Word of the year to mainstream adoption and new use cases

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  • “We’re going to see many other industries starting to use NFTs for efficiency, for authentication, and to cut out rent-seeking middlemen.”
  • One of the biggest trends in NFT for 2022 will be the growing involvement of large companies and brands.
  • Industry players almost unanimously believe that metaverse or gaming related NFTs will be trending more than any other type this year.
  • Expect to see more regulations facing NFT emerge in 2022.

“NFT” is the Collins Dictionary Word of the Year for 2021. Yes, the acronym for non-fungible token is, in the opinion of dictionary experts, more representative of the world this year than any other recent buzzword. .

This is a significant acknowledgment of the status of crypto and NFTs, Collins describing it “as a buzzword we have heard time and time again over the past 12 months, in breathtaking news reports. and on social networks “. However, as important as 2021 has been for non-fungible tokens, industry players expect 2022 to be even bigger for it.

In particular, commentators believe that the year-end growth we’ve seen for ‘metavers’ and blockchain-based gaming platforms will translate into a significant expansion of non-fungible tokens in 2022. And although the The arrival of regulations may place some limits on the NFT sector this year, the arrival of large companies looking to jump on the bandwagon will help it to grow anyway.

Continued growth and involvement of major brands

The bottom line is that, even though the NFTs had a great year 2021, they are still extremely young. In other words, 2022 is expected to see them grow even further as a crypto subsector.

“With the explosive growth of the NFT market in 2021, it’s easy to forget that the industry is still very young, and we’re just getting started. […] In 2022, we can expect to see further market growth and maturation with the proliferation of unique new use cases for NFT technology and increased widespread and institutional adoption, ”said Alex Salnikov, Co-Founder and Head. of product at Scarcity, an NFT marketplace.

Virtually everyone else working within the NFT sub-sector believes it is just getting started, with 2022 likely to solidify its new status as the most promising crypto domain (in terms of mainstream adoption).

“We’re going to see many other industries start to use NFTs for efficiency, for authentication, and to cut out rent-seeking middlemen. This will be the next phase, where we will see a utilitarian and targeted use of NFTs, ”predicted Josh Katz, founder of the NFT-based ticketing and collectibles platform. Yellow heart.

One of the biggest trends for the NFT for 2022 will be the growing involvement of large companies and brands, as indicated by favorable statements released in recent weeks by figures such as Electronic arts and former employees of Activision and Lucasfilm. And like redeemableZach Burks co-founder and CEO says Cryptonews.com, the rise of NFTs will help inspire more people to turn to crypto and blockchain in general.

“We will not only continue to see massive brands plunge into NFTs, we will continue to see further adoption of NFTs on the public front and increased levels of crypto adoption as a result of it. You must have ETH / SOL / BSC / etc. in order to interact with NFTs and we will see more and more people interacting with blockchain for their very first time through NFTs as a medium, ”said the CEO of Digital Items Marketplace.

The extent of the growth of the NFT sub-sector in 2022 is a matter of speculation, but Burks believes its expansion will exceed what we have seen in 2022.

“NFTs have seen their volume increase 30x in 2021, to be quite frank, 30x is not much compared to the global nature and the huge impact that NFTs can really have, that’s why I expect 2022 to be an even better year for NFTs, “he said.

Metaverse, games, marketing, luxury goods, music

Given the fury aroused by Facebookis changing name MetaIt’s perhaps no surprise to hear that industry players almost unanimously believe that Metaverse or gaming related NFTs are going to be trending more than any other type this year. In fact, Burks says this particular area within the NFT is “ready to explode.”

“As soon as we have a full-scale game with every element as an NFT, everything will change. Imagine owning your home in a virtual world by owning a DTV. It will change the whole Internet landscape, ”he said.

That’s a big part of Josh Katz’s opinion that also puts the game at the top of his NFT trend list for 2022.

“The game is going to explode in 2022, it is one of the most logical uses of NFTs and it has been a long time coming,” said Josh Katz.

However, even Gaming / Metaverse NFTs will dominate in 2022, they will intersect or be supplemented by other types of non-fungible tokens.

“We will also begin to see greater adoption of NFTs in the branding and marketing world, with many mainstream businesses starting to leverage NFTs as a way to forge deeper and more experiential connections with their customers. consumers and open new avenues for customer engagement and revenue generation, ”suggested Alex Salnikov.

Likewise, Josh Katz also believes that NFTs will help boost marketing in 2022, with the founder of YellowHeart suggesting that the luxury goods industry will start using NFTs for authentication by performing physical-to-digital pairings. And given that YellowHeart largely works with music, it’s also understandable to hear him predict that NFTs within the music industry will be a trend this year (and beyond) as well.

“Music finally settles in space; 2021 was about educating the music industry and in 2022 we will start to see a lot more use cases. YellowHeart is focused on NFT ticketing for 2022, so we will be looking for this industry to adapt, but don’t expect a massive transition to 3.0 ticketing before 2023, ”he said. Cryptonews.com.

NFTs may have to meet regulations in 2022

Of course, no DTV overview in 2022 will be complete without the elephant in the room: regulation. Industry figures expect regulations facing NFT to begin to emerge this year, although we may not see concrete laws and applications until later years.

“It is always difficult to predict the regulations to come – but I expect some form of regulation to be drafted and proposed within the next year or two,” said Zach Burks, who added that ‘There is not enough information at this time to predict to what extent the regulation related to NFT will be.

According to Burks, NFTs should ideally be treated as digital certificates of ownership and nothing more, implying that purchasing a non-fungible token shouldn’t involve any knowledge-of-the-customer (KYC) or anti-KYC checks. money laundering (AML). .

“The underlying asset over which the NFT shows ownership, changes based on the type of NFT / asset and regulation should reflect this,” he said.

However, it may seem unlikely at this time that incoming regulations will avoid imposing KYC and AML controls on NFTs, especially when regulators around the world seem more or less unified in demanding that crypto – including NFTs – undergo more rigorous KYC / AML procedures. .

Yet even if regulations emerge in 2022, companies in the sub-sector support the basic principle of regulation, and believe that it will be generally positive for the growth of DTVs.

As Alex Salnikov explains, “Our goal will always be to promote wider adoption and education of NFT technology, and we understand that to do this fully, it is crucial to work with regulators to develop legislation that works for it. our community. “
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Learn more:
– Bitcoin and Ethereum price predictions for 2022
– Adoption of crypto in 2022: what to expect? – Trends in crypto regulation in 2022: focus on DeFi, Stablecoins, NFT, etc.

– DeFi trends in 2022: growing interest, regulation and new roles for DAOs, DEXs, NFTs and games
– Crypto Security in 2022: Prepare for more DeFi hacks, exchange crashes and Noob errors

– How the global economy could affect Bitcoin, Ethereum and Crypto in 2022 – Crypto exchanges in 2022: more services, more compliance and competition
– Crypto Investment Trends In 2022: Prepare For More Institutions And Meme Manias

Find more forecasts for 2022 here.


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