Dublin, Dec. 26, 2022 (GLOBE NEWSWIRE) — The “Italy NFT Market Intelligence and Future Growth Dynamics Databook – 50+ KPIs on NFT Investments by Key Assets, Currency, Sales Channels – Q2 2022” report has been added to ResearchAndMarkets.com’s offering.
NFT industry in Italy is expected to grow by 47.6% on an annual basis to reach US$671.4 million in 2022.

The NFT industry is expected to grow steadily over the forecast period, recording a CAGR of 34.6% during 2022-2028. The NFT Spend Value in the country will increase from US$671.4 million in 2022 to reach US$3633.5 million by 2028.

The emergence of NFTs in Italy became mainstream, with young Italian digital artists trading their works online with Ethereum. In July 2021, Cambi Auction House hosted the first crypto art auction in Italy. The collection entitled Dystopian Visions, curated by the Director and Co-Founder of the Museum of Contemporary Digital Art (MoCDA), features Italian artists selling their artwork in digital format, or NFTs.
This auction signaled that NFTs were there to stay in Italy. The bold and unconventional designs created by contemporary artists who know that selling NFTs of their artwork will help them create art that is alive and help them connect with the viewer. Additionally, these NFTs are becoming a source of income generation for these artists.

Italy, a pioneer in generating NFT artists, witnessed strong adoption of digital crypto art and NFTs, helping the country get the title of “crypto art Renaissance.” Moreover, Italy has ranked third globally for total gross sales in the main NFT market TremendousRare.

Therefore, the publisher expects more Italian artists to enter the NFT arena with innovative works over the longer run, earning significant revenue and capturing the market.

Future Outlook

Since the NFTs have revolutionized digital artwork bringing security to the market, investors are attracted to Italy’s unique and unrepeatable digital realm. This has created real-world opportunities in Italy, referred to as possibly a “New Renaissance-Era” for Italian artists. Italian NFT artist Federico Clapis’s work was bought for around 44.7 ETH (US$180,000), whereas Hackatao’s had fetched nearly 185ETH ($575,000). Another, Milan-based DotPigeon, had bought NFTs for US$250,000 on Nifty Gateway. Therefore, the publisher anticipates more such artists to enter the NFT space and generate revenue over the long run in the country.

In March 2022, an Italian clothing brand, Diesel, entered the market with an NFT collection, D:VERSE, unique runway garments, and Metaverse wearables. The collection has only one token, with a unique physical and digital showpiece. Additionally, it offers a special access pass for the next In Real Life Diesel Runway Show.
Through this NFT, the users can access unique runway showpieces, limited edition garments, sneakers and accessories, and many more. Not the Italian fashion brands, to attract the NFT fans and enthusiasts, various other sectors are diving into this space to earn revenue.
A country that saw early adoption of NFT in 2018, much before the global market, the publisher expects to witness long series of meta-projects, collaborations, and initiatives between Metaverse and live events, NFTs, and the tangible world, over the next three to four years in the country.

Italian luxury fashion houses are earning substantial revenue from the sale of their NFTs

With the increasing hype of NFTs, fashion brands are building partnerships with NFT platforms to launch digital fashion NFTs, including clothing, shoes, jewelry, accessories, and many more. These unique collectives are bought by fans, collectors, and enthusiasts, for which these brands are witnessing growth in their business.
In September 2021, Dolce & Gabbana, an Italian luxury fashion house, launched a group of nine NFTs called Collezione Genesi on the NFT marketplace, UNXD.
These NFTs, which depict illustrations and digital art of Dolce and Gabbana’s garments, are wearable in a hypothetical Metaverse. Notably, these NFTs were minted on layer 1 Ethereum and were auctioned in the Polygon network.
Through the auction, “The Doge Crown” NFT fetched the largest amount of roughly US$1.3 million at current prices, while “The Glass Suit” NFT fetched nearly US$1 million. At the same time, each version of the “Dress from a Dream” fetched more than US$500,000.
People winning the auction received the NFT and the physical versions of the items. Additionally, the winners will also get access to Dolce & Gabbana events in the future.
Italian luxury fashion houses are entering into a partnership with NFT platforms to launch a brand new NFT collection
In April 2022, after the successful launch of Collezione Genesi, Italian luxury fashion house Dolce & Gabbana partnered with UNXD, the NFT marketplace, and InBetweeners, a unique collection of collectibles stored on a blockchain, to launch a brand new NFT collection in the Italian market.
The new NFT collection of 4835 ‘unrevealed’ boxes, called DGFamily boxes, are function tiered membership to access the unique Dolce & Gabbana universe. Additionally, the members of DGFamily would get unique digital, bodily, and experiential privileges within the Metaverse.
Non-Profit NGOs are introducing VR and NFT Initiatives in Rome in partnership with leading Metaverse developers

With the rising popularity of NFTs, non-profit NGOs are entering into strategic public-private partnerships with Metaverse platforms to identify and abolish impediments to human flourishing.
In March 2022, Humanity 2.0, a Rome-based non-profit NGO, in collaboration with the Holy See (Vatican), signed a strategic public-private partnership with a Metaverse developer, Sensorium, that uses the latest AI, VR, and NFT.
Key Topics Covered:

1 About this Report

2 Italy NFT Market Size and Future Growth Dynamics by Key Performance Indicators
2.1 Italy NFT – Total Sales Spend Value Trend Analysis, 2019 – 2028
2.2 Italy NFT – Total Sales Spend Volume Trend Analysis, 2019 – 2028
2.3 Italy NFT – Average Value Per Transaction Trend Analysis, 2019 – 2028

3 Italy NFT Key Market Insight and Innovation
3.1 Consumer Behavior
3.2 Competitive Landscape and Growth Strategies
3.3 Regulation Trends

4 Italy NFT Market Size and Forecast by Key Assets
4.1 Italy NFT Market Share by Key Assets (%), 2021 Vs. 2028
4.2 Italy NFT Collectibles and Art Trend Analysis, 2019 – 2028
4.3 Italy NFT Real Estate Trend Analysis, 2019 – 2028
4.4 Italy NFT Sports Trend Analysis, 2019 – 2028
4.5 Italy NFT Gaming Trend Analysis, 2019 – 2028
4.6 Italy NFT Utility Trend Analysis, 2019 – 2028
4.7 Italy NFT Fashion and Luxury Trend Analysis, 2019 – 2028
4.8 Italy NFT Other Assets Trend Analysis, 2019 – 2028

5 Italy NFT Collectibles and Art Market Size and Forecast by Key Assets
5.1 Italy NFT Collectibles and Art Market Share by Key Assets (%), 2021 Vs. 2028
5.2 Italy NFT Collectibles and Art – Digital Art Spend Value Trend Analysis, 2019 – 2028
5.3 Italy NFT Collectibles and Art – Music & Sound Clip Spend Value Trend Analysis, 2019 – 2028
5.4 Italy NFT Collectibles and Art – Videos Spend Value Trend Analysis, 2019 – 2028
5.5 Italy NFT Collectibles and Art – Memes & GIF Spend Value Trend Analysis, 2019 – 2028
5.6 Italy NFT Collectibles and Art – Other Assets Spend Value Trend Analysis, 2019 – 2028

6 Italy NFT Market Size and Forecast by Currency
6.1 Italy NFT Market Share by Currency (%), 2021 Vs. 2028
6.2 Italy NFT Currency Ethereum – Spend Value Trend Analysis, 2019 – 2028
6.3 Italy NFT Currency Solana – Spend Value Trend Analysis, 2019 – 2028
6.4 Italy NFT Currency Avalanche – Spend Value Trend Analysis, 2019 – 2028
6.5 Italy NFT Currency Polygon – Spend Value Trend Analysis, 2019 – 2028
6.6 Italy NFT Currency BSC – Spend Value Trend Analysis, 2019 – 2028
6.7 Italy NFT Currency Flow – Spend Value Trend Analysis, 2019 – 2028
6.8 Italy NFT Currency WAX – Spend Value Trend Analysis, 2019 – 2028
6.9 Italy NFT Currency Ronin – Spend Value Trend Analysis, 2019 – 2028
6.10 Italy NFT Other Currencies – Spend Value Trend Analysis, 2019 – 2028

7 Italy NFT Market Size and Forecast by Key Sales Channels
7.1 Italy NFT Market Share by Key Sales Channels (%), 2021 Vs. 2028
7.2 Italy NFT Primary Market – Spend Value Trend Analysis, 2019 – 2028
7.3 Italy NFT Secondary Market – Spend Value Trend Analysis, 2019 – 2028

8 Italy User Statistics of Internet and Population, 2019 – 2028
8.1 Italy Internet Users Trend Analysis, 2019 – 2028
8.2 Italy Internet Penetration Rate, 2019 – 2028
8.3 Italy Adult Population Trend Analysis, 2019 – 2028
For more information about this report visit https://www.researchandmarkets.com/r/d2olvu

Angling Direct PLC ( LON:ANG ), is not the largest company out there, but it saw significant share price movement…
Riyadh Season, a pivotal step in achieving Saudi Vision 2030, seeks to attract more tourists and boost tourism growth in Saudi Arabia through various cultural and entertainment experiences and diverse cultural contents.
Touchstar plc ( LON:TST ), is not the largest company out there, but it saw a double-digit share price rise of over 10…
A look at the shareholders of MS INTERNATIONAL plc ( LON:MSI ) can tell us which group is most powerful. With 54…
Usually, when one insider buys stock, it might not be a monumental event. But when multiple insiders are buying like…
The media industry has battled a tumultuous 2022. Here's how we got here — and what could happen next.
The billionaire took over the social network on October 27, and is revamping it to make it profitable.
When Leonardo DiCaprio isn’t romancing every model in the fashion industry, he’s busy buying and selling real estate. The 48-year-old Oscar winner decided to make a big-boss, end-of-year property move that is only going to expand his significant portfolio even more. DiCaprio bought his next-door neighbor’s 3,527-square-foot home for $10.5 million after one of the […]
"Pete Davidson walked so I could run."View Entire Post ›
Television producers are finding it harder to sell their series to almost everyone in the media industry. Just two companies ordered more scripted series in the second half of 2022: Apple (NASDAQ: AAPL) and Amazon (NASDAQ: AMZN). As the pressure grows for traditional media companies to start generating profits from their streaming services and old hats like Netflix (NASDAQ: NFLX) look to reinvigorate subscriber growth, the demand for new series has fallen considerably.
ABC News executive producer Dax Tejera died of a heart attack at age 37 on Dec. 23.
The British TV host shared snaps of the unique decorations on his evergreen in an Instagram post on Thursday
The statement came as a result of British newspaper publishing Jeremy Clarkson's column in which he wrote that he hated the Duchess "on a cellular level."
The event was decked out in red trees, ball pits, and a music star duetting with Kim Kardashian's daughter North West
From "coastal grandmother" to low-rise jeans and micro minis, stylists explain why these looks just didn't work.
Longtime collaborator Walter Afanasieff played Grinch to the pop diva's claim that she basically wrote the song as a little girl.
Shawn Michaels knows how special what he’s doing in NXT is. […]
The Kardashian-Jenner family threw a glamorous festive bash
'Mayfield Witches' actress Dakota Johnson stunned in a two-piece white outfit while attending a red carpet event. See the outfit on Instagram and read what fans said about it.
Elon Musk became the most influential CEO in the world this year. Some people will even go so far as to say that he is the most powerful boss in the world. He is involved in companies that are at the heart of technological innovations such as Tesla and SpaceX.

source

Write A Comment