There is no denying that NFTs have shown significant growth in 2021 and 2022, opening up an array of new, exciting possibilities.
It would be an understatement to say that these digital assets and piece of art have managed to surpass everyone’s expectations.
But that is not surprising at all.
However, as the new year approaches, people wonder which NFT trends they should watch out for in 2023. Aren’t you?
Well, you no longer have to wonder.
Here are five NFT trends that are likely to take off soon.
A Home Like No Other
Through advancements in technology and NFTs, you will soon find yourself taking walks in the metaverse on the land you own.
As of now, developers are trying to create a gateway into the metaverse for trading properties.
Wouldn’t it be cool to own land in digital realms too?
The Arrival Of Big Brands
Businesses from various fields are hoping to get a taste of that growing NFT action, which is why there has been innovative marketing and use of NFTs from their end.
For example, Campbell’s and McDonald’s, two well-known food brands, have released their own line of NFT collectibles to raise funds for charities.
Numerous organizations are also using this opportunity to bring about an increase in social media engagement and boost brand loyalty.
This trend is only going to get bigger and better in 2023.
Lights! Camera! NFTs! One of the many benefits of these tokens is that they pave the way for a new world of merchandising, monetization, and crowdsourcing opportunities for all.
The entertainment industry has decided to use this to its advantage and released NFT television shows.
Did your favorite show stop streaming due to financial issues?
You never know; 2023 may be the year the producers release NFTs to raise funds and start it back up again!
All About Glam
While you are reading these trends, retail and fashion companies are trying to take digital tokens to the next level.
Once they do, customers will be able to engage with and relate to future offers in a natural and comfortable manner.
Taking Out Loans
Investors are already using their NFT collections to take out loans for emergencies, as well as new ventures. It serves well as collateral and allows people to offer funds to other users. Yes, that’s right!
This is probably why the year 2022 invited the establishment of various DeFi platforms to support the use of these digital assets as collateral.
By the time 2023 rolls around, these platforms are likely to become more efficient and sophisticated in terms of loaning conditions and accessibility.
Imagine being able to access the credit you need just by showing your NFT.
The Way Forward
The market for NFTs is continuously evolving, and NFTs are becoming popular with each passing day.
2023 is going to be another big year for NFTs – there’s no doubt about it.
So brace yourself!