Whether you like the idea of NFTs or not, some of these upcoming trends could change the way we experience the web, brand products, buy and sell art, and even create and experience music. This what is new. And this could also be the beginning of all these essentials.
Here are some of the trends you might have encountered while you’re scrolling social media or something that is just a total boom right now:
1. NFT AVATAR CASTING
NFT avatar is computer-generated digital representations of cartoon or pixelated figures in a “profile photo” format, typically from the shoulders up. Each NFT avatar is one-of-a-kind, with a variety of identifying characteristics (hairstyles, accessories, clothing, etc.).
With fantasy and science fiction themes, avatars can be cartoon characters, humans, or abstract beings. The growth of NFT avatar projects is largely due to organizational investment and private collector capital.
2. COMMUNITY-OWNED BRANDING
The world’s top brands across all industries have adopted NFTs in their branding and social media marketing strategy.
- TacoBell was the first fast-food chain to use NFTs for its marketing strategy. They launched 25 NFTs as a celebration activity when they brought potatoes back on their menu, and surprisingly, all 25 tokens were acquired within 30 minutes of launch. The highest claim for an NFT was USD 3,646.
- In November 2021, the fast-food restaurant chain dived into NFT promotion to celebrate the return of their limited-edition McRib. The world’s largest chain of restaurants has released a certain number of virtual McRib collectables to create engagement in the short-term return of its limited edition. Those who retweeted the McDonald’s collection were eligible to make bids for the NFTs. It was an excellent marketing strategy as around 21,000 people retweeted the invitation within a few hours.
3. TOKENISATION AND GAMING
When we talk about NFT gaming, it means that when you purchase an NFT, you acquire the rights of a unique digital asset that is meant to be used within a game – and even in different digital ecosystems and metaverses. Non-fungibility and utilities make NFTs an exciting investment for gamers – and game producers benefit from novel monetization opportunities.
This means that when NFT gaming was introduced, the adoption felt very natural for those gamers that were already willing to spend money on in-game credit – with the slight difference that the purchases are now recorded on the blockchain. One good example is Grand Theft Auto (GTA): The game’s art director, Aaron Garbut, revealed that the game cost roughly $265 million to develop and market. The need for such budgets is slowing down mainstream NFT gaming proliferation.
4. MUSIC NFTs WILL TAKE OVER
Without any live shows, concerts, and CD sales, musicians resorted to the digital space to look for alternative revenues. The NFT music wave does not come as a surprise, really. The music business has long been embracing technology to keep up with the times.
Renowned artists like Grimes and two-time Grammy-nominated Steve Aoki just bagged around $10 million in NFTs via the digital NFT marketplace Nifty Gateway. These sales set the stage for the seven-figure sales on the platform by other pop artists like The Weeknd and Eminem. Worldwide, famous rock stars Kings of Leon even released an LP called When You See Yourself, as an NFT.
