Will NFTs survive 2022?

Talking about NFTs is necessary given the boom that 2021 left among digital societies. Exclusive games, art and designs are just some of the elements that represent non-fungible tokens.

Exclusivity has been and will always be one of the great interests of all people. And, these codes created within the blockchain, are gaining popularity; thus assigning them a high level of interest.

After being known by games like Axie Infinity or by digital artists like Beeple, these tokens gained revenue and do not intend to decline.

However, the year 2022 begins with many winds of change in the way of looking at digital commerce and the use of cryptocurrencies. Based on this, it is necessary to analyze how far these suggestive digital resources can go.

What defines NFTs?

It is imperative to establish some relevant points in order to understand the scope that these tokens can have. The code of these digital properties is housed in the “blockchain”, thus allowing their owners to be traced.

Just as the works of art, which have a story of those who have bought them, these have an indelible record that increases the value.

Imagine being able to have, for example, a work of art that once belonged to your favorite artist or an exclusive object from your favorite brand.

The added value of these digital objects is basically given by what they can tell.

Second, no NFTs have a divisible value, that is, they cannot be sold in parts. This means that they will always have a single owner. Based on this, the price assigned to them begins to grow when others are concerned to have it.

It should be noted that, in a nutshell, NFT stands for a “non-fungible token”. It means that it is a crypto asset whose price is unique, non-divisible and original in every way. There is no NFT equal to another and hence it is synonymous with exclusivity or rarity.

Why do they generate so much interest for this year?

2022 brings with it a series of technological events among which NFTs carry a certain degree of importance.

An excellent example of this is the metaverse. A future virtual world with quite unlimited possibilities and where NFTs could be exclusive goods. Additionally, various industries have begun to make their way with these elements, such as film, music and graphic design.

Immediate impact on society

It should be noted that we are in the presence of a mechanism that can become an indelible signature. In the long run, it can allow each person to create unique assets of great value.

Brands like Gucci and Nike already have some copies that use this technology to offer unrepeatable experiences.

Seen from another angle, the codes of these elements can accommodate certain aspects such as the derivation of royalties or automatic donations.

This has generated a lot of curiosity for Non-Governmental Organizations that receive works as donations and that could sell under this criteria.

For their part, Smart Contracts are the basis of this revolution and like any contract they are unbreakable, so they ensure the veracity of the product. There is talk that this is just beginning and that there is still much to explore within the universe of non-fungible tokens.

So what does the future hold for these tokens?

Briefly, NFTs have gained ground in digital commerce thanks to the fact that they can be exchanged for cryptocurrencies, especially Ethereum. The code of the latter hosts hundreds of tokens of this archetype that are already in circulation today.

Therefore, if cryptocurrencies continue to colonize the world economy, any NFT will be able to continue its growth.

Likewise, it is expected that, within a short time, the crowd will begin to believe in these resources and, therefore, the demand will increase. In turn, this translates into more buyers, higher prices and, above all, more scope for content creators.

Without leaving aside the possibility of interest in certain pieces, increase and the profitability of the same is incalculable. However, they will have to overcome the power of speculation and the influence of national governments.

They are the political entities that do not see these financial practices favorably, encouraging the ups and downs that are tangible today.

Will non-fungible tokens be the new exclusivity?

The short answer to this question is yes, NFTs will rule the roost of exclusivity for years to come.

More and more brands, companies, artists and other content creators join this trend. Unquestionably, it improves the quality and quantity of available products. If you are interested in buying something or offering your products as NFTs, go for it, surely you won't regret it.