An introduction to NFT trends

If you’ve been around web3 for a while, you’ll have come across some trends. You may have even heard people throw around the word “meta”. For those of you who haven’t, let me explain: the Web3 space has grown its own niches—or metas—over time. While some become movements, others are re-introduced to the mainstream, or fizzle out of existence. The question is: How do you know if the latest meta will stand the test of time?

Well, you really don’t.

The history of NFT trends

NFT trends come and go, much like in the physical world. But only sometimes does a trend have the power to trigger an entire movement. Even rarer, some movements lay the groundwork for mass adoption.

But before we get there, let’s go back to the beginning. You can’t mention web3 trends without mentioning the big ones: CryptoPunks inspired a wave of pixel art like Fast Food punks, CryptoPhunks and many more.

Bored Ape Yacht Club is probably responsible for sparking half the trends we see in NFTs today. Don’t tell me you don’t have some cartoon animal in your hidden folder that ripped something from BAYC.

While the cartoon animal trend was never really going to spark mass adoption, “Roadmaps” caught on far longer than anyone could have imagined. For more context, read NFT 101, but basically the Roadmap Meta was an important step in web3’s development. It was the first time projects started making future plans for token holders.

Indeed, most roadmaps during this period were loose timelines filled with perks you had to pay for and (what would become) broken promises. But these were the good old days when everything was moonlit, so no one paid much attention.

From the onslaught of the budget blockchain Pokémon, to the showdown of anime projects, the bull market era laid the foundation for what is still popular today. Back then, there were so many types of people in the scene that every trend also spawned an anti-trend, just like the “no roadmap meta” championed by Sartoshi’s mfers.

But before I lead you down the dark path of memory lane, I’m sure you understand that this is only the tip of the iceberg. There are far more arcs of the web3 story, and each of them leaves a lasting mark on the industry.

Although the brand is a disappointing mess of pixels called Kevin.

NFT trends today are shaping tomorrow’s Web3 industry

But in all seriousness, any NFT trend – no matter how silly – shapes the future of the industry. So it’s up to us to support trends that put the average user first.

A good example of this is the recent trend of Open Edition art. Creator-centric coining platforms, such as Manifold and Zora, gave artists new opportunities to share their art with a larger audience. These platforms do not charge exorbitant fees, unlike OpenSea, and allow creators to set their own royalties and use burning features.

Personally, I loved this trend. Being a struggling millennial, I found this the perfect opportunity to pick up some amazing art from some underrated artists. Even some of the most popular living digital artists also dropped open editions, which was a huge win for artists and collectors alike. If you haven’t seen it already, just check out how “This is not Normal” by Kevin Abosch does. Spoiler alert: It still crushes it.

Another example of a project that used this traction in a positive way is “Checks” by Jack Butcher. Whether you like the art style or not, the collection inspired a ton of derivatives and blasted his name in the art world. Even major web3 projects like Rug Radio released their own Checks-inspired coins.

It’s not just that Jack Butcher’s art is interesting; it’s the way he uses blockchain technology to keep collectors engaged. His choice to involve developers helps him create more active minting and ownership experiences. If you don’t know what I mean, make sure you check out his original check collection and his Openen Edition. They are really making some waves.

Waves are all well and good…but is the whole movement sustainable? If something is trendy, it’s going to last forever, right? ….Right?

Will today’s trend lead to NFT mass adoption?

That’s the big question everyone asks with every trend. So I’ll just go ahead and answer it for you:

You’re damn right! Of course it will!

Just kidding. Life is not that easy, and neither is the answer to the question. It’s not all sunshine and roses in the metaverse (sorry).

While people will hear that the comic jpeg will be worth hundreds of millions in 2050, none of that is guaranteed. Even betting on Yuga labs is still speculation. Blindly following trends can only get you so far, and will almost sure to get you in trouble.

For newbies reading, there are two easy ways to lose money trading NFTs; shopping on FOMO or being scammed. Even beyond the more obvious carpet moves, many well-respected projects have made some questionable moves. We all know how Zagabond washed their hands with 3 failed projects before Azuki’s success. So what about Frank DeGods admits to stealing, hack and start a lime shack scooter business. And well… I’m not allowed to mention Beanie anymore.

But the point is: It’s the wild, wild west out here. Not everything is going to “make it” and it’s your job to decide what will.

The Web3 Guide to Being Unavailable

While the founders still have the audacity to fake death twice in the space of a few hours, we’re still pretty far away from mass adoption. Just look at the ad for Doo-key Dash really objectively for a second. Better yet, take a look at this little brother (almost) does the worm at the DeGods NFT Paris party.

Whether you see the funny side or not (and I hope you do), it’s not hard to see how crypto and NFT enthusiasts like us don’t have the best picture of the outside world.

Furthermore, web3 interfaces are still so complicated. Our tools are confusing, our jargon is nonsensical and… does anyone else feel like they’re in a cult?

I asked a group of speakers in a twitter room, “How many of your real-life friends know you’re interested in NFTs?”. The room fell silent before each speaker confusedly explained why they keep their web3 life a secret. The only consensus in the room is that web3 has become a bit embarrassing.

So, what do we do about it?

For our ecosystem to catch on, we need to consider whether certain trends can even attract people before we worry about the adoption process. An exclusive club is only cool if people know about it and want to be in it.

For most of us, the onboard journey involved a lot of trial and error. Even today we are all learning. How can you blame us when some of the industry’s founders are still struggling to properly manage their assets?

But Web3 could disrupt the way we live our lives. We know how this technology is already making its mark on several industries; such as art, film and even science. In the future, it will also affect much more than just these sectors.

A blockchain has features like no other type of network: It is permissionless, meaning anyone can use it. This alone opens up a world of possibilities for those limited by location or social status. It is immutable, which means it can help us document and record with better accuracy and security. Most excitingly, it is decentralized. It removes the need for intermediaries and centralized management. It allows people to vote, publish, create and own without centralized interference. By combining these features, the power is truly limitless.

Since I’ve descended into sounding like every other NFT column you’ve read this week, let me give you another tired cliché to top it off: The future of web3 is in our hands.

Yes, I know how embarrassing that sounds, but there is an element of truth to it. How the industry develops is entirely up to us.

Availability + innovation = mass adoption

So let’s break down what drives the adoption of new technology: It has to offer something people don’t already have, and it has to be available for everyone to use. This is why I will focus on innovative and accessible trends and projects in this series.

Take a moment to consider whether roadmaps would be as popular today if they were exclusive. Consider further how popular open editions would be without platforms that innovate new features.

These are the kinds of projects that will define this digital era, which is why they will be the main focus of this column. While I promise to focus on more positive trends like this, in characteristically downbeat fashion, I will also focus on some trends that are better left as passing fads.

All in all, the plan is to shine a spotlight on the trend, assess its value in the grand scheme of things, and then cruelly decide whether to give it a French kiss or the cold shoulder.

Because it’s inevitable: Mass adoption is coming. The question is; what will it look like?

Do you have something you want to share with me? Contact me on twitter via @downbeatdegen