The rapid emergence and growing interest in NFTs (Non-Fungible Tokens) and the metaverse in 2021 marked a significant shift in digital interaction and commerce.
NFTs, which gained significant traction around March and peaked in popularity by summer, have drawn widespread attention, with celebrities like Snoop Dogg actively engaging in buying, producing, and investing in them. This trend reflects how a relatively small number of participants can create a substantial impact.
In 2022, the landscape is expected to evolve further, especially with the launch of platforms like Coinbase’s NFT wallet, which could potentially expand access to NFTs to millions of new users. This expansion signifies a significant step in the mainstream adoption of NFTs.
The metaverse, interwoven with NFTs, represents a composite of services and experiences enhanced by Virtual Reality (VR) and Augmented Reality (AR) technologies.
It offers an alternative, digital universe where individuals can play games, study, earn money, and socialize through various thematic universes and personalized avatars. This concept, popularized by media like the movie “Ready Player One,” indicates a future where digital and physical realities increasingly converge, offering new forms of expression and interaction.
NFT tickets are coming
In the realm of NFTs, the scope will expand beyond just art. I foresee that ticketing systems will transition to an NFT-based structure, with several startups already addressing this development.
Decentralized systems will significantly reduce fraud and loss in ticket-related products. As a result, this shift is likely to impact various business sectors, particularly those that rely on intermediary ticket selling systems.
Buying pieced artwork
NFTs also enable the purchase of a fraction of artworks. There are plans for selling a piece by Banksy in this manner soon. Imagine being able to buy 1% of a renowned artwork as an NFT.
This implies that numerous investment opportunities, traditionally exclusive to wealthy individuals, could become accessible to the general public.
The real estate market enters NFT
Deeds and NFTs share a similar structural framework, paving the way for the real estate market to embrace both fractional sales, akin to art pieces, and the merging of metaverse and real-world properties. Imagine this: the summer house you frequent in the Sandbox could physically exist in Bodrum, and you could acquire both entities for a single price!
Web3 comes into our lives
The Web3 concept revolves around decentralization, asynchronous organizations, sharing, co-production, and rewarding. As more companies and startups adopt this model, consumers, for the first time, are rewarded for using the internet and various services.
They can safeguard their assets, contribute to or engage in projects within low-risk structures, thereby gaining financial independence. We can aptly term Web3 as the “creative economy,” and its influence is set to continue growing.
Music NFTs will increase
In 2022, I anticipate that NFTs will cause a significant upheaval in the music industry, similar to their impact on the art world. The portability of copyrights through NFTs, along with their capacity for interaction and experimental editing, addresses critical needs in the music market.
The most advantageous aspect is the elimination of intermediaries and the automated resolution of royalty payments. I believe many independent artists will release their albums and songs as NFTs.
Metaverse x real world experience
As experiences in the metaverse expand, the concept of translating these virtual experiences into the real world is also gaining traction. Brands established within the Metaverse are transitioning from digital to physical realms through real-world activations and products, a trend expected to grow.
The increasing wealth of creatives will fuel the growth of the creative industry, elevating society as a whole. This renaissance, driven by the Metaverse, will not only enhance our quality of life but also boost the production of quality content. This, in turn, will foster the generation of novel ideas.
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