NFT’s history was made in 2021 the Merge by Pak was sold for a whopping $91.8 million, the highest price ever received for an NFT sale.
Following this giant sale, there has been an improvement in the technology used to store, protect, and transact NFTs.
For instance, Binance accepts NFTs from mostly celebrities and high-profile artists. If you do not belong to this class, your NFT will have to undergo a review before it can be listed on the platform.
That being said, what can we expect from NFT in the coming year, and will it be drastically different from what we saw last year?
Well, one thing to keep at the back of your mind is that these digital collectibles are bound to gain even more popularity this year, and their prices will continue to soar even more than last year.
Naturally, once this happens, there is bound to be segregation, as not everyone will be able to reap the massive rewards from creating one.
This is because, with the increasing prices of NFTs, rarer and very high-quality NFTs will begin to be highly sought after, which would mean that for you to have a chance of benefitting immensely from NFTs, you will need to be a high-profile artist or creator capable of creating high-quality NFTs.
The NFT Community will bring in a large network of investors and brands
If there is one thing that was achieved in 2021 with respect to NFTs, it is the establishment of NFT communities. A group of creative individuals saddled with the responsibility of taking NFTs to the next level.
Naturally, if you are a high-profile NFT artist, you will surely belong to some NFT community where you will meet a group of like-minded individuals with the same objectives and ideals. You will also get to enjoy some perks that come with the particular community you belong to, such as NFT airdrops, admission to private rooms, etc.
This year, however, with NFT establishments already in place, the goal will be to bring in more investors and big business brands into the NFT space. Due to the fact that NFTs themselves are highly sorted, this won’t be a difficult task.
With NFTs serving as investment opportunities, autonomous decentralized organizations will emerge, giving access to investors to invest in quality NFTs even if they do not have the funds to independently purchase these digital assets. All this would be done to promote the spirit of inclusiveness and democracy and to grant investors the benefits allocated to members of exclusive NFT communities. With enough conviction, huge business brands will also be able to leverage NFTs, especially when they find out that NFTs can help market their products and increase sales to high levels.
Currently, Visa, MasterCard, Nike, and Adidas are some of the companies that have first recognized how important NFTs are to businesses and brands. We believe that given time, companies such as McDonald’s will follow suit, and the world could become a global NFT village – just think of a situation where McDonald’s decides to make use of an NFT in marketing its services.
Because NFTs are loved and adored by many, it is natural that people, if anything, out of curiosity, will be willing to patronize more McDonalds than its competitors. It’s a simple case of associating yourself with success to become successful yourself.
Moving on, 2022 has set the path for a lot of things we are quite familiar with to experience technological change.
Thanks to NFTS, concerts, parties, and even events will soon be able to utilize NFTs as tickets rather than the traditional tickets we are accustomed to.
NFTs will even have the potential to boost the entertainment industry even further, as NFTs created to represent the images of popular film stars, footballers, and even musicians will surely entice a lot of people to get their hands on them, especially since some of these celebrities are idols and role models to a lot of people.
With this, revenues will be generated from all corners and the entertainment industry will be a hot cake for investors who will be more than willing to invest in it.
NFTs and the introduction of the Metaverse
The Metaverse is not a new topic of discussion, and it has been talked about for years. Facebook and Microsoft, in particular, seem to be in the lead position as far as the Metaverse is concerned, with Facebook even changing its company name to Meta.
As humans, we always tend to dream of the impossible, and the Metaverse is simply going to make the impossible possible, but not without the help of NFTs.
These two together will bring a major change in our reality and how we view and perceive the world around us.
Hopefully, as larger tech firms continue to show interest and follow the paths of Facebook and Microsoft, we may see the Metaverse become a reality much faster than we think.
When we look at how far we have come as regards technological advancement, we will find that it is nothing short of inspirational.
Expect more from NFTs
Seeing how well NFTs have done, it is quite hard not to see NFTS reaching new heights this year, as it will be a shocker of a lifetime should it fall short of expectations.
Fortunately for NFT fans and enthusiasts, the chances of that happening are close to zero, as people can make NFTs out of anything.
If you have the means to buy an NFT, by all means, get yourself one and see the reactions of people when you tell them – their reactions will reveal how appealing NFTs are to them. This is the kind of experience the power of technological innovation can get you.