Market Analysis
Market Capitalization
Fantasy Sports Market size was valued at USD 27.20 billion in 2022 and is poised to grow from USD 30.95 billion in 2023 to USD 87.07 billion by 2031, growing at a CAGR of 13.80% during the forecast period (2024-2031).
The DeFi market had a total value locked (TVL) of approximately $75 billion in 2023, with continued growth expected as more users adopt decentralized finance solutions.
The global Decentralized Finance (DeFi) Market size was valued at USD 22 billion in 2022, USD 23.99 billion in 2023 and is projected to grow USD 48.02 billion by 2031, growing at a CAGR of 9.06% in the forecast period (2024-2031).
The NFT market reached $41 billion in 2023, driven by the increasing popularity of digital collectibles and gaming. Revenue in the NFT market is projected to reach US$2,378.00m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 9.10% resulting in a projected total amount of US$3,369.00m by 2028.
Competitive Analysis
Primary Competitors:
Sorare: A blockchain-based fantasy football game with NFT player cards.
PancakeSwap: A popular DeFi platform offering yield farming and staking.
OpenSea: The largest NFT marketplace, enabling users to buy, sell, and trade digital assets.
Differentiation:
FanBet combines lottery, fantasy football, DeFi, and NFT trading in a single platform, offering a more comprehensive experience.
The platform’s focus on gamification and user engagement strategies, such as daily challenges and loyalty programs, sets it apart from competitors.
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