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Trends Within the Trend

Part of our special research report

State of the NFT Market | Q1 2022

In partnership with CryptoSlam

What major use cases or trends will we see in the NFT space in 2022?

Trend 1: Mass adoption. Currently, we estimate there are around 1 million unique wallets globally that have been used to buy, sell or hold NFTs. We believe this number will rise sharply as more companies and developers create NFTs to engage fans, art lovers and attract other new users. The trend of creating or buying NFT avatars for use as profile pictures will continue to grow as well.

Trend 2: GameFi. Traditional free-to-play developers will jump on the bandwagon of blockchain games, NFTs and play-to-earn by the end of 2022. This game genre will no longer be driven solely by crypto native developers.

Trend 3: Disruption of traditional markets such as music, ticketing and entertainment, etc. We will see new NFT models with the potential to disrupt these industries. One possibility is the emergence of a class of NFTs that allow revenue participation via smart contracts, rewarding every person in the value chain including composers, artists, musicians, producers and collectors/whales.

Trend 4: Dynamic NFTs and the integration of real-world events. NFTs started as static images but have evolved to incorporate different features. In 2022, we will see further integration of real-world information such as weather and stock data into NFTs. Basically, any real-world data can flow into NFTs and cause the NFT to evolve.

Helen Hai
Helen Hai, Head of NFT and fan token Binance

Disruption of traditional markets such as music, ticketing and entertainment, etc. We will see new NFT models with the potential to disrupt these industries.