Non-Fungible Tokens (NFTs), are the talk of the town with their digital proficiency. Regardless of the time and era, one thing that does not change till the end of times is the innovation and change. With this revolutionary re-iteration of the internet, with the introduction of Web3, the tide of the economy just took an upward curve for their enormous sales value of over $40 billion. This, as per records, is at least a hundred times larger than the past four years’ sales totaled.
The concept of NFTs, and its extending domains, like arts, music, video clips, games, sports, real estate, physical assets, Metaverse, etc. Though the phenomenon of these cryptographic assets has just begun, it shows a promising future for the crypto-preneurs looking for a good NFT project to Invest in.
Why should one be investing in NFTs at all?
If you have been in the digital scene for quite some time, you must also be aware of the fact that it has been just two years since the bloom of NFTs, though the first ever NFT was launched way back in 2014. There has been linear growth in the market; however, with the recent crypto winter, the market did see quite a dip. Interestingly enough, despite the commotion, the NFT market stood grounded with elevating sales volume. If someone says that NFTs are just another bubble, then show them these facts. NFTs are here to stay and will be the future of commerce.
You must all know what an NFT is and the reason for its extreme demand. One of the most dominant features of trading these NFTs, regardless of their niche, is that they promote strict decentralization. Did you know that the efficiency of these intangible assets brings forth talents of multiple domains, connecting a diverse range of audiences?
Tokenizable assets using blockchain technology
The NFTs are the digital format of the physical assets or the tokens that can verify the ownership. That is any physical item that can be converted into a digital format using blockchain technology. This allows the minted NFTs to stay protected in the nodes and allow the NFT holder to trace back to the asset and their related data anytime and anywhere. The below are such tokenizable assets that can bring out potential monetization and become the significant investment model in Web3. Some of the tokenizable assets in blockchain technology are,
- Physical Playing cards
- Event tickets
- Coupons
- Artworks
- Audio Clips
- Memes
- Sports Collectibles
- In-game Assets
- Real-estate
- Fashion, and many more.
Moving further, let us have a look at the ways in which one might have abundant opportunities to jump on with their NFT journey!
Use-cases of NFT Projects that will bloom in 2023
NFT Marketplace for Arts
Arts are the first asset that was made intangible using blockchain technology. That is, it’s for the artists’ and the creators’ benefits that decentralized commerce began. Which soon bloomed to be one of the successful ventures, with a variety of artists gaining popularity and higher profits for their masterpieces. The presence of NFT Art marketplaces is one such use-case in the industry that is constantly going up the ladder, as NFT Arts, with a sales volume of more than $333,696,645.60 by just 2021. They have the ultimate galvanizing capability to add on to all your aesthetic requests, features, and unique NFTs with multi-chain compatibility. Incredible, isn’t it?
NFT Marketplace for Games
One thing that is passed on to generations apart from culture is games. Bringing in such a gaming experience to Web2 was by itself a revolution. Pushing those boundaries, Web3 games allow the users to have immersive gameplay with multiple customized features, benefits based on their business goal, and an interface that speaks their motto. The major attraction to these intensified gaming experiences is their Play-to-Earn, Sleep-to-Earn, and Race-to-Earn models, a mechanism running the profit show to the users in the form of NFTs. It is also notable that their indulgence in a range of platforms with the virtual world will get huge in 2023.
NFT Marketplace for Sports
You can be in the darkest of places, and you will find a sports fan even there. The point is, the extensive love for sports is undeniable, and it also comes in the shape of the economy, after entertainment, of course! The ultimate engagement of the sports marketplace that allows the users to trade sports NFT collectibles like T-shirts, caps, merchandise, a short clip from your favorite sports star, autographs and photographs, and a lot more that will stimulate the little sports fan in you! Get in with the enthusiasm of investing in Sports crypto projects.
NFT Marketplace for Real-Estate
Metaverse, an incredible investment concept, is taking the business world by storm, as they are re-inventing trading altogether. That is, with their extraordinary technological arrangements in the 3D space, with stacks like Augmented Reality, Virtual Reality, Artificial Intelligence, Internet of Things (IoTs), Cloud computing, sensor recognition, and a mountain more, they are bringing alive the imagination in Real-estate Form. This specific domain is one of the most Metaverse-ready markets, which will allow the users to own and hold a share of their virtual land, gaining rewards, as well as the opportunity to acquire the physical land in possession. What else would you like in terms of business? Dual profits? Multiple incentives? Real-Estate NFTs have it all!
Closing Thoughts!
Web3 is something that is still nascent, yet humongous. This phase of technological upliftment can be regarded as a much-needed push to the business minds. As the ideas and concepts grow, the need for decentralization is set to grow, for they will become the mainstream commerce route sooner. It is also noteworthy that, despite the bear market trying to cripple the growth of the NFT-verse, they stand steadfast with their growing sales volume and not to forget their characteristic of being rare, increasing demand.
With the redeeming nature of blockchain technology and cryptocurrency, bringing your flavor of NFT into the digital era is most welcomed. The NFTs have the innate nature to be impeccable regardless of their domain, the sturdy infrastructure of the trading platform, and multiple user-centric attributes. The market is ever-growing, and the ongoing trends among business tycoons like Google, Microsoft, Gucci, etc., and even celebrities like Snoop Dogg, Steve Aoki, and many more are gaining positive momentum among the public. Are you looking for a good NFT project to invest in? Try evaluating your project with our ultimate guide above!
