Non-fungible tokens (NFTs) took off in recent years. Billions of money have been traded on NFTs and there has been a rise in a community that strongly backs up this technology. Gradually, we are seeing NFT trends starting to be adopted by different industries like gaming, finance, and art.
Even though NFT remains a controversial topic because of the technology’s environmental impact, many believe it's an innovation that can disrupt several industries by making it more future-focused.
Companies are starting to use these technologies successfully in different industries such as anything that incorporates the metaverse and gaming or art industries as we mentioned earlier.
What we have seen in recent years is that NFT space is majorly dedicated to digital artists, but as this technology is evolving on a daily basis, it's expanding its wings on a larger scale to support other industries as well.
We will talk about a few NFT trends that will blow up in 2022 and the years to come. Incorporating these trends into your signature style is the secret sauce that will help you become successful on various online marketplaces that caters to these digital assets.
NFT in Healthcare
Now you might be possibly be thinking - “Did I read that right?”
It is predicted that NFTs will find their way into healthcare. To be precise, the healthcare data. With the pandemic situation, people have become more conscious about their health.
Users track their health data on wearable devices, they search online for solutions, and there are even various apps where they input their health data to get a better diagnosis. All these data are being frequently monitored online.
Heath data is a piece of vital information that is traded in large industries to find solutions to various ongoing issues. Unfortunately, the common people do not have any control over how their data are distributed.
The use of NFT in healthcare cites the potential to give people control over their health data and to potentially make money from it. Personal health data is being continuously bought and sold all the time, but very little of that money is going to the person who really "owns" it – you.
It’s very easy for large corporations to gather your health data like your heart rate, blood saturation level, etc from devices that you wear daily.
With the introduction of NFT in healthcare, these data can be tracked and there can be only one owner of the data - YOU! This means that you can get a royalty with the smart contract of the NFT and blockchain technology whenever your data is being passed on to a third party.
NFT trends like these will prove to be a huge benefit if deployed correctly in the near future.
NFT in Metaverse
Metaverse is a virtual reality that has taken the tech world by storm! Technologies are evolving daily and like it or not, no one can stop this world from diving deeper into the world of AI.
There will be many mind-blowing NFT trends that will be gradually coming into effect. The intersection point of NFT and metaverse is one of those. The Metaverse is a new way to connect and interact with people, things, and businesses.
"Metaverse" refers to a highly immersive future internet. For example, people could work, play, socialize, travel, and even educate themselves within this space- all while staying completely connected. Of course, it's an advanced concept of VR.
The implications of these are endless and the possibilities are hard to even imagine as of yet. So how does NFT comes in this space?
NFTs will find many uses in the virtual reality world that make up the metaverse. For one, they enable digital goods to be unique. We live in an era where people like collecting and exhibiting rare artifacts. Therefore, the virtual world won’t be any different.
Unique digital artworks can be displayed in an art gallery in the virtual world of the metaverse. Nike has made over $3 Million by selling 600 pairs as NFTs. These were actually the images of the shoes that generated this large amount of money.
NFTs are relatively new and can be used to create a wide variety of digital assets. One example is avatars that are unique representations of specific individuals. This is also one of the new trends in NFT that has a huge scalability potential.
Attributes like the avatar's appearance, behavior and skills can all change depending on how they're enhanced or modified. For example, These attributes of individual avatars will help you determine how they play or behave in a game.
The non-fungible digital assets could become the next generation user interface for the internet, which will have the ability to replace traditional methods of banking for online services.
One of the advantages of using NFTs over the old-school methods of IP creation is that you can own a small piece of a large brand. It gives you a chance to make money from it because its image is already established in the market.
For example, NFT Avatars like StereoheadZ and Bored Ape Yacht Club enable users to issue their own art for the community. It's an exciting and new way of bringing about creativity that offers a place for animators, artists, and musicians alike.
NFTs in Big Brands
Brands continue to jump on the hype of NFT blockchain technology. It seems that every industry is trying to find its niche in this brave new world. Famous food brands like McDonald’s, Taco bell have already released their NFT collectibles.
Luxury brands like Louis Vuitton and Gucci have also released their limited edition NFTs. These help brands reinforce their brand loyalty, increase social media engagement, find new revenue streams and make charitable donations.
Last year in July 2021, Coca-Cola had released 4 NFTs on International Friendship Day. These animated, digital artworks provided unique surprise items that would get unlocked when the first owner purchased them.
One of the surprise items was the “Coca-Cola Bubble jacket” that you can wear in the virtual world of Decentraland. Another item was a “Coca-Cola friendship day card” where the inspiration was drawn from the 1940s original artwork.
Now coming to one of the most popular ones is NFTs in the gaming industry. Many games that one can find in the modern world involve NFTs and people often indulge in them in the form of enjoyment and thrill.
With these games, players are given additional rewards for their efforts and they get to enjoy the whole experience of the gameplay.
For instance, people will demand more NFT in gaming when they can earn rewards by defeating their friends. This aspect makes the whole gaming experience exciting and thrilling because people can earn NFT rewards based on the outcome.
Non-fungible tokens and blockchain technology have immense potential in the gaming industry. When you see games like Blankos Block Party and Axie Infinity, these are in-demand games because you get to earn while playing these games. And who wouldn’t like that?
CryptoKitties is another example where you can collect, breed, and sell NFT kittens. There is a big hype for games like these that make it a fun experience for the users setting new NFT trends across the whole industry.
Whether you’re interested in learning about NFTs, staying up to date on what’s happening, or using them for business purposes, there's no doubt that you also need to be thinking about how it works to keep up with the ever-changing trends in NFT.
NFT ownership is only going to increase, and they're changing the way we interact with digital assets on the blockchain. Like any new technological innovation, it's constantly evolving, which means that there are endless possibilities for where these NFT trends could go in the future!