It’s hard to believe that our first post on NFTs (non-fungible tokens) was less than a year ago. To be exact, March 2021. Since then, NFTS blossomed in the arts, entertainment, sports, retailing, and so many other industry sectors. Certainly, NFTs are soaring higher and higher. If NFTs turn out to be a fad, that fad will last quite a while.
Areas of Strong NFT Growth in 2022
As we move through 2022, these sectors will enjoy great NFT popularity. According to Finextra:
- Art — “As technological advancements are taking over each and every sector gradually, the art industry has adopted the concept of NFT.”
- Music — ” Converting music into NFTs enables the creator to reach a wider audience.”
- Gaming — “Therefore, initiating NFT development services for the gaming business is a perfect way to kickstart a formidable business pillar in a perfectly competitive environment.”
- Sports — “The sports industries have entered the digital space by trading their assets like trading cards, sports memorabilia, achievements, short videos, and much more.”
- Marketing — “The most used NFT marketing services are social media marketing, forum marketing, email marketing, content marketing, influencer marketing, etc.”
- Marketplace — “Now is the perfect time for the digital community to enter the NFT domain by developing NFT marketplaces.”
- Generative Arts — “Artworks like cryptopunks, bored ape yacht club, lazy lions, and much more, have grossed millions of dollars.”
- Metaverse — “The term metaverse has become very popular these days. The elevation of this platform is certified by the NFT technology.”
For more info from Finextra, click the image.
A Dive into Why NFTs Are Soaring Higher and Higher
According to the Wall Street Journal:
Non-fungible tokens, or NFTs, have gone in the last year from a relatively obscure blockchain technology to a market valued at around $44 billion. WSJ explores how NFTs are transforming the art market and tells the story of who is behind the buzz.
Watch the WSJ video. It is fascinating. And quite informative.