Are NFTs also on the loss radar?
In the span of three years, NFTs gained immense popularity. With that, people started waiting for famous drops from well-known artists. The artwork that majorly brought the spotlight on NFTs was Beeple’s Everydays: the First 500 days. This particular NFT was auctioned in Christi’s and bagged a whopping $69 million.
That was the start of NFT, and it continues to expand. With major industries, like gaming, sports, music, and arts, willing to take in the NFT technology, why is the delay for us to invest in it? Probably the current news headlines. Yes! The blockchain market is indeed facing a setback presently. However, these setbacks are not significantly affecting the NFT marketplace.
However, as we know, NFTs greatly depend on demand. If demand is high, NFTs have higher floor prices. But we cannot assure when the market fluctuates. Some of the best NFTs in 2022 are
IMPT: an NFT collection that aims to fight climatic changes
Bored Ape Yacht Club: Up-and-coming art NFTs currently have a floor price of 70 ETH
Cocky: an exclusive NFT lifestyle club that allows the user to access world-class events.
Future of NFTs
NFTs have been here for a long time and are here to stay longer. There are several use cases of NFTs being unveiled in recent years. From play-to-earn to learn-to-earn, it has come a long way. P2E methods are basically for those who are not that familiar with trading. However, L2E methods enable you to understand NFTs while earning. This was just the beginning. Now there's been a new earning method, which is move-to-earn. All the user needs to do is buy a sneaker NFT, which will count your moves and reward you accordingly. This is a significant paradigm shift.