Looking at the NFT crystal ball 2022

Gone are the days when NFTs were all about cartoon penguins and mutant monkeys. As 2022 approaches, conversations about non-replaceable tokens have spread far beyond the early questions popping into your head (What are NFTs anyway?) and ignite long readingsAre NFT just a fad?).

After generating billions of dollars, institutional adoption and verifiable social movements born from the NFT sector, it is pretty obvious to anyone who pays attention that NFTs are there to stay.

On the eve of the new year, what’s next for NFT? Here are my predictions as someone who was in this space before the zeitgeist happened.

Go over JPEGs, different use cases outside of art for NFT

From real estate, play-earn, to publication, platforms are booming to transfer NFT technology to new corners of society and culture. Games like Axie Infinity are continuously increasing their advantage with in-game NFTs advancing their virtual worlds — and legitimate forms of revenue for gamers.

While curious pedestrians could only link NFT to big digital art sales, we are witnessing what is possible when platforms blur the boundaries between art and community (See: Bored Ape Yacht Club) to represent not only ownership but exclusive membership. In the coming months, watch out for increased innovations in music (3LAU’s Royal) and even vaccination certificates, which could help improve data collection across the healthcare industry.

Hey kid, get a job! No, thanks, I’ll take NFT instead

If there’s one thing people love about Web3 and NFT, it’s how blockchain technology can help democratize seemingly everything. In doing so, they helped remove levels of door-keeping that had dictated access to employment and wealth for generations.

Crypto and DeFi have created daily traders from young investors who are more similar to the upcoming ones GameStop movie and Dogecoin mania by Oliver Stone Wall Street. NFTs create space for artists of all kinds build wealth without the need for traditional art dealers, the press, education and what has been endemic to the art world for centuries – status.

From Beeple to Pplplsr to PAK, once unknown artists are now celebrities, some of whom are millionaires overnight today. It can be said that the blockchain will continue to appear in the days and months ahead, adding a whole new element to Great resignation.

On the blockchain gaming side of the spectrum, the Sandbox and Decentraland platforms have turned players into virtual land barons, real estate agents and quasi-animal breeders. While “working” in these worlds is often more like a side crowd than a legitimate rent-paying career, players can certainly do enough compensate for certain living expenses by investing, breeding and fighting with in-game assets. As virtual worlds (and their tokens) grow and invest more, we can predict that even more players will start generating revenue through time spent on screens and in virtual worlds.

NFT for good (and change)

It’s not just about money and its holding for man – NFTs do a lot of good for everyone, from the environment to social goals, health care and fundraising. Cooperation between UN-Habitat, IAAI Glocha and Polkadot NFT chain Unique Network, Digital Art 4 Climate, dealt with some negative connotations regarding block mining and the environment for the NFT design competition focused on sustainability. Principality of San Marino adopted passports for the NFT vaccine in July 2021, a significant step in implementing ways NFT can be used to improve access to health data and documentation. Furthermore, in the charity, celebrities from Pele to Ellen DeGeneres used NFT sales to raise money for important goals, as noted in an article on Yahoo, which also pointed to the opportunities provided by NFTs in the fundraising and donation space. AND DAO it was even created to raise money and awareness of the release of convicted Silk Road creator Ross Ulbricht through the sale of NFT. As institutions and governments continue to enter the chain block, we can expect to witness even more people and platforms using NFTs to prepay.

The emergence of trademarks

Budweiser, Adidas, Nike, Taco Bell—Many of the world’s most popular and most profitable brands quickly left their mark on the NFT space. But what will be even more interesting to see next year are brands outside of culture, clothing and commercial trade that are entering the mix. Blockchain has long been a decentralized antidote to the dangers of Web 2.0 and Big Tech.

But now we see giants in the industry whose end result has long relied on data and proprietary software, like Microsoft and IBM, dip your fingers in NFT technology as a way to expand your reach. In a year from now, almost every massive technology platform will work something in NFTs?

Expansion beyond Ethereum

Since the first Cryptokitty was created, the Ethereum blockchain has attracted the most attention because it is responsible for the exponential growth of NFTs. Although Ethereum had a conversation with the NFT mania of 2021, it was also home to the infamous network congestion, excessive gas charges, i primitive use cases. Enter the NFT potential of the next generation alternative blockchain.

In the second half of 2021, alternative chains such as Kusama, which has just passed its first round of parachain auctions, and Solana, which is the newly announced house of the new Michal Jordan NFT application, show their potential for scalability, consumer and investor interest. Something tells us that in 12 months these relative newcomers will give Ethereum a test for his hashrate.

Guest post by Aleksandar Mitrović from Unique Network

Alexander Mitrovich is a technology leader in education, experience and nature who believes in the value of passionate decentralized ecosystems and their ability to drive revolutionary technologies. For the past 20 years he has led teams in innovative companies such as Luxoft and others. In 2017, Alexander founded the Blockchain Lab at Usetech and used this platform to investigate cases of blockchain use that can encourage mass adoption through project development in various blockchains.

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Posted in: Post Post, NFT
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