In the year 2022, the non-fungible token (NFT) market has gone through a difficult period, however this year its popularity is expected to increase exponentially. Due to the need for more and more companies to look for new ways to reward and retain customers, many of them will start using NFTs. These NFT Development Company can serve to provide immersive experiences in the metaverse or various other things. Market giants like META(Facebook) and Reddit were some of the companies that started in this market in 2022. Thus, in 2023 they promise much more innovation and an increasing use of technology. In addition, investors believe that a new type of web-based virtual interaction technology will be launched in 20233.
This will further accelerate business competition and marketing efforts around the world. However, the collapse of the FTX cryptocurrency exchange caused NFT sales to plummet to a 16-month low. So it will be necessary to wait for the volumes to come back until the NFT revolution really hits the mainstream. Despite this, the digital collectibles market should do well this year as more countries develop their own rules to give investors an extra layer of security. One example is the recent launch of the game company Atari, which allowed users to purchase NFT tokens to win exclusive items within their games. These and other initiatives will undoubtedly give the NFT market a huge boost this year.
Trends for 2023
By 2023, instead of simply serving as a mere speculation engine, NFT Development service will become a major gateway to integrated loyalty, benefits and discount programs. This new form of non-fungible token already has a name: “token-gating”. Investment in NFTs will stop being mere speculation to become a true marketing and integration tool between brands, artists and fans. By acquiring the token, the user will have access to a series of exclusive experiences, benefits and discounts offered by brands, fostering consumer loyalty. This new form of tokenization can be an important tool for companies that want to increase their customer base.