A non-fungible token, or NFT, is a unique and authentic digital asset. By adding scarcity to dematerialized property, the NFT market has penetrated many sectors and generated ROI for investors. Whether you’re looking to invest or simply want to understand this exciting new technology better, read on for an in-depth look at the NFT sphere!
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 an increasing number of companies using this innovative technology.
The gaming industry in the world of blockchain is also developing exponentially, GameFi is not only a buzzword that both newcomers to the world of cryptocurrencies and experienced users know. GameFi is an area that has attracted a huge number of people and more than $750 million for only one month. The games we know are thriving, and new ones are emerging and are also doing well in the market.
According to DappRadar, in August of this year, an average of 847,000 unique active wallets (UAWs) were performing activities associated with blockchain games every day. This, unfortunately, is as much as 11% less than in July, but the industry is still using more than 50%.
The gaming industry is really popular right now. Professional gamers are starting to think about the monetization of skills and the transition to the world of P2E and even non-gamers start their world in cryptocurrencies from this very interesting gaming 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 gamers to mint NFTs as proof of skill for both traditional and blockchain games.
This shift is closely related to the fact that the gaming industry is now very popular and has growth opportunities that need to be exploited.
When a person in the NFT gaming field applies to somewhere that needs gaming experience, they simply use their wallet address and Twitter / Discord account, which makes it difficult to choose the most suitable candidate for a particular game, since 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 gamers 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!
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 drive value for both creators and collectors. Analysts have also predicted that the total value locked in NFTs will surpass $1 billion by the end of 2022, with most of this value coming from the gaming and digital collectibles sectors. In specific use cases, we are likely to see more NFTs being used for identity verification, digital rights management, and supply chain tracking. We may also see a rise 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 evolve in exciting new ways in 2022!
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 drive value for both creators and collectors, the future looks bright for this exciting digital asset class. We can expect to see more interoperability between different NFT platforms and other digital assets, such as cryptocurrencies, in the coming years. In terms of regulations, we may see more clarity around how NFTs fit into existing legal frameworks, particularly with respect to taxation and intellectual property rights. All in all, the NFT sphere is only going to grow and evolve in exciting new ways over the next few years. Make sure you don’t miss out! Want to stay up-to-date on all things NFT?
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