Since the late 2020s, there has been a buzzing trend around Non-fungible tokens. The boom of NFTs in 2021, even though they were in their primary stage back then, gave remarkable popularity to them. The concept of giving ownership of digital assets was welcomed all over the world. With Top NFT marketplaces giving options to mint the NFTs without codes in the platform, the popularity of NFTs surged. This gave an opportunity for independent artists to monetize their NFTs easily. Since 2020, what are the updates on Non-fungible Tokens, and what will the future be?
The evolution of NFTs
Cryptopunks was one of the early Non-Fungible assets on the blockchain, and you won’t believe the fact that they were airdropped in Ethereum wallets for free. Five years later, NFTs were sold for millions of dollars, and an NFT with just one red pixel was sold for thousands of dollars. Those were primary NFTs that can only depict the ownership of the digital file on the blockchain.
Following them, the updated versions of NFTs began to barge into the field. They come with updates like having different appearances, nesting of NFTs where one NFT can own other NFTs, and whatnot.
While we have NFT 2.0 on one side, SBT or Soul Bound Tokens on the other side gave a whole new perspective for NFTs. These tokens on the blockchain will have only one owner, and they cannot be transferred to another.
NFT games are widely emerging, and introducing the Web3 model of gaming brought the whole new Play to earn gaming concept. NFT gaming marketplaces are coming out, giving a lot of new opportunities for gamers.
The bottom line
NFTs are taking over the world for sure, and it is making their way into several sectors. Every blockchain is getting its way to host NFTs better, and there are blockchains like Flow that were specially made for NFTs exclusively. With the best NFT marketplaces giving out several new features for NFT lovers, NFTs will sure take off, bursting all the bubbles.
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