4 Trends to Expect in NFT and Crypto Markets in 2023
2023 is set to be a big year for crypto largely because of the turmoil that’s going on with global markets. Crypto tends to strive in times of economic uncertainty and when there are major movements with global currencies and commodities. But this is not the only reason to keep an eye on markets this coming year. Things have been brewing in the NFT space as well, and we’re beginning to see more legitimate projects being unfurled, especially in the gaming and art space. Let’s take a look at some of the trends we can expect to see in the crypto and NFT markets in 2023.
Better Play to Earn Games
NFT play-to-earn games are getting better and getting more recognition. Games like Cyber City Game have been making a huge splash this year with their massive world and tons of different earning opportunities. We can expect to see many more companies trying to replicate the success and model of Cyber City with a more elaborate world, collaboration opportunities, and overall better gameplay.
Mining Rigs Will Go Up in Price Again
There is a strong chance that Bitcoin will be making a comeback in 2023, and when the price of Bitcoin goes up, so goes the price of GPUs. This means that now would be the time to start buying GPUs if you are intending to mine.
We still don’t know what’s going to happen with Bitcoin, however. Most observers are banking on the fact that the global situation will push more people to invest in Bitcoin as a haven against inflation, but we still don’t know if there is enough interest for Bitcoin to go much higher than it is now. So, before you start putting your money in the Bitcoin basket, it would be a good idea to wait until we see definite movement in one direction or the other.
The Rise of AI NFTs
AI NFTs are the latest innovation in the world of NFTs, and we should see some of the first big AI NFT projects get released this year. AI can be used to create NFT art, but one of the most interesting uses for AI with NFTs is for the creation of digital characters. AI can make digital characters that could evolve and be sold. These characters could be attached to an ecosystem or not. They could also be used in the metaverse. These are very promising and could offer people the opportunity to make a lot of money depending on how much interest these projects generate.
More Real Use Cases for NFTs
Companies are increasingly using NFTs to streamline their supply chains, and we can expect to see NFTs being used more in fields like the legal industry and manufacturing. NFTs can be extremely beneficial to protect intellectual property, prevent counterfeiting, and manage inventory, among other things.
The NFT and crypto markets should be interesting this year, so if you’ve been thinking of investing in them, you should start doing some research right now. Learn as much as you can about the markets, but be patient and always counter verify information with the community before you do anything.