NFTs are here to stay and these 10 reasons are more than enough to understand why they will be all the rage in 2023.
The best of all? These are not the only reasons why we believe that they will be on everyone’s lips in 2023, although they are the most interesting for a general public.
The level of adoption of this technology is increasing and it is the pillar of the future Web 3.0.
NFTs started as a joke, yes, a joke. However, with the passage of time they have become an important column for the crypto industry. What once started as basically nonsense is now Web3 anchoring technology. Little by little we are advancing and we do not doubt that you are 10 reasons will make the NFTs are of fashion in 2023.
10 reasons why NFTs are going to be all the rage in 2023
decentralized technology
This means that they can be owned by anyone and can be accessed from wherever we are. We can even exchange them very easily.
An entrance to the metaverse
Little by little we are reading more news from companies that are betting everything on the metaverse, it is the future, whether we like it or not. All metaverse assets are non-fungible tokens and can be traded. Little by little, as the metaverse grows, NFTs are going to find better use and demand.
Another way of investment
Investing in an NFT is a great way to invest for those who do not want to invest in traditional financial instruments. Obviously, the more unique and exclusive the asset we own, the greater the value it will have. Here it is essential to do it well and it is not always possible.
NFT creators make money
It is an ideal opportunity for those creators and designers to earn money in a constant and solid way. It is also possible to earn royalties in perpetuity every time our works are sold to other buyers.
Any asset can be represented as NFT
Thanks to NFTs, any asset is represented digitally and in a unique way. Real estate, fashion, art, music, movies, etc. Everything is possible to represent it in the chain of blocks and transfer it between users.
Allow Fractional Ownership
Some NFTs are too expensive to purchase. Luckily, there is the possibility of acquiring fractional non-fungible tokens. Some NFTs can be divided into multiple factions and owned separately as pieces of a whole. They are managed by smart contracts. This gives multiple investors the opportunity to own a piece of a single NFT. This is something very interesting because it can be used in art, even in real estate.
new millionaires
Various NFTs, such as the bored ape, have turned their buyers into millionaires. When these NFTs were released they were selling for less than a few hundred dollars. Over time, the cheapest non-fungible token in this collection goes for a few hundred thousand dollars.
Enthusiasts and techies can’t let it go
C-level executives from legacy tech institutions are getting into blockchain and NFT technology all the time. The massive influx of quality talent is going to result in tremendous product development for the blockchain.
Even governments are into NFTs
Japan and the United Arab Emirates are leading the way in this. They have been able to recognize, adopt and take advantage of NFTs and Web3 for their activities. Therefore, we will surely see more adoption by 2023.
Representation of a single property
Considering that NFTs are anchored in Blockchain technology and are not fungible, owning one means that it is one of a kind and cannot be duplicated. This is one of the features that allows it to be used in different cases in various industries.
Best of all, these are just a few reasons why we’re pretty sure NFTs aren’t going anywhere. Its popularity will increase considerably and little by little, as the industry matures, we will find more adoption around the world.