NFTs gained mainstream exposure in 2021. Whilst their popularity has declined since, the technology continues to grow, with major brands continuing to experiment with NFTs and blockchain.
Over the lifespan of NFTs so far, they have gone from a niche technology to a widely-recognised medium for digital asset ownership.
Ultimately, we do not know if NFTs have a long-term future – but we can say that blockchain technology continues to see ongoing investment and development, and the idea of a decentralised future to the internet continues to be widely discussed and advocated.
Gaming, luxury items, infrastructure – each of these industries, and many more besides – continue to investigate the use cases of NFTs and blockchain technology, and the impact they could have on both companies and consumers.
Investments into web3 technology continue; new products, tools and services are continually released; and brands continue to experiment and integrate the technology into their existing products.
From a regulatory standpoints, NFTs and blockchain technology continue to catch attention. Whilst there is a debate on whether this is overall a positive or a negative, regulation has created a more stable, trustworthy and investable industry.
NFTs have had many highs and many lows to date – and we’re sure they’ll continue to do so long into the future.