NFTs: What’s to come?
NFTs have become one of the hottest crypto features, yet there is still so much uncertainty about what lies ahead. With the primary market for NFTs now two years old, it's time to start thinking about its future potential - namely, what will happen with this promising technology in 2023? From the artistic side to corporate use cases, many aspects of NFTs may be drastically different in just a few short years. This article will explore these possibilities and how they could shape the industry and its most dedicated users in 2023 and over the next few years.
As we’ve learned over the past years, the ability to assign a unique digital signature to an artwork and the power of a trustless system makes it easier than ever before for artists to monetize their work, allowing them to receive payments from buyers quickly and securely. This opened up new creative avenues for artists who may have previously been unable to access markets for their art. In addition, NFTs offer unprecedented interactivity between art and its audience. For instance, virtual reality (VR) experiences using NFTs allow users to explore artworks in entirely new ways—and even become part of the artwork itself! As VR technology continues to evolve over the next couple of years, we can expect more creative opportunities for NFT users that blur the boundaries between artist and consumer.
In 2023, we anticipate artists to be much more comfortable using NFTs as part of their creative process. We can also expect more collaborations between traditional artists and blockchain-based projects as those on both sides of the fence look for ways to capitalize on this emerging technology. Additionally, there could be a rise in experimentation within the medium as artists explore different types of artwork and content that can be tokenized on-chain. Increasingly, we may see NFT projects use various blockchain technologies, potentially getting more involved with Defi, allowing them to further empower their communities with a mix of fungible and non-fungible tokens.
Some personal thoughts on the future- NFTs could become increasingly associated with physical products or services. Just as companies used to give away promotional items like t-shirts or mugs with their logo, they may begin offering unique digital assets like an exclusive item tied to a game or movie. This would create an even closer connection between owners and brands than is already created by loyalty programs. Furthermore, these digital assets could even be sold at a premium price if they are associated with something high value, such as sports tickets or concert access.
As 2023 evolves, it's clear that there is much potential for Non-Fungible Tokens (NFTs). The technology has already created a wealth of creative opportunities for artists and viewers alike — with more sure to come as virtual reality continues its evolution. No matter where you stand on NFTs now, it’s hard not to be excited about what lies ahead! So if you're an avid follower of NFTs and blockchain - buckle up! It's going to be quite the journey ahead!
Unit Network is building the Token Economy of the future, with billions of tokens to represent the whole world on a blockchain. Our core team and advisors have already raised $13.5 million in assets. Unit envisions a mission of solving Wealth Inequity and Sustainable Development Goals and promotes diversity and creativity within the community. We welcome you to the new social economy where your friends, biggest fans, and financial supporters can join you and your mission. We hope to see you join and be a part of this exponentially growing network!