Top NFT Trends To follow In 2023
By Ruchi Sharma
Following a massive surge in 2021, with approximately 1.5 million NFT art sales, the NFT market faced numerous challenges in the third and fourth quarters of 2022, primarily due to significant volume declines at the macro level from the previous year.
However, 2022 was also a year with significant innovations and progress towards the future of Web3. There are several NFT trends to be aware of as we move into 2023 for investors familiar with the digital economy or those hoping to incorporate NFTs into their portfolio. Let’s take a look at some of the markets that may be attracting attention in 2023.
Artificial intelligence (AI) in NFTs
In 2023, keep an eye on the intersection of non-fungible tokens (NFTs) and artificial intelligence (AI). One possible application for NFTs and AI is the creation of one-of-a-kind, AI-generated art NFTs and collectibles. Artists and collectors can create one-of-a-kind digital works encoded on the blockchain as NFTs using advanced machine learning algorithms. This enables the creation of truly one-of-a-kind and scarce digital assets, as well as new opportunities for AI-powered art auctions and NFT marketplaces.
Another potential application for NFTs and AI is in virtual reality (VR). Users can create and sell unique, immersive experiences backed by the blockchain’s security and immutability by combining NFTs and VR technology. Everything from virtual reality concerts and events to virtual real estate could be included.
NFT ticketing
Non-fungible tokens (NFTs) for ticketing are an exciting prospect for 2023 and beyond. Using NFTs to represent event tickets, organisers can benefit from the blockchain’s security and immutability to prevent ticket fraud and scalping. NFT tickets are also easily transferable, allowing fans to buy and sell them amongst themselves or on the secondary market.
Using NFTs for ticketing could open up new revenue streams for artists and events, in addition to the benefits for event organisers and attendees.
These are just a few of the NFT trends that will be popular in 2023. Keep following this space for information on more such trends.
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