A Review of the Development of NFTs: From Celebrity Trading Cards to Metaverse Applications

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NFT Enters the Public Eye: A Review of Its Development History and Future Trends

Since the summer bull market of 2021, NFTs have evolved from a niche area in the crypto market to an important sector that cannot be ignored. As of now, the sales volume of NFTs in 2021 has exceeded 300 times that of the entire year of 2020. NFTs began to gradually enter the public eye in early 2021, and their evolution can be roughly divided into seven stages: star cards/digital art, avatar OG, generative art, GameFi, PFP avatar party, decentralized NFTs, and meta-games. Each stage has representative projects.

By summarizing, several characteristics and trends of NFT development can be concluded:

  • Granted more functionality
  • Pursue innovation and scarcity
  • Gradually becoming mainstream
  • Bottom-up, community-driven
  • The social attributes are getting stronger.
  • Unfair Minting
  • Tending towards homogeneity

Several directions worth paying attention to for future NFTs include:

  • Composable NFT
  • xFi( includes SocialFi, CreateFi, LearnFi, etc. )
  • Pricing mechanism and liquidity solutions
  • Decentralized Identity ( DID )
  • Other innovative forms ( such as POW NFT, interoperable NFT, growth-type NFT, etc. )

NFT is gradually becoming mainstream, with more and more traditional enterprises beginning to embrace NFTs. In the future, NFTs will play a larger role in areas such as gaming and DeFi, and their application in the metaverse is also worth looking forward to. At the same time, how to solve the pricing and liquidity issues of NFTs, as well as the construction of infrastructure such as identity verification, are all important problems that need to be addressed for the future development of NFTs.

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SerumDegenvip
· 08-01 23:24
just another bubble, seen this movie b4... rip to fresh liquidity
Reply0
MissedAirdropAgainvip
· 08-01 16:51
Still rehashing old ideas, it's been 22 years and you're still hyping NFTs?
View OriginalReply0
ConfusedWhalevip
· 07-30 05:23
Join in the fun and grab some blue chips.
View OriginalReply0
PositionPhobiavip
· 07-30 05:22
The bull is working hard, but I can't even afford the floor.
View OriginalReply0
SlowLearnerWangvip
· 07-30 05:17
Wow, I didn't realize GameFi was around this early??? I actually got on board last year...
View OriginalReply0
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