NFT or Non-Fungible Token is a type of programming like Bitcoin and Ethereum. In NFT, the buyer owns the original items. NFT has an inbuilt authentication which can be used as ownership proof. So, what are the top 5 NFT trends in 2022?
Top 5 NFT Trends in 2022 – Metaverse, Music, Artworks, Movie Industry, Game
There’re numerous trends with NFT. Examples are: NFT Metaverse/Branding, NFT music industry transformation, NFT movie industry take over, NFT artworks, and NFT Game Revival.
NFT Metaverse/Branding
Metaverse is considered a $1 trillion business opportunity; it’ll be strong turbulence in our everyday life. It’s a digital world to simulate using VR(Virtual Reality)
You can create or buy lasting items like clothes, weapons, and characters and use them in separate worlds.
Qualities of Metaverse
- Stable: It’s very effective; it’s inextinguishable or removable.
- Personal Economic System: Digital currencies enable virtual digital economies to be buoyant.
- No Limit: There’re no hindrances between the digital and real worlds. It is limitless.
- Decentralized: there is equality of control of the Metaverse.
- Immersed: its wide-spectrum tools can enable a user to encounter an immersive face-to-face visual experience.
- Social Encounter: enables users to have a social relationship. Artificial Intelligent structures aids design creation events to happen in the company.
Some Metaverse Trends
- Project associated with the buying and selling of virtual products.
- Boost development of real projects.
- Adding all the complexities and elements of a real human ecosystem and taking out the idea of a mere avatar.
- Use of better mobility devices like sensor suits, gloves, reality glasses, reality helmets
- And discontinuation of the use of static screens.
Risks of Metaverse
- Bullying
- Use their image
- Consequences of Addiction
- Loss of privacy risk
- Shared personal Information.
NFT Game Revival
Before the start of the game, players need to buy 3 Axie NFTs through an in-house marketplace app.
Axie Infinity enables NFT owners to make money in-game currency and convert it to real money. Either by selling Axies to other players or by winning game battles.
NFT Artworks
An NFT can be an artwork, music, an article, or any digital file.NFTs also enable creators to display digital artworks, sell them or lease them. An NFT art is created when designers want to get legal ownership of their work.
So, the value of the artwork drops when the value of Ethereum drops. Another disadvantage NFT faces is the power consumption needed to sell NFT Artwork.
NFT Music Industry Transformation
The transformation of music caused by NFT is an NFT top trend for this year and other years. The new technology makes it possible to produce songs, lyrics, and soundbytes as NFTs.
“Our Song” NFT music platform intends to cause a demarcation between artists and fans; it also wishes to teach artists more about NFT.
NFT Movie Industry Takeover
If not for the complexity of movie licensing, NFT would have been a huge part of our fan experience and engagement.NFTs create an amazing way to build a fan base that will watch the movies and generate finance for movie production. For example, a movie called “Stoner Cats” raised $8.4 Million in sales of NFT by the end of July.
NFT Key Statistics in 2022
- In 2021, the NFT market had a profit of $41 billion.
- “The Merge” is the costliest NFT sold for $91.8 million.
- Every week $10 – $20 million value of NFT is sold in the blockchain.
- In 2020 the total NFT sales value was $250 million.
- In 2014 the very first NFT was formed.
- Cost less than $200 for more than 50% of NFT sales.
- Every month on the open sea, more than 250,000 respondents trade NFTs.
- Popular NFT Facts and Statistics 2022
How many People buy NFT?
There were 39,000 people throughout March and 10,000 people in 2020. Over 30,000 outstanding wallets acquired NFTs from general marketplaces in April and May.
What’s the Average cost of an NFT?
Currently, prices are approximately $300. The cost of producing digital art goes from $70 to $150. Yet find the current prices at the marketplaces.
What is NFT Energy Usage Like?
Director Gary Cook of Greenpeace International states that cryptocurrency uses up to $6 billion +, for electricity generation. Annum.
Which Marketplace is the largest NFT?
Opensea is the largest of them all, even though the market sizes have been on a steady increase.
Are People from China and Singapore the most people interested in NFT?
Based on statistics, people from China and Singapore are the top traders and marketers in NFTs. Venezuela took the third position.
Is Nigeria’s NFT growth predicted to be the Biggest?
Nigeria is predicted to grow from 13.7% to 35.3%. In NFT, both classes of individuals have a similar passion for NFTs.
Frequently Asked Questions on the Top 5 NFT Trends in 2022
What is the estimate of an NFT?
Most artworks and designs are below $200 per token; excess cost could result in loss.
Is the NFT Industry massive?
In 2021 the NFT industry was estimated at $2 billion. With so much buying and selling on the marketplace, the industry is bound to exceed that value.
What is the estimated value of sales in 2020?
The total value of sales of NFT in 2020 is $250 million. This is four times the sales made the previous years.
What are the weekly expenses on NFT?
Statistically, the value of NFT sold on blockchains is over $10 to $20 million weekly. $1 million is spent in one seven-day duration.
What is the first Million Dollar NFT?
On February 14th2018, an art piece named “Forever Rose” was worth a million dollars.
When was the Minted NFT first done?
May 2014 first minting was by Kevin McCoy. It was a ground-breaking-one piece of artwork.
What is the most expensive NFT Tweet?
The tweet was for $2.9 million by CEO of Twitter Jack Dorsey. He sold his first ever tweet to a 15-year-old tweet private collector.
What is the most expensive NFT song?
The song was worth $1.33 million by late March 2021. The buyer was SlimeSunday of 3LAU fame.
How much did Lebron James sell his NFT?
Lebron James, an NFT developer, sold a statue of himself for over $21.6 million.
What is the Average Price of NFT?
Some go for just $200 or as low as $150. However, some platforms sell at an average of $500.
