NFT Predictions for 2022
Nobody was prepared for how Non-fungible tokens (NFTs) would come to the fore in 2021. Just over the past year, the NFT space saw an unprecedented growth and is showing only more signs of significant development.
From Pepsi NFT to Nike acquiring RTFKT studios, experimentation has slowly evolved to something special and demonstrating that NFTs are not simply just a bubble. Paris Hilton, Drake, Kylie Jenner, Jimmy Fallon, and Post Malone are some of the celebrities that quickly jumped on the bandwagon and started investing.
But what is going to happen with NFTs in 2022? Let’s discuss some ideas and thoughts in this article.
NFTs will add more utility
Buzzword for the moment is utility. For a project to succeed in the long term, they have to be more meaningful and community oriented, something that makes them unique. Utility NFTs have to provide value to the collector that extends much further than the digital art or the name of the creator.
Utility NFT: An NFT assigns a use to the digital asset outside of owning just a piece of art. A utility NFT can be one in which you receive a physical piece of art that matches the NFT you purchased; it could be special access to an event, exclusive in-person memberships, or future use in the digital world (think gaming).
Meaning that more projects will need to offer tokens, airdrops, access to the metaverse, or commercial rights to the collectors and will have to think outside of the box to sell out their collections.
Brands will enter the NFT Space
NFTs reached over $22 billion sales in 2021. Brands are seeing an opportunity to take an active interest in NFTs and start making sales from the space.
Companies such as Nike, Adidas, Coca-Cola, and NBA emerged and partnered with major studios to create their own NFTs. Brands will continue to expand their presence in the NFT space and metaverse as 2022 unfolds.
NFT – Blockchain Games
Late 2021 has seen a number of NFT projects add play-to-earn games to their roadmap. NFTs with blockchain technology opening up opportunities for gamers to be compensated for their time.
The Bored Ape Yacht Club (BAYC) in partnership with Animoca Brands is expected to launch this year. The NFT collection The Forgotten Rune Wizards announced plans for a play-to-earn game. Following the announcement of the game the floor price more than doubled in less than 24 hours.
The gamification is an avenue that NFT projects will continue to pursue in 2022.
In-Real-Life (IRL) events
BAYC have hosted a number of very popular events including a party with live performances from Lil Baby, Chris Rock and other major artists. Some of the biggest artists have hosted a concert and hired a real-life yacht that ape holders could attend which featured more live music.
With the success of BAYC events, other NFT collections have begun adding IRL events to their own roadmap for their collectors. We should see many more real-life events happening in 2022.