The NFTs market size has ballooned significantly between 2020 and 2021, reaching a sum of $41 billion. With the trends, NFTs will impact how significant things in life occur and affect your life in one way or another.
Yet, not everyone can answer the question, what is NFT, or understand how the collectibles work. Well, NFT stands for non-fungible tokens. They’re unique, digital assets businesses and individuals can use to promote their products and raise funding.
NFTs have been a long journey and are still bound to go far. This article provides an in-depth look at the most incredible moments of NFT in 2021 and what to expect in 2022. Scroll to stay up-to-date.
1. The Iconic Memes Selling As NFTs
Memes have for a long time been items for humor around the internet streets. But did it ever cross your mind that these elements can be items of trade? That’s what occurred in 2021.
Originators of iconic memes, including Bad Luck Brian, Doge, Nyan Cat, etc., decided to bring in a new blockchain experience with their pieces of creation.
These creators used verifiable virtual ownership to mint and sell their IP as NFTs, with some experiencing massive success and six-figure sales.
2. Beeple’s $69 Million Auction
The Beeple’s every day took NFT art a notch higher in 2021. It’s a collage containing 5000 pieces of digital art that Beeple posted daily from May 1, 2017, to January 5, 2021. Christie offered the art for the NFT auction.
What’s more captivating isn’t the high price that the buyer, Metakovan, had to pay for the digital assets. Many NFT enthusiasts still find it thrilling that the investor had to wait for over 24 hours for the transaction process to end.
3. The NBA Top Shot Sales Size Surges
NFT and metaverse are rapidly changing the world in many ways. But no talks about the great NFT moments of 2021 can be complete without the NBA Top Shot. It was hurled in October 2020 and witnessed a slow start.
Later, an exponential leap ensued, with sales rising from $896,161 in Dec 2020 to $40,547,118 in January 2021. The beginning of the year (2021) also saw significant growth in NBA Top Shot sales, reaching an all-time high of $224,070,124 in February.
4. The Growth Of DAOs To Continue
DAOs (Decentralized autonomous organizations) are fundamentally changing the norm in business start-ups. They’re arguably more trustworthy and assist in instant and fair wealth distribution. Also, DAOs give collectors active control over the direction of their projects.
Thus, DAOs are facing a possible expansion in 2022, from votes to raising funds for community growth.
5. More Tokenization And Gaming
This is one of the biggest NFT trends to expect in the year. 2022 will see several NFTs move from promoting art to adding utility to their functionalities. These may take the form of gaming or admission to their particular communities.
This new trend is evident with video games where participants can purchase and unlock real-value items into their blockchain. Axie Infinity is another example of a “play-to-earn” game.
NFT: Is It The Future?
From arts to music, to football, and other areas, there are no limits to which fields NFT growth and popularity have not touched and changed. If you still don’t understand what is an NFT, this is the time to get curious and learn more about these collectibles.
Connect with us for more information on how you can use the new trend in your marketing strategy.