Troy Warren for CNT #NFT
NFTs have taken the world by storm in 2021. From Metaverse to gaming, to art, collectibles, and PFPs, we’re seeing NFTs adopted across the board. Enterprise NFTs have been rapidly on the rise, while consumer NFTs have been steadily proliferating the NFT market.
In 2022, one thing is certain, NFTs are here to stay and the possibilities are endless. Here are some of our insights on the latest and upcoming NFT trends in 2022:
NFTs with use cases in the Metaverse
Since the announcement of Facebook’s rebrand to Meta in 2021, anything Metaverse-related has been all the hype. With a long list of use cases ranging from gaming to P2E, digital property, and land NFTs. We’re predicting that popularity and use cases will only continue to grow and increase to encompass larger utilization within the metaverse, with utility crossing over to bridge real-world applications. This will bring massive benefits for NFT creators and collectors dabbling in Metaverse. Some predictions in 2022 include the emergence of NFT social platforms and ticketing for real-world and digital events using NFTs.
Environmentally conscious NFTs and scalable blockchains
One of the biggest pain points of being an NFT trader, creator, platform, or otherwise is the constantly fluctuating prices of gas fees. On top of the price, NFTs minted on the Ethereum blockchain are a big point of friction for anyone who is environmentally conscious due to its proof-of-work protocol (POF). While there are already several “Ethereum killer” blockchains currently active and popular in the NFT space such as Solana and Cardano, that run on a proof-of-stake (POS) protocol, 2022 will be the year of environmentally conscious and sustainable blockchains that are primed to combat climate concern and high gas fees.
SMART NFTs are a fairly new development in the NFT world, but many are already calling it the new frontier in NFTs. While we haven’t seen much in terms of adoption, SMART NFTs layer on to existing NFT use cases by incorporating additional functionality. SMART NFTs allow timed-based access, asset netting, and numerous layers added to NFTs, potentially bringing value to the diversification of content and art forms. SMART NFT technology also brings digital efficiency to the commercial market, allowing for exclusive releases in industries like fashion, music, art, video games, and so on.
For consumer markets in the art, fashion, and lifestyle, experience is everything. Introducing experience-based NFTs can potentially bring different arenas of art, lifestyle, and fashion NFTs together. The biggest and most recent example of this of the Adidas x BAYC x PUNKSComic collaboration. The collaboration between big brand name Adidas and Bored Ape Yacht Club was Adidas’s first-ever NFT drop allowed for exclusive access to Adidas experiences and products – both in the virtual and physical world.
In 2022 where the value of NFTs continues to rise, digital assets are becoming increasingly expensive for any one investor to town. Fractionalizing an asset allows ownership across several investors. The asset is collectively owned by all the fractions owners. This allows for the democratization of ownership in the digital world in the future.