NFT 2022 Predictions, Reflecting, and Evolving

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Last year, clubhouse rooms were booming, artists learned about NFTs, and no one knew what would happen next.

Space grew exponentially last year, far beyond anyone’s expectations. For example, NFTs have evolved significantly, from 1/1 auctions at the Foundation to PFPs that collect enthusiastically and more sophisticated NFTs that benefit collectors.

NFT and IT industry

The Collins English Dictionary has named it this year’s term because NFTs have taken over the IT industry. The stigma and distrust of many people attracts mainstream brands and businesses that are investing in learning more about how space works and how it participates.

Corporate experiments have grown to be confident, proving that NFTs are more than just bubbles. Celebrities such as Jimmy Fallon, DJ Khaled, Stephen Curry, Post Malone and Paris Hilton are investing in NFT initiatives.

Fear of some controversy, drama, and horror still exists, but a key indicator of potential and optimism is working to build space every day. But what about next year — what’s on your digital investment card?

NFT utilities

The NFT collection sold out last year just because it has 10,000 profile pictures. But as months went by and as we learned more, we realized that many couldn’t bear to dig a hole in every collection. Hype can only get a collection so far, and now it’s useful. For a project to survive, it needs to be defined, unique, and value collectors beyond art and name.

Tokens, airdrops, metaverse access, and commercial rights are the ways collections are attracting collectors and trying to sell out.

More brands will enter the NFT.

With 2021 revenue of $ 9 billion, the possibilities are endless. Nike bought the pioneering RTFKT studio, and Adidas teamed up with NFT startups such as Punks Comics, BAYC, and Coinbase. As 2022 progresses, the brand will continue to increase its presence in the NFT space and continue its metaverse. This scene can get a lot of attention.

DAO will increase.

DAOs are public, transparent and decentralized, using tokens instead of stock. They are more reliable and allow real-time wealth distribution. DAO allows collectors to actively participate in the direction of the project.

DAO will continue to thrive in 2022, from voting to money and community expansion. Wyoming has identified its promises, despite regulatory and legal ambiguities, by enacting a bill that officially recognizes DAOs. Their decentralized nature is gaining momentum and further changes are expected next year.

Airdropped token

ENS Domain Airdrop and the recent $ SOS Token Airdrop provided tokens to early users and supporters. Similarly, BAYC will release tokens that reward owners, while gm will release $ gm tokens that reward Twitter’s involvement in gm culture. These tokens underscore the need to interact in the area. More token airdrops are expected in 2022. From what we’ve seen so far, we need to participate in a viable way.

NFT / blockchain game

Blockchain technology has enabled new ways for players to reward their time. With CryptoKitties laying the groundwork in 2017, some NFT projects include playing and earning games on the roadmap in late 2021.

BAYC will be unveiled in 2022 in partnership with the Animoka brand. The Forgotten Rune Wizard also revealed the intent of the play-to-earn game, with minimum rates more than quadrupled within 24 hours.

Known NFT diagram

Loopify’s unique NFT game, Treeverse, shows the potential of blockchain games. The NFT project will continue to pursue gamification in 2022.

The most important event was the week-long acquisition of NYC at BAYC, which coincided with the 2021 Apefest. Thousands of NFT fans landed in the city and turned to online characters. This is something that many haven’t done since joining the space.

It was an opportunity to blend digital and reality, and it was fashionable. BAYC also sponsored a warehouse party with The Strokes, Lil Baby, Beck, Chris Rock, Aziz Ansari and Questlove. What’s more, they invited apes to a real boat party with live music and dance.

Following the popularity of the event, more is expected in 2022 as other NFT collections have begun to integrate IRL events into their roadmap.

NFT will innovate

Since the beginning of this year, billions of people have entered the NFT space. Interestingly, in 2021, PFP, 1/1 and generative art all took the lead. There are so many similarities in the market that we need more original art and concepts.

Recently, a collection called JPGpeople has been introduced, allowing collectors to contribute to the creation of art in one word. It encouraged thinking, creativity, and most importantly, it was novel. Expect more innovative NFTs in 2022 than just clicking on mint.

Things change.

Obvious, but hidden. Last year, much happened, from trends in the NFT market to the price of Ethereum and even the entry of companies into NFT. No one could have predicted where the NFT would be last year, and I suspect we could see the depth of the NFT next year.

Given what happened and what is expected in the future, we can confidently state that 2022 will be an interesting year.

Of course — others lose their shirts. Therefore, do not count Banksy before hatching.

Image Credit: Cottonbro; Pexel; Thank you!

Diana Ritchie

Manage editors with ReadWrite

Deanna is the editor-in-chief of ReadWrite. She previously served as Editor-in-Chief of Startup Grind, and she has over 20 years of experience in content management and content development.

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