Increased adoption of Metaverse NFTs will power the next NFT growth cycle
Metaverses and blue-chip nonfungible tokens (NFTs) are the driving forces behind the dramatic growth in the NFT market. Projects like the Bored Apes, Crypto Punks, Azuki, Clone X and Doodles collections have steadily attracted collectors’ interest in the past year. As a result, these NFT projects have helped the NFT market achieve a growth rate of over 20,000% and a sales volume of approximately $17 billion.
For an industry that once occupied a tiny sliver of attention within the crypto/blockchain world, it’s clear that NFTs are here to stay despite earlier critiques of their ephemeral nature. However, given the recent lull in the NFT markets, investors and collectors alike are now seeking new frontiers where they can capitalize on the innovative application of NFT technology in different use cases.
Constantin Kogan is a co-founder of BullPerks and GamesPad, partner at BitBull Capital, founder of Adwivo, and former managing director at Wave Financial as well as an entrepreneur, meta-connector, influencer, blockchain technology enthusiast and digital asset investor, and a top thought leader in hedge funds, IT startups, venture capital, healthcare, agriculture, real estate and media/entertainment. Constantin holds a Ph.D. in Sociology, an M.Ed. and is fluent in five languages.
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