Industries adopting NFTs
It was Beeple’s sale of 5000 art images for $69 million on Christie’s, an online auction platform that spurred this new revolution.Today, there are many NFT minting platforms around the world. The popular ones include Bored ape Yacht club, Veefriends, CryptoPunks, NBA Top Shot, Veefriends 2, etc.Importantly, many industries are adopting NFTs now. It includes artwork, entertainment, fashion, hospitality, music, sports, real estate, e-commerce, software etc.Overall, as per NonFungible, a data tracking portal, around 35.03 million collectibles sold for $20.83 billion. Interestingly, the number of secondary sales (17.61 million) have surpassed the primary sales of 17.42 million.As web 3.0 takes centre stage, the metaverse will witness several trends like tokenisation of physical and virtual assets, the integration of deep technologies like Artificial Intelligence (AI) and Machine Learning (ML), Augmented Reality (AR) and Virtual Reality (VR), low gas fees due to the emergence of sidechains like Polygon, and personalised digital avatars.
