NFTs SECTORS

olaspecial (67)in Tron Fan Club • 2 years ago (edited)

The NFT market is going hard, in the months of this year, the NFT market continues to grow while the crypto market drops. Right now, the NFT market is also falling beyond what we expected. As you know already, the open sea is the world's largest NFT marketplace. They have reported a 75% drop in sales buying, and the average sales for board ape dropped more the half. During the bull market, the average cost of buying NFT was about $1,800 but right now it is about $400. Do you know that guy that bought Jack Dorsey's first tweet for $2.9 million and then tried to resell it one year later and the highest bid was $10,000? Can we say NFT is dead?

Some people NFT use cases as collectibles and it is also the most hated depending on who you ask. Even though some people love collecting these NFTs to sell them in the future but there is no guarantee of a return on investment. Last year, many people are coming up with different NFTs and they get oversaturated because people are coming up with some funny NFTs. Art is collection but collection in the world of NFT are usually created by AI and they always have limited editions. On the other hand, art is designed by a human artist that could different things such as film in form of an NFT, animation, music, and photo.

Kevin Smith's movie was the first movie to be released and funded by the sale of NFTs and he will be releasing his next movie (Killroy Was Here) as an NFT. Even musicians are jumping into the world of NFT. Last month, the top 10 music NFT sales were released sold without the help of any record label. Another sector of the NFT is gaming, it has the highest number of active wallets, and sales continue to do so even in this bear market. Even though the gaming NFT has the highest number of sales doesn't mean it has the most money, collected sales net ten times more than gaming.

Speaking of NFT gaming, axies is the most famous game using NFTs. The characters are axies as they call them, there are the characters players must buy to in other play the blockchain game. I think it just needs to get better in other compete with the traditional gaming world. It will be very interesting if there is a way players could transfer the gaming NFTs to other games or trade them to another. It is also good if these games remain games because we do not want every game to turn into a job.

Another section of NFT is the metaverse NFT, it is just like gaming. The metaverse and gaming NFT are similar but they are not the same thing. A metaverse NFT is just the deed to land in the blockchain world. In your metaverse land, you can build office space and it is where your gaming is done. Land in the
metaverse is not cheap as in the real world. The big question is, does this NFT solve a real problem? If it is solve a problem, then it is a utility NFT.

Some people believe the bubble officially popped for NFT, but I don't think NFT will fade away. If NFT and blockchain technology are wide use by many people, we will see a lot of things such as medical records, driver's licenses, passports, and so on easily accessible with just a mobile phone.

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