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Throughout 2021, a huge portion of news and media cycles surrounded their coverage on the emergence and explosion in popularity of non-fungible tokens, or NFTs. Operating as a new class of digital assets, the concept of NFTs has caused a ripple effect throughout industries and markets the world over. While 2021 may have been the year that saw NFTs gaining traction, 2022 may be the year that they truly take off.
In this article, we’ll cover the top trends to watch regarding NFTs in 2022 with experts Martin Stava (Co-founder, STRV) and Barron Solomon (Founder & CEO, Solo Music). Keep reading to learn more about each of these trends!
A profile picture, or PFP for short, is a type of NFT that has grown immensely in popularity alongside the broader notion of NFTs, themselves. For example, in 2017, CryptoPunks defined an entire category of PFPs through their generative NFT collection that grants users the ability to represent their internet identity with one of their NFTs as an online avatar or PFP.
More recently, social media platform Twitter introduced verified hexagonal avatars as part of their Twitter Blue program. This tells us that this trend is far from over and is bound to continue growing throughout 2022.
NFTs have already showcased their ability to serve as a utility in real life, or “IRL,” beyond the online digital realms of Discord, OpenSea, Twitter, or other platforms. As NFTs act as a token, they can be utilized as a gateway to access certain IRL experiences (i.e. private memberships).
Some examples of top-performing NFT membership groups include Kevin Rose’s PROOF Collective, Gary Vee’s Veefriends, and Adidas Originals’s Into The Metaverse NFT, the latter of which allows NFT holders to redeem physical merchandise in multiple stages and keep the NFT as a gateway to their future metaverse experiences. The Flyfish Club, another NFT membership program instituted by Vaynerchuk, shows how restaurants can leverage NFTs for…
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