After the first year of heat, what will NFT bring to 2022?

According to the statistics of coinmarketcap, the total market value of NFT has reached 34.741 billion US dollars, and the 24-hour NFT trading volume is 4.099 billion US dollars.

Since NFT appeared in the public in 2021, its two inseparable and unique characteristics have given it a natural advantage in the ownership of intangible assets represented by game skins and digital collectibles.

Last year, digital artist Beeple's "Everydays: The First5000 Days" started at $100 at Christie's and finally sold for $69.34 million, setting a new record for the highest price for a digital art auction. The auction has given NFTs a lot of attention and the market has become very popular.

With the gradual convergence of technological innovations, many people have aimed at the commercial potential of the virtual digital world and accelerated commercial investment and application exploration. Relying on blockchain technology, non-fungible tokens have become a bridge between reality and the virtual digital world, and gradually extended to various fields. Various examples of using NFT are also emerging.

Although NFTs used to shine in 2021, today, it is undeniable that there are still many problems to be solved in the production, trading, supervision and other stages of NFTs.

There are still loopholes in the issue of NFT product ownership confirmation. Although blockchain technology can trace the source of digital content that has been on the chain to ensure its authenticity and ownership. However, due to loopholes in the confirmation of asset rights before being cast into NFT, the possibility of others copying, cropping, and secondary editing cannot be ruled out.

This has to make people think, after the first year's fever is over, what can NFT bring us?

One year after the first year of NFT, both the transaction volume, user scale, and ecological application of NFT have undergone qualitative changes. We believes that in the fields of music, collections, and virtual worlds, the vitality of NFTs is still maintained.

With the entry of visual artists and stars into the digital art collection (NFT) market, coupled with the arrival of the GameFi boom in the second half of 2021, we have witnessed one heavyweight NFT project. The music digital collection market is also continuing to develop. According to the data of Footprint Analytics, the current music NFT market share accounts for 0.11% of the NFT market, and it still has a very broad imagination space.

At present, releasing music NFTs has become a trend in the music industry. From ownership to copyright, from player collection to player investment, from entity to finance, the production relationship in the music industry has a new composition.

In addition, in the virtual world metaverse, NFT also has natural advantages. In the process of virtualizing and digitizing the real world, the uniqueness and irreplaceability of NFT make it a good choice. Contribute to digital identities and digital assets in the universe. Users can purchase virtual world products marked with NFT through real-world currency, thereby protecting their property rights in the virtual world-due to the reproducibility of the virtual world, it is difficult to protect the property rights of digital products by general means.