This post was most recently updated on March 11th, 2023
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Upcoming NFT Development Trends: What to Expect in 2023 and Beyond
So, to put it simply, 2022 was a rather turbulent year for crypto and NFT development. But after surviving the turbulence and the rapid changes in the Web3 space, NFTs are ready to be significant players in the market once again.
Anticipating NFT trends in 2023, our blockchain and NFT development company want to make our predictions. Use them for exploring the market and seeing a trend at its inception before any of your competitors would.
Business Potential of NFTs
But before we jump into the main trends for NFT, let’s explore the potential of NFT. Here are some crucial factors to consider for understanding the potential of NFTs:
- NFTs are one-of-a-kind digital tokens used for representing unique assets like digital art, music, and virtual real estate.
- NFTs allow authors to keep demand in the digital environment, ensuring the worth and exclusivity of their creations.
- NFTs can grow in popularity very fast and vary in price. Therefore, you should do deep research before making any investment decisions.
What can entrepreneurs and investors gain from the expanding NFT market? Here is where businesses can make money:
- Selling NFT collections
- Developing an NFT marketplace
- Investing in NFT marketplaces
- Creating NFT minting platforms to utilize upcoming NFT minting trends
- Developing new NFT technologies
Now that you have a better understanding of NFTs and what opportunities they present let’s dive into the up-and-coming NFT trends!
Emerging NFT Trends: Exploring NFT Future Opportunities for 2023 and Beyond
Here are some NFT predictions for 2023 made by our OmiSoft team, which has a vast experience in the marketplace and non-fungible token development services.
Artificial intelligence (AI) is transforming technology, especially NFTs. That’s why the first NFT trend we want to talk about is NFT collections based on AI development solutions.
Some artists are already incorporating AI into their work, and there are platforms dedicated to creating 100% AI-generated NFTs. For example, DALL-E 2 generated art has already made it to the headlines. Nonetheless, there may be some opposition to the idea of AI-created collectibles, but if they show to bring some cash, adoption will increase.
Fractional NFTs & Art value
NFTs have evolved into valuable digital assets in the field of modern art. According to Yahoo Finance, Sotheby’s NFT platform alone transacted $100 million in 2021. Some NFTs were even auctioned for more than a million dollars.
Fractioning becomes a tremendous investment opportunity by allowing people to buy valuable NFTs for a fraction of the price. Artists and investors both benefit from fractional NFTs. Because they make it easier for artists to receive money, and the lower price makes it more accessible to a wider range of investors.
The popularity of NFT marketplace development and artist acceptance of fractional NFTs is expected to continue in 2023.
NFTs in gaming
The industry of video games is one of the most developed in terms of scale. That’s why it comes as no surprise that businesses want to earn more from gaming; that’s how the GameFi sector was created. GameFie combines gaming and finance. But how can NFTs be used in gaming?
The reward system in games is not a new thing, but NFTs make a twist on it, rewording users with assets that they can trade later. Such P2E games as Axie Infinity (AXS) or Illuvium (ILV) are already doing it, and there are many upcoming NFT projects in 2023 in the gaming industry that is yet to launch.
These are 3 burning trends of NFT that are very promising. But note these are our predictions and not facts! So #doyourresearch😉
Investing in the Metaverse: What you should know?
Investing in the Metaverse, especially the NFT service, can be an excellent business opportunity. But here are some key factors that you need to keep in mind:
- Understand NFT potential for your industry
- Research your competitors and the market in general
- Consider the business model
- Diversify your NFT portfolio (if you choose the investment route)
- Evaluate the long-term potential
- Be aware of risks and consider them for a particular case
And if you have any questions and want to start to benefit from a particular NFT trend in 2023, don’t hesitate to contact us for a free consultation.
The bottom line
While some trends may appear to be headed in an obvious direction, others are changing the entire Web3 community. That opens a chance to make an NFT trend your personal business opportunity.
Benefit from OmiSoft’s ability to provide customized NFT development solutions tailored to the specific needs of our clients. We strive to stay at the forefront of new technologies and NFT trends and have a steady track record of delivering high-quality NFT products on time and within our clients’ budgets.
So don’t hesitate to start; contact us and see how you can use upcoming NFT trends to your advantage.