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The Future
What might the future of NFTs hold? From a commercial perspective, NFTs are gaining momentum as digital-first memorabilia. With platforms like NBA Top Shot, fans can collect and display their favorite game “moments.”
In the future, there is likely to be a huge range of new cases. The ability to track and leverage a digital asset in multiple environments could mean exciting new opportunities in ticketing, gaming, music, art, and beyond.
Imagine discovering a new musician online. You purchase an NFT of their album art, which can simultaneously serve as a piece of art that you can display online, an entry into an exclusive chat group where you get to connect with other superfans, and a backstage pass for an upcoming show. Ownership of the NFT could also unlock exclusive memorabilia, whether “air dropped” into the owner’s wallet or rewarded after certain behavior, like making a purchase at a specific store.
The artist and their fans can now connect directly with each other and build a powerful community that create new experiences for both.
NFTs are rapidly gaining traction and we expect continued growth. For example, there has already been $1B in payment volume in August alone up from less than $100M in all of 2020.
Will NFTs go mainstream? Only time will tell. What is certain is that curiosity, an open mind, and active experimentation are the best approach when new technologies and use cases come on the scene.
It’s exciting to be working in this field at this exact moment in time.
Last modified 9mo ago