NFT Trends 2023: What the Future Holds

The NFT market is fast-growing with over 200,000 people exchanging NFTs every month. The number of NFT companies is also on the rise and the market is already said to be worth over $20.44 billion with many expecting it to hit the $211.74 billion mark by 2030. 

So, here are some NFT trends to look forward to.

NFTs and Information Adaptation

Drug organizations and clinical associations require safe and reliable tools to gather and manage data. Information that they deal with is confidential and there’s a high risk of it reaching unsafe hands. This doesn’t only put the organization’s reputation on the line but could also result in heavy fines.

The problem can be solved with the help of NFTs as they offer greater security and confidentiality. Organizations can secure data as NFTs and only share with authorized parties.

The Future Lies in Metaverse

The Metaverse is already a big name with major brands including Facebook, Apple, and Microsoft racing to win the largest share of the market. Similarly, even some smaller names appear to be doing well in this field. They’re not only producing metaverse-related software but also hardware that will allow these companies to reach a wider audience.

The gaming arena is where the most money lies. CryptoKitties made quite a stir in 2017 when it allowed players to buy and sell digital pets that were valued between $12 to $113,000. Today, they’re being sold for a million and even more in some cases. The potential is there and with Metaverse expected to allow concepts such as digital dating and more immersive content, we can only expect the NFT industry to concentrate more on this field. 

Many providers are offering presale NFT in-game objects that players can collect and utilize in different ways. 

AI NFTs To Rule the Roost

NFTs are made and sold on a number of platforms including OpenSea. It has made people millionaires as the demand for these digital tokens is on the rise. Even many big brands have now entered the market and names like Universal Pictures and Disney are working to convert their assets into NFTs. This has given rise to a new use case – iNFTs.

These tokens feature AI characters and represent a virtual being. This is a highly customizable option and it is believed that we will soon see proprietors prepare NFTs to win big rewards.

Fighting the replica industry

Replicas or fakes are sold everywhere from physical stores to online shops including Amazon and eBay. The industry is worth $464 trillion and has proven to be a challenge to deal with. While some buyers deliberately buy fakes, some are often cheated.

It is believed that NFTs can help identify fakes and stop buyers from getting robbed. This can be done by making a digital copy of the first product as an NFT, which the buyer can use to verify if a product is fake or real. We expect more sellers to use this technology in the future.

All in all, NFT trends indicate a bright future. We expect more people to show interest in NFTs and the market will increase in size

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