Exciting NFT Trends That Will Shape the Future of NFT
NFTs have impacted the digital world as well as industries ranging from art to gaming to investing. Non-fungible tokens, on the other hand, have yet to reach their full potential. Twitter, Meta, and Reddit are all working on NFT projects, investors are placing large bets on NFTs, and new NFT startups are popping up daily. So, how does the future of NFTs look? What industries will they next disrupt? And what NFT trends will define the coming years?
NFTs are being adopted by industries as diverse as gaming, finance, art, and medicine, with billions traded over non-fungible tokens and a strong community behind the technology.
The applications of NFTs are nearly limitless. Some claim that in ten years, all purchases will be accompanied by NFTs. Others believe smart contracts will eventually replace legal documents. While many people believe NFTs are a passing fad or are too niche to become widely used, major players such as Meta (formerly Facebook), Twitter, Reddit, and Visa are taking notice and working to ensure they don’t miss out on the NFT boom.
NFT trends are changed and shaped the future of nft with time through different types of services like nft game development, nft minting website, etc.
However, what is the future of NFTs? What are the most recent NFT developments and applications? What new NFT trends can we expect in 2022 and beyond?
We scoured the internet for the most recent and upcoming trends in:
1. Gaming at NFT :
A new video game that allows users to collect, breed, and sell NFT kittens skyrocketed in popularity in 2017. Because CryptoKitties was so popular, the transaction volume exceeded the bottlenecks of the Ethereum network, slowing cryptocurrency transactions.
In 2021, there are hundreds of games that are entirely based on NFTs. NFTs are being added to existing games. NFTs have the potential to change the way in-game marketplaces operate.
The gaming industry has a huge amount of potential for blockchain and NFTs. And games like Axie Infinity and Blankos Block Party are making a name for themselves with play-to-earn (P2E) models that pay players real money. They’ve grown in popularity in the last year, especially in developing countries, because who doesn’t want to make money playing video games?
Most likely, Axie Infinity is the most popular P2E game out there. The game is based on buying, breeding, and training Axie to send into battle. It was made with Pokémon in mind. The Axie is NFTs, and through battles, players can earn Smooth Love Potion, a cryptocurrency that can be sold for real money on the secondary market.
But the trend that is shaking up the gaming world goes beyond play-to-earn and has far-reaching implications beyond traditional gaming: the metaverse.
If you’ve never heard of the metaverse, it’s a digitally shared space that combines virtual and physical reality.
Many people see the metaverse as the next stage of the internet and the future of how people will interact online. Mark Zuckerberg recently announced the rebranding of Facebook as Meta and the company’s intention to become a “metaverse company.” Meta intends to become a virtual space that combines work, entertainment, and social interaction.
2. Ticketing for NFT:
GET Protocol and Centaurify are two companies that are introducing NFTs into the world of ticketing. The creation of tickets as NFTs allows for greater control over the resale market, more secure ticket storage, and the possibility of tickets being viewed as digital collectibles.
Niels Henrik Sodemann, CEO and co-founder of Queue-it, recently told Ticketing Business News:
“We believe that the increase of digital components in the ticketing revenue stream will be one of the most significant changes in the industry over the next five years.” The combination of ticketing sales and NFTs is a great example of this.
“The value created for customers would be twofold: the opportunity to attend the live entertainment experience itself, as well as an exclusive and personalized digital asset.”
3. PFP NFTs & Avatars:-
The NFT projects for a profile picture (PFP) and avatar are among the most successful in the history of NFTs. With the release of the now-infamous CryptoPunks in 2017, the stage was set for these projects.
In 2017, 10,000 CryptoPunk NFTs were algorithmically generated and distributed for free to anyone with an ETH wallet. By 2021, the cheapest of the 10,000 is worth over $400,000, and over $4 billion has been traded over the NFT series.
CryptoPunks can now be found on the Twitter pages of Jay-Z, Visa, Snoop Dogg, and Odell Beckham Jr., as well as on the Met Gala red carpet.
4. NFTs powered by AI:-
Along with blockchain, artificial intelligence (AI) is the next major technological disruptor. So it’s no surprise that the two are being combined.
Art created by AI:
The first big trend here is that AI is making NFTs.
This is not a new occurrence. Obvious Art sold an artwork created by an AI called GAN at Christie’s in 2018 for more than $400,000. However, the introduction of NFTs has widely recognized the value of digital assets, and new AI projects are spitting out new artworks and minting them as NFTs daily.
Alicia studied over 9,100 paintings by renowned artists, completing 300,000 iterations of complex computing to comprehend the artists’ patterns and techniques. This resulted in Arlequin, one of Alicia’s many one-of-a-kind paintings.
5. Community-owned Entertainment and NFT streaming:-
NFTs are frequently credited with ushering in a creator economy. They’ve allowed thousands of artists to create and sell their work on their terms. However, the NFT creator economy’s potential extends far beyond empowering visual artists and changing the art world.
6. Music by NFT:-
DJ 3LAU was the first musician to tokenize an album, earning $11.6 million from the sale of 33 NFTs of the album. Royal, his next project, aims to shake up the music streaming industry.
With $16 million in funding, Royal hopes to enable ownership of songs by tokenizing them. These song NFTs can then be fractionalized by musicians, allowing them to sell a portion of the song’s ownership to fans and investors while keeping the majority stake.
The royalties from the song’s streaming would then be distributed among the many fractionalized asset owners.
NFTs in the Future:
The NFT market is rapidly evolving. Every day, new NFT projects popped up while I was writing this.
Over the past year, the few consistent NFT trends have been their steady growth, rising interest in them, and their ever-expanding applications.
The future depicted by these NFT trends is intriguing. While many people are concerned about the implications of the metaverse and the rise of AI, the future is exciting.