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Everyone has opinions on NFTs (non-fungible tokens). For some, they’re just another fad that’ll fizzle out any day now. For others, they’re the next big thing in the cryptoverse. Regardless of where you stand on the issue, there’s no denying digital collectibles like these are going to continue their impact on the crypto market in 2022.
NFTs first rose to prominence in early 2021, when digital artist Beeple sold an NFT of his artwork Everydays: The First 5000 Days for a record-shattering $69 million at Christie’s auction house. That milestone opened the floodgates and led to countless headlines, involving more non-fungible assets such as crypto art, NFT avatars, real estate and GameFi. NFTs were such a hot topic in 2021 – be it on mainstream newspapers or major social media platforms – that the Collins English Dictionary ended up selecting the acronym as its word of the year.
Besides their impact on the general population, NFTs have also opened up a whole new world for blockchain technology, with new developments in smart contracts, the Ethereum blockchain and many others.
As developers come up with more applications for the technology, the popularity of NFTs shows no signs of slowing. To give you an idea of where the market may trend, we’ve taken a snapshot of the latest and hottest trends that we’re likely to see more of in 2022.