The volume of non-fungible tokens (NFTs) sold this year could reach $ 18 billion. From artwork and music, to game characters, videos and photographs, these ownership certificates for digital assets on blockchains are highly sought after by collectors, investors and philanthropists. They can also be freely traded on decentralized NFT platforms such as OpenSea. Without further ado, let’s take a look at the biggest trends developing in the NFT space.
1. Celebrities and contemporary NFTs
Of course, in first place this year, because there was no shortage of NFT collaborations in the entertainment industry. Highlights include declines in NFTs Stone cats by Mila Kunis, which ended in about 35 minutes and caused gas prices to skyrocket on the Ethereum blockchain due to transaction processing.
In November, rapper and songwriter Snoop Dogg auctioned off a 3D collage of 10 different portraits of himself at different stages of his professional career, with the winning bid amounting to 188 ETH (around $ 700,000). In mid-December, NBA star Kevin Durant announced a partnership between his company Thirty Five Ventures and Coinbase to collaborate on drops NFT.
Next, director Quentin Tarantino announced the auction of seven uncut scenes from pulp Fiction as NFTs built on the secret network focused on confidentiality. However, Tarantino may have been wrong to join the hype, as production company Miramax filed a lawsuit against him for alleged copyright infringement as a result of his NFT sale.
However, as crypto enthusiasts directly note, the most popular NFTs are those with ” pixelated punks »Created by artist Crypto Punks. The group currently has the highest volume of sales on OpenSea with 750,300 digital art ethers (ETH) (around $ 3 billion at current price) traded since its inception in 2017. Their success has also attracted partnerships and deals with top Hollywood agents.
2. NFT games Play-to-Earn
NFTs are not just meant to be displayed. A blockchain game, Axis Infinity, involves players fighting each other or non-playable characters and completing daily quests with in-game creatures called Axies. Each Axie is a unique NFT that can be bought and sold on the Ethereum blockchain. The creation of Axie NFT is known as the in-game replica, with rarer Axies having better stats and subsequently costing significantly more. According to its official marketplace, the total volume of Axies bought and sold in the last 30 days is over 125,000 ETH, or roughly $ 500 million.
Additionally, players can purchase portions of NFT virtual land in-game. These digital real estate include locations where monsters and bosses spawn, in addition to housing an abundance of resources. Sale of land Axis Infinitythe most expensive to date was last month for 550 ETH ($ 2.3 million at the time).
Another popular choice is the NFT fantasy football game. Sorare. Thanks toSorare, players can manage their own football teams via digital player NFT cards. According to its CEO, Nicholas Julia, more than half a million players have joined the platform organically with no marketing effort.
3. Metaverse NFT
Developments in the metaverse, a digital field including 3D augmented reality, have been gaining traction since Facebook rebranded itself as Meta in October. NFTs play a central role in the metaverse to ensure the uniqueness of virtual assets such as player avatars. Meta’s metaverse product manager, Vishal Shah, said in an announcement that the new platform “will make it easier to sell limited education digital objects like NFTs, display them in their digital spaces and even resell them securely“.
At present, a huge 21-level skyscraper is being built in the metaverse by Bloktopia to honor the maximum amount of 21 million bitcoins (BTC) that can be created. Notable consumer brands like Adidas and Nike are also entering the metaverse, teaming up with contributors to develop NFT artwork for their namesake brands. Above all, the developers of the virtual metaverse game Sandbox want to defend the kingdom against the threat of big tech monopoly.
4. NFT sponsorship
The number of charities accepting crypto donations has increased significantly in 2021. A platform facilitating such transactions, The Giving Block, has seen donations reach over $ 100 million this year, compared to $ 4 million for 2020 as a whole. The company is partnering with NFT platforms so that part of the auction proceeds can go directly to associations crypto nonprofit, with NFT direct donations being a possible future development path. In the United States, investors can deduct their charitable donations directly from their regular income, usually over a few years, resulting in a win-win situation.
However, philanthropic endeavors in the field of NFT go far beyond this. So far, the NFT auctions have raised enough funds to build a school in Uganda and support frontline health workers. In 2022, a promising NFT auction will help raise awareness of contemporary artists with developmental disabilities.
5. Art from the NFT world
Along with traditional art, artists have to travel the world to participate in exhibitions and auctions in order to publicize their work, a privilege reserved only for those with sufficient capital. However, with the rise of NFT’s decentralized markets, anyone in the world can create, showcase and sell their art with little start-up capital, thus connecting cultures around the world.
The Melanated NFT Gallery and the Mongol NFTs are two notable mentions. Melanated NFT Gallery features contemporary African and Latin artwork such as landscapes, photographs of jazz icon Miles Davis, music from DJs, guitar audio, collectible cards and more. musics. As for the platform Mongolian NFTs, it contains NFT images of the nomadic pastoral steppes of the country of the same name and its history, traditions and customs told by Mongolian artists. It has exceeded 100,000 registered users and 1.5 billion Mongolian tugrik ($ 550,000) in sales.
Pop culture NFTs, blockchain art games, metaverse NFTs, charity auctions and global NFT art are the central themes of the year 2021. NFTs play a significant role in the democratization of the crypto industry among the general public in particular by connecting artists with their fans and by creating a vast range of possibilities for users. What future for non-fungible tokens in 2022?
Source: Cointelegraph
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Thomas poirier
I’m sure blockchain and cryptocurrency are the future, and I want to get this idea across to everyone because the more people who believe in cryptocurrency, the sooner the future will come.
