The new era of NFTs has just began
The last year has been crazy for NFTs as we’ve seen their popularity skyrocket and onboard a lot of new users into crypto. They offered opportunities to artists that were unseen before. But now we see people starting to be way more thoughtful, and that’s a good thing.
We are moving past the first year of this phenomenon when a lot of projects went up and up because of FOMO and newcomers aping in hoping to make a quick buck. The period from February 2021 to February 2022 is what I like to call the great era of collectability. Now we are entering the second phase: the utility era.
More and more, going forward, we will see less interest in projects that only boast a collection without a further purpose. Old projects are already moving towards a 50/50 balance between collectability and utility value.
So if you’ve been thinking about starting your own project, make sure to aim for utility, with a hint of collectability!