NFTs’ astronomic rise was the culmination of the initial innovation in 2017, the steadily established infrastructure of exchanges & wallets, and macro tailwinds.
It’s the last bucket of macro tailwinds that ultimately led me to become super bullish on the future of NFTs.
I firmly believe two trends will shape the world in the next 10–15 years:
- The Metaverse, and its proliferation on all aspects of society
- Web3 and the democratization of the Internet
And the arrival of both trends will firmly rely on the technology of NFTs in order to be successful.
As digital artists onboard blockchain technologies in order to sell NFTs, we can expect to see a major shift in the video gaming industry as well.
Just four years ago, Jamie Dimon, the head of one of the world’s largest banks, JP Morgan, called bitcoin (BTC) a fraud. In the current year, JP Morgan’s top executives call for involvement in cryptocurrencies.
At the same time, their financial analysts project bitcoin to rise above $100,000 and supplant gold as a real asset hedging against inflation. Needless to say, the past year has been tremendous for bitcoin.
NFTs have captured the world’s attention by disrupting the art industry. But there are several other sectors NFTs are primed to change.
- NFTs have transformed the art industry, but other industries could benefit from the technology too.
- Music and gaming are actively exploring using NFTs.
- But other things are beginning to be tokenized too.