Start to Develop an Non-Fungible Token and Capture the Metaverse in 2022

There is one word that unites artists, brands, investors, and celebrities. It is none other than the metaverse. In recent times, almost everyone in the world is launching and selling their collectibles on multiple marketplaces. Are you an entrepreneur aiming to modernize the creator economy? Create a Non-Fungible Token Development Platform now. 

The trends to watch out for in the metaverse in 2022 

Avatar-based collectibles - Importantly, creativity and abundant monetization opportunities are the reasons why trading volume on NFT marketplaces is growing. Likewise, digital avatars mixed representing punks, human beings with attractive fashion accessories, and fantasy elements will help in attracting buyers easily. You can also allow artists to distinguish their rare creations by background, clothes, accessories, appearance, and gender. 

Tokenization of assets - Initially, the NFT craze started with the record-breaking sale of Beeple’s 5000 images on the Nifty Gateway platform in March 2021. However, almost all industries like education, fashion, healthcare, real estate, sports, software, music,  are monetizing content easily. 

Moreover, 2022 will see the gap between the physical and the virtual worlds coincide. This is because more marketplaces will sell real-world assets as collectibles. For example, national and international brands will sell sneakers, watches, fashion goods, jewellery, graphic cards, cars, property, and sports memorabilia as crypto collectibles.  

How is authenticity ensured? An expert team will inspect the luxury goods listed for sale, take photos, and classify them into different levels of rarity (excellent, good, and poor). Subsequently, a condition report is prepared and the files are backed up in decentralized storage systems. 

Songs as NFTs - Big giants like Spotify and Soundcloud are getting a big competitor now. Renowned rappers, singers, and music composers are monetizing their content easily on blockchain-powered marketplaces. For instance, the acclaimed platforms include Royal and Blockparty. Music lovers will receive real-time updates about upcoming drops (new singles and albums). 

Both legendary composers and aspiring artists can sell off their music by using digital tokens. Collectors can purchase songs and merchandise by using software wallets like MetaMask. Eventually, the virtual assets represent a percentage of royalties from streaming, a license for non-commercial use of the rare art form, and access to events, live concerts, and performances. 

Cross-chain compatibility - Importantly, you can capture the target audience by offering a comfortable user experience. For instance, many NFT marketplaces like OpenSea and Rarible are compatible across different chains.

For instance, the New York-based OpenSea works seamlessly on both the Ethereum and the Polygon sidechain. This offers several benefits like interoperability, low gas fees, scalability, instant processing of transactions, and access to several Decentralized Applications (DApps). You can also collaborate with an ERC-721 token development company for enabling artists to create, mint, list, and sell crypto collectibles quickly. 

Rarible has gone one step further as users across 3 blockchains, Ethereum, Flow, and Tezos can trade collectibles easily. Besides that, the Rarible Protocol aims at establishing a powerful Decentralized Autonomous Organization (DAO). 

Thus, users receive governance rights and can vote on different proposals that impact the development of the NFT marketplace. Moreover, the Moscow-origin NFT marketplace aims to create an open-source indexer API. Importantly, it will support smart contracts of other blockchains like Polkadot and Binance in the future. 

Lazy Minting - Unquestionably, gas fees continue to skyrocket when there is a high demand from creators and investors. However, lazy minting will change that. Artists can effortlessly mint collectibles without paying any transaction fees. Hence, anyone across the mainstream economy can monetize content. They can choose options like artwork, photography, tweets, videos, memes, and games. Subsequently, creators can sell off their collectibles by organizing timed auctions and fixed-price sales.  In the long run, marketplaces that enable this 

Healthcare NFTs - Sounds quite different right? While wearables, diagnostics, sensors, hospital management software, and online consultations are the rage now. In the coming years, patients will have control over their data. They can transfer their information as Non-Fungible Tokens to doctors, physicians, and physiotherapists. 

Eventually, information related to their physique, habits, diseases, and symptoms is stored securely. It offers several advantages like protection against counterfeit medication, misuse of data by hospitals and clinics, and wrong diagnosis of injuries and diseases. 

Entry of big tech companies into the metaverse - As the debate about centralization vs decentralization grows, tech giants will change how the creator economy functions. The likes of Facebook, Twitter, Apple, Google, and Microsoft have a large user base and have dominated the market for a long time. In the long run, the metaverse will encompass next-gen technologies like Augmented Reality (AR), Virtual Reality (VR), and the Internet of Things (IoT). 

Moreover, features like profile pictures as images, integrated wallets, exclusive content creator programs, and the development of digital showrooms will go a long way to help artists monetize their content. 

Fundraising campaigns for politicians - Ministers and contesting candidates can raise funds easily through Non-Fungible Tokens (NFTs). For example, photos and memes of manifestos, caricatures of politicians, and videos of campaigns can also be sold as crypto collectibles. Thus, supporters of aspiring politicians will contribute money by purchasing this rare content. Eventually, this will help them in capturing the target audience, getting a strong momentum against their opposition candidate, and coming out victorious in the election. 

NFTs for Breweries - Beer, Champagne, and Wine can also be sold as Non-Fungible Tokens (NFTs) now. For instance, wholesalers and retailers of alcoholic and non-alcoholic drinks are selling limited-edition barrels as crypto collectibles. Boozers can purchase these by making payments in cryptocurrencies and digital tokens. Moreover, the future of the hospitality industry will see trends like redeemable bottles, passes and tickets for VIPs and VVIPs to see the launch of new drinks in star hotels and restaurants. 

Play-to-Earn (P2E) gaming - Gamers can earn rewards in digital currencies for exhibiting their skills and participating in numerous tournaments. For instance, they can select 2 modes, Player vs Player (PVP) and Player vs Environment (PVE) They can also purchase cars, costumes, properties, weapons, skins, and powerful characters as NFTs when they move from one level to another. 

Wrapping Up

Do you want to be the pioneer in this new revolution? Collaborate with a white-label solution provider for creating a Non-Fungible token development platform now.