Good afternoon, dear reader. Seeing such a difficult situation in the NFT market, every user asks: “Maybe these pictures are scam? There is no future, why this technology?”. We can talk about NFT for hours, but I want to briefly go through 4 points that I have singled out as the most important. So, let’s get started.
Community
Without exaggeration, this is the fuel for every project from this sphere. There is a direct pattern – the more confident the community feels, the better the collection performance. The factors for this parameter are many, from the application of NFT to the interaction of team members with the community.
Due to the recent flash crash of the NFT market, many members of dash-1 project communities have become disillusioned with what is happening, but most are still loyal holdings. Too many negative events happened in one moment, it’s not surprising.
Whales have played a significant role, and as in all fields, they can manipulate the market. If you think that there is no money left for users to pay off different NFTs, then remember the mint of the third Azuki collection, where guys brought in 400 $ETH without a second thought. Many are biding their time, that’s normal.
Separately, I will emphasize the number of developers who have recently entered this field. The numbers are huge, we can keep silent about the experience, as most of the recent projects that are “on the rumor” are built by veteran teams with many years of development experience. I’m sure these guys will reveal the NFT-sphere from the best side.
NFT-art
One of the most enduring trends. It’s amazing how during the flash crash, prices for NFT from the Art section barely reacted. Yes, there are definitely exceptions, but the major collections held the bar and some even showed growth.
Take the development of meta-universes and virtual exhibitions, fashion shows and other events related to the fashion industry. A huge user base that will follow their idols. And if we take music? The situation is the same: many fans already buy NFT-song of their favorite artist and, at the same time, still get royalties. Movies can also be thought of, a prime example being the collection from Sir Anthony Hopkins.
What technology can give such easy access to author-user interaction? That’s right, NFT. Pretty cool, isn’t it?
GameFi sector
Another undiscovered trend we all know about. Yes, we won’t see AAA games in the near future, but the road is completely open. Let’s not forget that even Call of Duty was built and improved over decades by a solid team.
Let’s add the fact that this week Google allowed projects that use NFT technology to be used in its store. This is a very big and important step for the sphere.
In my opinion, this is where a very large user base will come from. By the way, at Prime we often parse NFT projects.
Real-world application
In my opinion, this is the most underrated area. There are very few real cases, but the idea was born a few years ago. From the projects I remember, I can single out Centrifuge. With the help of NFT and other technologies, they are trying to tokenize real assets. At this stage of development of the direction, it has not succeeded.
Agree, it sounds cool if all you had to do to buy cars, housing, land plot was to go to a marketplace, study the goods and click “Buy”.
From real cases that I know about, I can single out an institution in Europe (name, unfortunately, I don’t remember), which developed a separate plan for NFT-users. A person who has NFT is a member of a closed club and always gets discounts, merch, food and similar products. All you have to do is show your NFT, scan it and that’s it, you are ready to reap the benefits of miracle technology.
What can we conclude from this material? “We are still early” and as the NFT-sphere becomes popularized, there will be more and more users and solutions of all kinds.
