What happened to NFT in 2022 and why it might not be bad for the technology
The NFT market is still at an early stage of development and is subject to high volatility. Explosive growth is followed by periods of decline.
The actual binding of NFTs to cryptocurrencies in terms of technology and audience determines the current dependence of asset behavior. The collapse of cryptocurrencies led to the fall of the NFT segment. However, this is not the only reason. The market itself was "bloated". The saturation and maturation of the market leads to a decrease in hype demand and the transformation of technology into a tool. The expectation of the introduction of regulation of the NFT market further reduces the interest of speculators in the asset
Forecasts and prospects
It is difficult to predict specific scenarios for the development of the market, but it is likely to continue to grow. More professionals and official organizations will enter the market. As the market matures, we will see more professionalization and regulation. The technology behind NFTs is still relatively new, which means we will see more innovation and experimentation in this area.
The focus will shift from tokens that do not provide any value, such as digital avatars, to innovative use cases for non-fungible tokens - in games, royalties and proof of ownership of real assets, in the field of state and municipal services. NFT tokens are increasingly of collectible interest.
NFTs are no longer perceived as an investment and are becoming a technology
What the numbers say
To what extent does the news flow about the fall in the value of tokens reflect the real situation in the industry? What happens to financial flows? What are the expectations of venture investors? Real numbers can complicate the picture of what is happening:
NFT gaming projects raised $1.77 billion in 2022 vs. $573 million a year earlier
NFT marketplaces raised $1.1 billion in 2022 vs. $294 million a year earlier
How much can an NFT marketplace earn?
Calculate the profitability of a hypothetical NFT marketplace
Server and infrastructure costs
Legal and compliance costs
Total monthly income
Total monthly expenses
Total monthly profit
It is worth noting that this is a simplified example, and in the real world there are many other factors that can affect the profitability of a project, such as current competition, market conditions, and the regulatory environment.
In addition, the profitability of the NFT market can vary significantly depending on the specific business model
Why our solution suits you
To deploy an NFT marketplace, we use our own ready-made solution. This is a fairly flexible technology that can be customized to suit your requirements
Launch in 4 months
Unique design and customization
Web + mobile apps
Scalability when trading volume changes
Technical support after development
Features of our NFT marketplace solution
By launching your own marketplace on our solution, you control the result from the design and layout of the platform to functions and tools. This allows you to create a unique solution and distinguish the exchange from competitors. Serve specific user groups to help attract and retain customers
Working with users
Metamask, WalletConnect, etc.
— Purchase history — Linked Wallet — Shopping list — List of sales — NFT listing on external platforms
Working with assets
Issue of tokens
Issuing NFTs in one of the blockchain networks
— Sale of NFTs at a fixed price or auction — Withdrawal from sale before the end of the auction — Change in the cost of NFT offered for sale — NFT filtering