After experiencing a massive surge in 2021, with approximately 1.5 million NFT art sales, the NFT market faced myriad challenges in the third and fourth quarters of 2022, primarily caused by significant declines in volume at the macro level from the previous year.
On the other hand, 2022 was also a year with some substantial innovations and progress toward the future of Web3. For investors familiar with the digital economy, or those hoping to incorporate NFTs into their portfolio, there are several NFT trends to be aware of as we move into 2023. This blog explores five of them, namely: Artificial Intelligence (AI), NFT Ticketing, NFT Gaming, Fractional NFTs and Music NFTs.
This is by no means a definitive list of trends that will emerge. It's a fun look at some areas that may be attracting market attention in 2023.
Overview of the 5 NFT trends to watch out for in 2023
1. Artificial Intelligence (AI) in NFTs
The intersection of non-fungible tokens (NFTs) and artificial intelligence (AI) is an exciting area to watch in 2023. One potential use case for NFTs and AI is the creation of unique, AI-generated art NFTs and collectibles. Using advanced machine learning algorithms, artists and collectors can create one-of-a-kind digital works encoded on the blockchain as NFTs. This allows the creation of truly unique and scarce digital assets and opens up new possibilities for AI-powered art auctions and NFT marketplaces.
Another potential use case for NFTs and AI is in the area of virtual reality (VR). By combining NFTs with VR technology, users can create and sell unique, immersive experiences backed by the blockchain's security and immutability. This could include everything from virtual reality concerts and events to virtual real estate.
2. NFT Ticketing
The use of non-fungible tokens (NFTs) for ticketing is an exciting possibility for 2023 and beyond. Using NFTs to represent event tickets, organizers can take advantage of the security and immutability of the blockchain to prevent ticket fraud and scalping. NFT tickets can also be easily transferable, allowing fans to easily buy and sell tickets among themselves or on the secondary market.
In addition to the benefits for event organizers and attendees, using NFTs for ticketing could open up new revenue streams for artists and events. For example, NFT tickets could include exclusive perks or experiences, such as meet-and-greets or backstage access, that could be sold at a premium price.
3. NFT Gaming
By using NFTs to represent in-game items, players can own unique, scarce assets that can be bought, sold, and traded on NFT marketplaces such as AirNFTs. This not only adds a new level of scarcity and value to in-game items, but also allows for the creation of a vibrant secondary market for these assets.
4. Fractional NFTs (F-NFT)
Fractional NFTs, also known as fractional ownership NFTs, are non-fungible tokens that represent partial ownership of a real-world or digital asset. They allow multiple parties to jointly own a single asset and share in the rights, benefits, and costs associated with ownership.
Fractional NFTs may become more prevalent and widely accepted as a way to own and trade a wide range of assets fractionally.
Some potential uses for fractional NFTs in 2023 could include the following:
- Fractionally owning and trading real estate, art, or other high-value assets
- Fractionally owning and trading NFT collectibles or other rare items
- Fractionally owning and trading in-game items or virtual assets
New and innovative uses for fractional NFTs will emerge as the technology and market continue to evolve.
5. NFT Music
Another trend to watch is the use of NFTs to represent music ownership. By using NFTs to represent ownership of a particular song or album, artists can create a new way for fans to support their work and create a new revenue stream for themselves. This could disrupt the traditional music industry business model and give artists more control over their music.
AirNFTs is one of the best music NFT marketplaces for musicians entering this world for the first time. The low cost of entry is a critical factor in attracting customers and creators.
How to promote your NFT project in 2023?
Choosing the right NFT marketplace is crucial when deciding how you want to promote your NFT project. AirNFTs is a multi chain NFT marketplace on Binance Smart Chain (BSC), Ethereum (ETH), Polygon (MATIC), and Fantom (FTM). AirNFTs offers industry-leading benefits such as high NFT transaction speed and low gas fees. Additionally, users benefit from a more personalized experience with Defi options (such as staking), a referral program, and greater exposure to custom-made NFTs than copies. We also support our users by promoting their work to give them even more exposure to the NFT community.
Now, check out our NFT marketplace to start your 2023 NFT journey with AirNFTs!