaysia NFT Utility – Average Value Per Transaction (US$), 2019 – 2028 Figure 21: Malaysia NFT Fashion and Luxury – Spend Value (US$ Million), 2019 – 2028 Figure 22: Malaysia NFT Fashion and Luxury – Spend Volume (Thousands), 2019 – 2028 Figure 23: Malaysia NFT Fashion and Luxury – Average Value Per Transaction (US$), 2019 – 2028 Figure 24: Malaysia NFT Other Assets – Spend Value (US$ Million), 2019 – 2028 Figure 25: Malaysia NFT Other Assets – Spend Volume (Thousands), 2019 – 2028 Figure 26: Malaysia NFT Other Assets – Average Value Per Transaction (US$), 2019 – 2028 Figure 27: Malaysia NFT Collectibles and Art Market Share by Key Assets (%), 2021 Vs. 2028 Figure 28: Malaysia NFT Collectibles and Art – Digital Art Spend Value (US$ Million), 2019 – 2028 Figure 29: Malaysia NFT Collectibles and Art – Music & Sound Clip Spend Value (US$ Million), 2019 – 2028 Figure 30: Malaysia NFT Collectibles and Art – Videos Spend Value (US$ Million), 2019 – 2028 Figure 31: Malaysia NFT Collectibles and Art – Memes & GIF Spend Value (US$ Million), 2019 – 2028 Figure 32: Malaysia NFT Collectibles and Art – Other Assets Spend Value (US$ Million), 2019 – 2028 Figure 33: Malaysia NFT Market Share by Currency (%), 2021 Vs. 2028 Figure 34: Malaysia NFT Currency Ethereum – Spend Value (US$ Million), 2019 – 2028 Figure 35: Malaysia NFT Currency Solana – Spend Value (US$ Million), 2019 – 2028 Figure 36: Malaysia NFT Currency Avalanche – Spend Value (US$ Million), 2019 – 2028 Figure 37: Malaysia NFT Currency Polygon – Spend Value (US$ Million), 2019 – 2028 Figure 38: Malaysia NFT Currency BSC – Spend Value (US$ Million), 2019 – 2028 Figure 39: Malaysia NFT Currency Flow – Spend Value (US$ Million), 2019 – 2028 Figure 40: Malaysia NFT Currency WAX – Spend Value (US$ Million), 2019 – 2028 Figure 41: Malaysia NFT Currency Ronin – Spend Value (US$ Million), 2019 – 2028 Figure 42: Malaysia NFT Other Currencies – Spend Value (US$ Million), 2019 – 2028 Figure 43: Malaysia NFT Market Share by Key Sales Channels (%), 2021 Vs. 2028 Figure 44: Malaysia NFT Primary Market – Spend Value (US$ Million), 2019 – 2028 Figure 45: Malaysia NFT Secondary Market – Spend Value (US$ Million), 2019 – 2028 Figure 46: Malaysia Internet Users Trend Analysis (Million), 2019 – 2028 Figure 47: Malaysia Internet Penetration Rate (%), 2019 – 2028 Figure 48: Malaysia Adult Population Trend Analysis (Million), 2019 – 2028
