Let’s discuss 10 NFT Trends That Will Impact The World From music to Meta, these must-know NFT trends cover it all.
Why should you be aware of NFT trends? Whether you like the concept of NFTs or not, some of these upcoming trends have the potential to change the way we interact with the web, brand products, buy and sell art, and even create and experience music. And, according to Jace Kay of the Bored Ape Yacht Club, 2022 appears to be the year when the promise of Web 3.0 and NFTs will truly take off.
If this sounds complicated and you still don’t understand what NFTs are (you’re not alone! ), check out our what are NFTs explainer as well as our guide to making and selling an NFT. You can also learn how International Women’s Day and World of Women revealed how NFTs are changing the face of equality in art.
But believe us when we say that Kay knows what he’s talking about when it comes to NFTs. He is not only a member of one of the most successful NFT groups, BAYC(opens in new tab), but he also co-founded social music streaming app Stationhead(opens in new tab) with Ryan Star and is the creator of the famous Facebook Lemon AR filter.
Still not convinced that NFTs are worthwhile? Bored Ape Kay provides a good example: “I bought my first Apple computer in 1996 for around $3,200. […] But if I had simply purchased Apple stock, I would not have had to work a single day of my life. When you buy the ‘computer’ in the new world [of NFTs], you own a piece of the brand. So even if it blows up, you can still get a piece of it.”
10 NFT Trends That Will Impact The World In 2022:
Casting Of NFT Avatars
The benefit of NFTs over traditional IP creation is that you can own a piece of a larger brand and profit from it. NFTs like Bored Ape Yacht Club and StereoheadZ allow users to mint their own art for the group, bringing a new sense of creativity to an artist, animator, and musician community.
The personality Avatars for Jace Kay’s NFTs band were sourced from the community, and payments were returned to those artists. It helped that a previously unknown rock star was a member of the StereoheadZ Music Club.
Expect more of this “Avatar Casting,” as Kay refers to it, to take off in 2022. He and the BAYC are working on a number of projects, and members can put up their Bored Apes or StereoheadZ for use and receive a cut of the profits. This relates to another NFT trend for 2022…
Branding Created By The Community
Giving a community IP control to “take and spin into new directions that the parent brand would never have done in the past adds value,” according to Kay. The use of a blockchain and NFT provides primary and secondary resell rights, ensuring that an artist is always compensated for future use of their work. Losing control of an IP allows for growth and creativity, and artists are compensated for their contributions and work at every stage.
“Take, for example, Bored Ape Yacht Club,” says Kay, “it was nothing before May  and now it’s one of the biggest brands in the world, almost, and it’s partnered with Adidas and others.”
Will Disney and other large corporations share their intellectual property with NFT communities? Although it is unlikely, this approach to community-led marking and branding will find a home in large corporations that will turn to NFT communities and groups to promote new products. If you make a Bored Ape and make it available for avatar casting, your work could be featured in a Coke commercial next Christmas.
Ethereum 2.0 Will Address Its Energy Issue
The huge carbon footprint generated by NFTs is the bored elephant in the room. A single transaction on the Ethereum blockchain consumes the same amount of energy as a typical household over the course of a day and a half. According to Kay, Ethereum is “burning energy, like driving a car with your foot on the gas and the brakes on.” “That does not have to be the case. And things are changing. Ethereum 2.0 will be released gradually next year, and it will make a significant difference.”
Kay describes how Ethereum’s current “pipe” is insufficient for the large number of people who want to use it, forcing you to pay higher fees to pass through.” Ethereum 2.0 will widen that pipeline, lowering costs. Ethereum 2 will reduce fees, increase output, and increase the value of NFTs created on the blockchain.
Gaming And Tokenization
This is significant. Next year, NFTs will evolve from their use to promote art to being about utility – whether that’s gaming or access to rare communities (tied to avatar casting and marketing for Web 3.0. This is already happening in video games, with AAA publishers like Ubisoft investing in a blockchain to allow players to purchase and unlock items that now have actual value. Another ‘play-to-earn’ adopter is Axie Infinity, which is now valued at “$6 billion,” and players can earn $15 per hour from NFT rewards.
Kay states: “Many NFT projects are attempting to tokenize, which makes it appear as if you are getting more value from it. These tokens can also be traded on the secondary market. If you do it right, it has a lot of power.”
Apple Is The Starting Point For The Metaverse
The metaverse (see our explanation of what the metaverse is) will truly begin in 2022, and NFTs will be at the heart of this immersive technology. The benefits of blockchain, cryptocurrencies, and NFTs will be served directly within the metaverse, instantly removing the voodoo barriers to entry. However, Kay believes that it all starts with Apple and its seamless approach to UX and UI.
“The key point is that it will be Apple and their proper device that pushes everything to the next level, much like they did with the App Store,” Kay says. The catch could be the rumored price of the Apple VR headset, which is expected to cost around $3000 for high-end AR/VR technology. Could this be the point at which Meta/Facebook and Oculus take the lead in VR headsets? Kay, on the other hand, is skeptical of the social media behemoth.
“They’re not only behind the curve but also on the wrong side of it. They’re going to wreck the metaverse. Meta is a surefire recipe for disaster “According to Kay, there will not be a single metaverse, but rather a decentralized mix of apps, events, spaces, and platforms. “Facebook will always try to make it their metaverse, and you can sell your NFTs in it, but it will be centralized,” he adds.
Web 3.0 Is About To Take Off
“NFTs are built for Web 3,” Kay says. While earlier iterations of the web are geared to reading (seeing data) and reading and writing (social media and experiences), Web 3.0 is about “having ownership and getting rewards”, in worlds and games such as Decentraland and Fortnite. The evolution of the internet and NFTs go hand in hand, and it will really take off in 2022.
NFTs In Music Will Take Over
Music and NFTs will be big in 2022, as will Napster. Kay has formed a virtual band with fellow Bored Apes called The NFTs, and there will be more to come. However, NFTs will be more widely used in the music industry. Jack Dorsey resigned as Twitter CEO to run Block (formerly Square(opens in new tab)), with the goal of convincing streaming services like Tidal to adopt music NFTs.
Stationed, live music and the broadcast platform is Kay’s other project, in addition to the StereoheadZ NFT – a decentralized music label and community. Station head allows you to legally broadcast live shows as well as stream music from Apple Music and Spotify.
Platforms like Stationhead will exist in and across the metaverse, allowing listeners to chat or release their own music. Blockchain-based NFTs will reward fans who follow a band or track royalties for musicians.
Kay’s group Fans who support the band via the StereoheadZ Music Club NFT earn rewards and can even be cast to help develop the band – Kay says the animators for a future music video will be sourced from the SZMC.
Experiences In The Real World
“Another thing that’s starting to happen, but it’s kind of fun and is tied into the kind of utility you get,” Kay says. If you contribute to an NFT project, you are investing in a community, and one of the benefits will be regular events for holders.
The Bored Ape Yacht Club NFT holders have already begun, with a 2021 New York City party that saw 2,000 BAYC NFT holders gather in a secret warehouse location to watch Beck, Chris Rock, and a specially reformed Strokes take the stage. “These IRL [in real life] experiences will undoubtedly be huge, huge.”
Digital Identification And Ownership
Currently, we talk about NFTs giving artists and creators ownership of digital content, but in the future, everything will have an NFT, according to Kay. “Right now, we’re talking about art and music, but we’re also starting to talk about seeds and food […] everything you buy will have a digital footprint that tells you who owns what,” Kay says.
Consider this: if Adele buys a sweater and then sells it, you’ll know it was Adele’s sweater, and its value will rise. “Physical items and experiences are starting to get digital tags. It provides many more opportunities to create interesting things with transparency.”
Personality NFTs Are On The Rise
“I think we’ll start seeing more of these NFT personalities this year ,” says Kay. Apps that allow artists to perform as an NFT personality rather than themselves will be available. Kay is aware of one Snapchat app in development that allows users to completely remove themselves from the app and be replaced by a Bored Ape. “It appears to be real,” he says. “It’s pretty incredible.”
In 2022, expect to see musicians and celebrities adopt NFT personalities. It’s already happening: Teflon Sega, a musician, only exists in the Metaverse as a performer, but expect more well-known stars to embrace the anonymity of performing for a small group of fans under a digital persona. This began with Gorillaz and will be taken to the next level in 2022.
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