Reports & Analysis

Digital pets, games and virtual worlds; 2021, the year of the NFTs!


Digital currencies are money, or at least their purpose is to be money. This means that digital currencies must not only act as a store of value, an exchange intermediary and a unit of calculation, but must also be exchangeable. This means (if the situation is normal) the value of one bitcoin is equal to another bitcoin, just as a thousand toman banknote is not different in value from another thousand toman banknote.

But NFTs are an exception to the latter rule. These tokens have been in good standing for years, but over the past year or so, tokens for unique artwork, collectibles, and virtual games have grown in popularity.

If you still do not know about NFTs, first read the article “What is an Unparalleled Token”.

Expert statistics show that the NFT sector is likely to see significant growth this year as demand for unique digital goods increases. But it is also possible that this sector will intersect with decentralized finance (DIFA) and other areas to create new products and services. Then, help an essay From cryptonews, let’s take a look at the NFT field; The area is expected to flourish in 2021.

The NFT segment is small but growing

The NonFungible.com website provides a variety of data and statistics to provide an overview of the state of the NFT industry, including the volume of transactions in this sector and its growth rate. In the week ending January 29, the volume of sales of unique tokens was $ 6 million.

Although this is only 0.003% of the daily volume of the total digital currency market, it has grown significantly over the past months and years.

For example, until November, the average weekly volume was about $ 1 million. The NonFungible report in 2019, however, indicated that the monthly volume had been consistently below this amount for most of the year, even falling below $ 400,000 in September of that year.

According to Simon Seojoon Kim, CEO and owner of the blockchain company Hashed in South Korea, the market for unique tokens has grown exponentially so far. In his view, this growth is highly dependent on individual content and strong intellectual property; Unlike Defy, which grew normally. He said:

While we expect NFTs to have a variety of uses in card games, it is still very difficult to predict the growth rate of the NFT market. No criteria can be used as a comprehensive index.

Subcategories of proverbial tokens

Although NFTs are somewhat marginal, this sector is undoubtedly expanding. According to John Crain, founder of the SuperRare digital workstation, the drivers of this expansion are a number of specific areas in the subcategory of non-unique tokens.

“Crane said in an interview:

Digital Art, Virtual Fields and Defy NFTs will all have explosive growth in 2021. Digital art is at the forefront and will be at the forefront of this segment in terms of scope.

The unique tokens industry is preparing for great growth;  Entry of NFTs in the field of defense and equity

According to Crane, NFTs provide a way for us to collect virtual collectibles like physical goods. In this way, they seal the uniqueness and uniqueness of digital items.

For the first time, we have a simple technical standard that creates digital scarcity for digital valuables. Humans have been collecting valuables for thousands of years, and now a tool is available that does the same thing digitally.

Although Crane is optimistic about the future of digital valuables, analysts and other industry experts agree with his predictions.

Fredrik Haga, co-founder and CEO of Dune Analytics, said:

I think the importance of crypto art is increasing because artists see that they can make a small income with digital art.

He added that the gaming world is another area in which NFTs will grow in 2021. Axie Infinity, the industry’s largest product based on Ethereum, grossed a total of $ 8.1 billion. In this game, users fight unique creatures, each of which is a token.

Aave marketing director Aisa Kulligan is another admirer of Axie Infinity and NFT games in general.

“In an interview,” he said in an interview.

Axi Infinity is a great example of a game that gamify the crypto space. You play and acquire these Ethereum assets and then you can relate them to what is going on in this ecosystem. Gaming can be a great way to teach people important concepts such as sharing, using user interfaces and concepts that people know and understand.

The unique tokens industry is preparing for great growth;  Entry of NFTs in the field of defense and equity
Game Oxy Infinity

Defy and NFTs

Kulligan also predicts that NFTs will become increasingly popular in Defy this year, and vice versa. He believes:

Another space that has a high growth potential is the unique tokens in the field of defense. For example, the possibility of using these tokens as collateral is what people are looking for. The intersection of NFT, games and defy is another area that has great potential for growth.

Beyond that, mixing proverbial tokens and defa can also lead to interesting productions. Locked NFTs are also covered, according to Culligan. He stated:

You basically categorize a set of NFTs into a group and then you can own part of that category. Each non-unique token in this classification must fit into a specific classification and be supported by unique NFTs that have their own value.

Quiligan similarly expects “split NFTs” to emerge. He said:

You can take parts or shares of an unpaid asset to divide the ownership among a number of shareholders.

Influential owners

Frederick Haga specifically mentions three platforms in the area of ​​unparalleled tokens that may grow rapidly. The Hague says:

Nifty Gateway and Superior currently have the highest volume. Opensea is also a great platform for trading counterfeit tokens.

The unique tokens industry is preparing for great growth;  Entry of NFTs in the field of defense and equity
Volume of exchanges of unparalleled tokens in a recent year

John Crane believes that Superhero’s goal is to take advantage of its recent growth by developing its platform and services in 2021.

We will launch our mobile software rather than exhibitions [واقعیت مجازی] Strengthen and upgrade the user interface to help users who are technically weaker.

Other high-volume platforms include the Sorare global fantasy football platform, the Art Blocks productive art platform, and the decentralized global gaming platform Decentraland. . However, the current largest unparalleled platform is CryptoPunks, which has been active since 2017.

Crypto Punks, just like CryptoKitties, allows you to purchase a unique “punk” (a kind of digital character) in the Ethereum blockchain. The platform has sold $ 12 million in its entire operation.

The unique tokens industry is preparing for great growth;  Entry of NFTs in the field of defense and equity
Cryptocurrencies

The collectible characters are very attractive and, as Culligan mentioned earlier, are likely to overlap in the coming months and years. This is an area that Aavegotchi, a company that encrypts collectible items under Aave Consulting, hopes to exploit.

Keuligan explained:

Avigos are collectible NFT collectibles in Diffay that have been proven with avi tokens to increase their value. To call an Avigochi, you must provide a certain amount of collateral, which depends on the specific Avigochi profile you want to call.

Growth Outlook

There is a strong belief that in the outlook for the end of 2021 and beyond, the heterogeneous asset industry will experience significant relative growth, even if it stays on the sidelines for some time.

The Hague says:

I think [توکن‌های غیرمثلی] They will remain in a good position to some extent and move behind the wider space of defense, but we may still see tremendous growth in this area.

While agreeing with this view, John Crane emphasizes that unique tokens provide the ideal technical framework to facilitate the growth of this emerging market, digitally collectible objects.

He said:

I think the market for unique tokens will grow exponentially in 2021. Although 2020 has seen a massive influx of new artists and collectors, the market is still relatively small.

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