The popularity of cryptocurrencies seems to have overtaken NFTs in recent years. NFTs are approaching a huge advance that will cause a real explosion in all markets this year. Today, the NFT market is growing rapidly. New ideas and areas are being created all the time.
Let’s take a look at what NFTs have done and are likely to do this year.
Brief overview of NFTs
Non-fungible tokens have been around for more than 8 years, but it was only last year that their popularity became phenomenal. Suddenly crypto exploded for the first time in art, gaming, music, marketing and many other fields.
#1. Gaming
According to a report by Forte.io, millions of people played blockchain-based games in 2021 alone. This year, we expect to see games that show us a new way to make real money in a virtual world, which can really change lives. Projects like AxieInfinity, Yield Guild Games, Zed Run are proof of that.
This can also have an impact on all ideas that use gamification as a tool to promote marketing campaigns, young generation’s education and businesses.
#2. Fundraising
Although most fundraising methods come at a high cost, NFTs can give more people access to better investment opportunities, especially startups and small businesses with a new way to get funding. Novel fundraising methods, such as GamesPad‘s Initial NFT Offering (INO), offer an efficient and cost-effective way for projects to raise capital without the hurdles of traditional investing or the challenges of other types of token raises.
#3. Marketing Campaigns
NFTs enable new ways of communication and collaboration for companies to reach their target audiences and create value with other brands. Companies like Nike and Adidas are already active in this area. Nike has acquired Trailblazers’ RTFKT studios, and Adidas has partnered with a number of NFT companies, including BAYC, Punks comic and Coinbase. These types of partnerships will drive the growth of blockchain gaming and other metaverse experiences.
#4. In real life events
Thousands of NFT enthusiasts travelled to New York City and saw Bored Ape holders flock from all over the world. They were able to put a face to their online persona, which by and large hasn’t been the case since many joined Space. All in all, BAYC’s First Annual Ape Fest was a huge success!
It was a chance to connect the digital with the real world, and it proved to be extremely popular.
Given the high level of engagement and awareness of the event, we’re likely to see more events like this in 2022 and beyond.
In conclusion, no one could’ve predicted where the NFT would be in the first 8 years of its existence. But now that we’re in a field where virtual space is becoming more popular and important by the day, and looking back at what’s changed and what awaits us, we can safely say that 2022 will be exciting for NFTs in several areas.