what can we expect in 2022?
A non-fungible token, or NFT, is a unique and authentic digital asset. Adding scarcity to dematerialized property, the NFT market has penetrated many sectors and generated returns for investors. Whether you’re looking to invest or just want to better understand this exciting new technology, read on for an in-depth look at the NFT sphere!
How the NFT market is developing now
Cryptocurrencies and everything related to the blockchain are more popular in 2022 than ever. The industry is seeing significant growth, with Bitcoin and NFTs (Non-Fungible Tokens) at the forefront of this movement. In fact, NFT sales in 2021 were approximately $24.9 billion. That’s a huge increase from roughly $94.9 million in 2020! This has been made possible by an ever-growing list of satisfied customers and a growing number of companies using this innovative technology.
The gaming industry in the world of blockchain is also developing exponentially, GameFi is not just a buzzword that both newcomers to the world of cryptocurrency and experienced users know. GameFi is a site that has attracted a large number of people and more than $750 million for just one month. The games we know are flourishing, and new ones appear and do well in the market as well.
According to DappRadar, in August of this year, an average of 847,000 unique active wallets (UAWs) performed activities related to blockchain games every day. This is unfortunately as much as 11% less than in July, but the industry still uses more than 50%.
CEO and co-founder of the Skill Labs project has comments on this topic
The gaming industry is very popular right now. Professional players are starting to think about the monetization of skills and the transition to the P2E world, and even non-players are starting their world in cryptocurrencies from this very interesting game direction. These current trends in the NFT space can be seen as a move towards a more user-friendly experience.
The most important thing for many is to see your real experience in games, to understand that your achievements exist and it is easy to prove them not only in the game, but also outside it. And this is easily implemented and vividly demonstrated by the Skill Labs achievement system, which allows players to create NFTs as proof of skill for both traditional games and blockchain games.
This shift is closely linked to the fact that the games industry is now very popular and has growth opportunities that must be exploited.
When a person in the NFT gaming field applies to a place that needs gaming experience, they simply use their wallet address and Twitter/Discord account, making it difficult to select the most suitable candidate for a particular game, as it is impossible to evaluate their knowledge, skills and previous experience.
Therefore, in this revolutionary area, there should be a real way to stand out, and not just provide in-game screenshots and describe your gaming experience.
Skill Labs allows millions of players to claim in-game achievements in Web3 and classic games in the form of NFTs. This allows users to have a universal platform that provides full transparency, especially important in Web 3.0!
What analysts think about the future of NFT
NFTs are the future of digital assets. 2022 is a big year for them, we can already see this!
It is 2022; we can expect to see more mainstream adoption of NFTs and a stronger focus on use cases that create value for both creators and collectors. Analysts have also predicted that the total value locked in NFTs will exceed $1 billion by the end of 2022, with most of this value coming from gaming and digital collectibles. In specific use cases, we are likely to see more NFTs being used for identity verification, digital rights management and supply chain tracking. We can also see an increase in the use of NFTs for experiences and services, such as online courses and memberships. Overall, we can expect the NFT sphere to continue to grow and develop in exciting new ways in 2022!
Summary
The NFT sphere is booming and only going to get bigger in the future. With more mainstream adoption and a focus on use cases that create value for both creators and collectors, the future looks bright for this exciting digital asset class. We can expect to see more interoperability between various NFT platforms and other digital assets, such as cryptocurrencies, in the coming years. In terms of regulations, we can see more clarity on how NFTs fit into existing legal frameworks, particularly with regard to taxation and intellectual property rights. All in all, the NFT sphere is only going to grow and develop in exciting new ways over the next few years. Make sure you don’t miss a thing! Do you want to stay up to date on everything to do with NFT?
