What will mark the NFT industry this year: evolution and trends

In recent months, the popularity of non-fungible tokens or Non-fungible token (NFT) has skyrocketed in recent months and, with it, the doubts surrounding this new phenomenon. Looking ahead to the coming years, it is expected to maintain the same growth curve despite a slight drop in popularity.

In fact, according to a Chainalysis report, NFTs moved $26.9 billion in cryptocurrency transactions in 2021. For this reason, IEBS Business School, the leading digital school in online training, points out some NFT trends for 2022: More value for content creators: NFTs represent a great opportunity so that digital artists can have control over the ownership of the assets and then they can have a greater right to royalties. It is a system that greatly benefits artists and digital content creators.

An NFT is the seal we put on something to say that it has a single or multiple owner. We can make NFT’s with everything, with music, images, with land in a virtual field, etc. It is a new way to verify ownership. One of the most famous sales of NFT’s was carried out by the renowned American boxer and youtuber logan paul. A year ago he released 3,000 NFT’s of Pokemon cards and in a few days he sold all the assets for 5 million euros.

The Consolidation of the Metaverse

One of the NFT trends for this year has to do with the Metaverse boom. Apart from learning the many benefits of an even more connected world, it is possible that in the coming months certain metaverse projects begin to be seen in the world of NFTs. In what could be conceived as a saturated market, everything indicates that investors, creators and users in general will begin to gravitate towards the Metaverse with greater traction. The advantages of blockchain, cryptocurrencies, and NFTs will be offered directly within the Metaverse, removing barriers to entry.

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Asset tokenization could disrupt traditional industries: Beyond creating NFTs in the metaverse, they can also be leveraged to tokenize both tangible and intangible assets. For example, the film industry has also been affected by this potential. neither more nor less than Quentin Tarantino became one of the first great directors to auction off seven uncut scenes from the famous film pulp fiction like NFTs. The NFTs will include the film’s first uncut handwritten scripts, as well as exclusive commentary from Tarantino. This content, as expected, can only be seen by the owner.

New opportunities for charity

As the world understands the benefits of tokenization, NGOs are starting to see the potential as well. NFTs can help develop charitable initiatives in a decentralized and online way with less overhead compared to classic auctions. The application of smart contracts to NFT create even more charitable places. This is because these algorithms can program NFTs to automatically transfer funds to a good cause with every transaction. Additionally, donations made with cryptocurrencies offer lower transaction fees and near-instant payouts.

New subscription models

The benefits of NFTs are multiple and all sectors are looking for ways to exploit this world. Another of the newer applications is to use them as alternative subscription models. For example, the American magazine Time is leading the way among traditional publishers in experimenting with NFTs as alternative digital subscription models.

Their new initiative, TIMEPieces, offers NFTs from 40 different artists and also makes the owner a member of the community. TIMEPieces works as an alternative to Time’s digital subscription, unlocking all content for NFT holders and giving them access to exclusive digital experiences and events.

The financial industry is becoming a fundamental part of the management and operation of professional activity. In addition, new companies are born without fear of incorporating technologies such as Blockchain or Fintech as key elements in a transformation of the economy and society”, explains Oscar Fuente, Director and Founder of IEBS. “Undoubtedly, this is a unique opportunity for those professionals who want to develop their skills and knowledge in the field, since it is a growing sector with a promising future”Add.

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