The Promising Future of NFTs: How the Market Keeps Evolving Through Turbulent Times
The NFT and broader crypto markets continue to trend down and stagnate. The bull run of the past few years has left crypto, and much of the financial markets, unsure of the future. Sentiments continue to run high in much of the crypto space. Crypto took a jump into the cultural zeitgeist and after such large scale mass adoption, is looking to the future. The market is struggling to gain momentum, dropping to around $1 trillion total market cap after reaching near $3 trillion last year. Yet, compared to early 2020, the market cap of crypto has still tripled in that time period.
Even as huge seismic shifts happen in the crypto market, like the long awaited Ethereum merge, crypto is dealing with the same fate many of the markets are dealing with, shrinking liquidity as the FED combats inflation with aggressive rate hikes. But a struggling crypto economy leaves nowhere for those who lack innovation to survive. As in many financial sectors, the foundations of the future are built by those who can create something that can weather a recession through solid fundamentals.
NFTs Place In Our Crypto Future
NFT are unique, non-fungible tokens that store digital data, and provide clear ownership of both digital and physical assets. If we want our digital future to be decentralized and open to everyone, NFT will be the fundamental building blocks of our virtual spaces. NFT have already had huge impacts on a variety of industries including: gaming, art, and music. Yet NFT as a whole remain one of the most misunderstood pieces of terminology.
Since NFT gained the most popularity through its use in digital artwork, the average person assumes this is their only case use. Nothing could be further from the truth. NFT are not done disrupting a variety of industries, and how the technology will be used could seem foreign to the most common perception the average person has of NFT today including:
- Digital collectibles: The use of NFT to verify digital assets including game assets and collectibles.
- Identity Management: Crucial identity documentation could be put on the blockchain to help prevent identity theft and speed up certain procedures that require identification.
- Supply Chain: The use of NFT could help track goods from production to delivery to ensure quality and help with logistics.
- Physical Assets: NFT can be used to verify real world items such as concert tickets, job contracts, and track collectible items sales history.
The Future is Digital
Due to lack of education in the crypto space and the newness of NFT technology, many still don’t see its place in our digital future. Many people still feel the idea of digital ownership, the metaverse and virtual spaces are far fetched concepts. But when you’re in the middle of one of the biggest technological revolutions in human history, it can be hard to see the forest for the trees.
It’s undeniable that our lives are becoming increasingly digital. From Zoom meetings, the increase of remote work, online schooling, online gaming, social media and dating apps, One can see the way we interact with each other has drastically changed from just a few decades ago. Being online has become an important part of our daily routines, and as more and more money is spent in digital spaces, the concepts of ownership will become increasingly important.
In Web2, we own nothing. Companies can use our data how they like and many online apps and games exploit their monetization systems to take advantage of their customers. NFT provides us with ownership in the digital future. Ownership brings value, and creating fair systems for everyone is a future worth striving for.
Making NFT Accessible To Everyone
Creating healthy and balanced NFT markets in the future means everyone has to have access to them. Even though crypto has become commonly known, many still don’t know much about how to use it, with it still being a market dominated by young men, as the technological aspects of trading NFT and crypto hinders market growth.
Pikasso is an NFT infrastructure platform that is bridging the gap between Web2 and Web3, making NFT accessible to everyone. Pikasso’s ‘No-Code’ platform allows anyone to easily create NFT, and market them to the right audience. Artists need their time to focus on creative inspiration, not the technical logistics of putting thousands of NFT on the blockchain.
Pikasso removes both the technical limitations and time needed to enter the Web3 marketplace. The Pikasso NFT platform allows companies and digital creators without the internal infrastructure to easily enter the Web3 world. The easy to use UX/UI means anyone can easily use Pikasso, from the smallest creators to biggest game companies.
Additionally, NFT collections minted through Pikasso are open to every consumer, as anyone with a credit card can easily buy NFT and begin investing in NFT without the need for cryptocurrency and a crypto wallet.
The Foundations Of the Future
The last few years, money has poured into the crypto market, fuelled by the promise of a decentralized future. This hot market brought both the good, bad, and the ugly. As financial markets continue to struggle, only the most established crypto blockchains and systems will survive. The market is finding where the real value is, and projects need to continually show value and utility to keep interest in an oversaturated space.
Finding the real value through the noise will lay the foundations of the next growth cycle, and prove where the real value lies. To learn more about how Pikasso is changing the way we create and use NFT, visit us here to get started.
About Pikasso
Pikasso is a firebase infrastructure for NFT apps and games, creating an easier way for projects to create NFT, all on low-cost layer-2 ecosystems. Pikasso saves users the time needed by using a no-code platform to create NFT, with an improved UX/UI, and marketplace generator for each NFT project, all while bridging the gap between web2 and web3 content.
