NFTs are sweeping the newly formed landscape of what is known as Web 3.0. This is no longer a secret, as industry titans such as Nike, Louis Vuitton, and even McDonald’s have entered the stage with big ideas and plans for the coming years. NFT trends change quickly, so it’s critical to pay attention.
While millions of dollars for single NFTs may appear expensive for a space that has only recently gained traction, NFTs can have numerous use-cases due to their ability to be traceable by anyone and to be programmed according to the use case their creators have in mind.
The nature of blockchains enables NFTs to be used in a wide range of industries while also increasing transparency. NFTs serve a wide range of use cases, forming trends as more and more users dip their toes into the murky waters of the crypto space daily.
Below is a list of NFT trends expected to emerge this year. We only listed the hottest NFT market trends in 2022 that you do not want to miss out on.
NFT Trends in 2022
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Tokenization Powered by NFTs
Have you ever wondered what would happen if news-content restrictions disappeared? Innovative creators and press agencies use NFTs to create an environment that allows more freedom of censorship and fair compensation for content producers to stay on top of creating high-quality content.
NFTs can serve as publicly traceable certificates of ownership for virtually any asset. To tokenize an asset, owners can easily create a smart contract linked to a given NFT and allow it to be used as a token that represents the value behind it.
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Increased Utility with Certificates of Authenticity (COAs)
One of the most common deceptions people fall for when shopping online is whether the item of desire is genuine or a forgery. Assume you want to buy a luxury watch from the secondary market. The only way to be sure it’s authentic is to look at the pictures provided. Manufacturers can issue NFTs to ensure their authenticity.
If the manufacturer employs this NFT trend, the COA can be directly traced to them because the development and every step taken can be publicly viewed by anyone interested.
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Transform the Digital Art Industry
We can’t talk about NFT trends without mentioning the most popular digital artist in 2021. Mike Winkelmann aka Beeple created “Everyday’s: The First 5000 Days” and sold the NFT for $69 million last year. This amazing auction gained attention in the world of digital art. As a result, new NFT art trends began to emerge.
NFTs enable artists to create and sell their work on a peer-to-peer basis, staying in touch with their fans. Artists can use NFTs to sell a work-in-progress to early investors and believers in future success. Even fractionalized NFTs can now be created, allowing small-time investors to own a portion of their favorite NFTs.
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Community-Owned Businesses
Community-owned brands are another excellent example of the possibilities of NFT trends that will alter the crypto landscape. According to experts, allowing a community to decide where a brand will evolve or what NFT trends to follow adds a lot of value.
A year ago, the Bored Ape Yacht Club (BAYC) community was nothing more than a collection of pictures of bored apes. However, thanks to a decentralized and democratic approach to community management, the team behind BAYC has managed to become not only the most sought-after NFT art trend but also one of the hottest fashion trends in recent history. They’ve even collaborated with major fashion brands like Adidas to create branded merchandise.
Many big companies are jumping into this trend as people will be able to use their favorite NFT to signify a brand in marketing campaigns and thus monetize their collectibles.
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Avatar Creations
Algorithmically generated NFT avatars are unique images that resemble cartoon or pixelated characters, often without heads but with bodies. They can appear as females, males, animals, humanoids, aliens – there really is no limit to what they can look like!
This could be one of the essential NFT market trends for NFT collectors in 2022. If you were able to purchase and keep a famous profile pic NFT, you could be in for a golden treat!
Advertisers recognize the potential of NFT trends and began utilizing them to push marketing to new heights. Using an NFT as a model or avatar for a brand will be one of the following significant ways to give your favorite piece of digital art real-world utility.
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Shake up the Music Industry
The hunt for NFT trends is far from over. In the future, the music industry as we know it will change yet again. And this time, it’s all for the best of the artists. New bands are emerging from NFT communities, and they are eager to be developed further by their respective communities.
To name one prominent figure in the industry, Jack Dorsey resigned as CEO of Twitter to manage Block to onboard streaming services such as Tidal to use NFTs in music. This allows artists to drop their music as NFTs and royalties can be tracked publicly by fans and bands alike.
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Modify Our Perspective on Future Gaming
Blockchain gaming first appeared in 2021 and made excellent use of NFT trends. If you haven’t been living under a rock, you’ve probably heard about the new model of play-to-earn gaming that exploded last year with games like Axie Infinity.
But this was only the beginning. Looking at NFT search trends, there is a clear trend toward gaming being one of the most critical NFT trends to emerge in the near future. Triple-A publishers are entering the world of Blockchain Gaming, which will change the way we think about in-game asset ownership.
We will see true ownership of items and other related gaming assets for the first time when the technology behind NFTs is applied to in-game assets. Ubisoft intends to enter the Metaverse with its NFTs linked to in-game assets that can be traded or even sold off if a game is completed or no longer interesting.
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Raise Funds for Good Causes with NFTs
With all of the aforementioned NFT trends, a growing group of people are using Web 3.0 technologies, such as NFTs, for fundraisers. NFTs can help to make charitable donations not only more traceable but also more transparent.
This will allow charitable organizations to operate much more efficiently and encourage the efficient use of funds throughout the space. NFTs and smart contracts, secured by Blockchain technology, provide a secure way to transfer large sums of money at a much lower cost than traditional financial institutions.
Summary
This article discussed some of the most significant NFT trends that have emerged and will be the focus of attention in 2022. It should be clear that NFTs are more than a fad. Concerns about NFTs being a Ponzi scheme or multi-level marketing schemes are dispelled by the true utility that gives this entity of Blockchain technology a place in the sun.
NFTs and smart contracts have become an integral part of Web 3.0, and we can only speculate on what the next NFT trends will look like. We hope that this article gave you an idea of what to look for in NFT market trends. We encourage you to read more articles on our blog to learn more about NFT trends and everything related.