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What to Expect in 2023?

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A new report by Activate Technology says: irreplaceable The token (NFT) and Metaverse hype is over, and both sectors will require targeted corporate interest going forward.

In the future, there will be new use cases for NFTs to help businesses build brand loyalty, but the Metaverse requires sustained development of businesses.

according to the new report The NFT released by the company is peak bubbleSo the hype surrounding the space will gradually diminish.

Blockchain and Web3 will make NFT a mature product. Drive greater utility for tokens. Businesses also leverage the space to build communities around their brands. Buyers will also benefit from a sense of belonging.

Starbucks already offers the Starbucks Odyssey Experience, which uses the NFT Collection Stamp to give owners access to a unique coffee experience.

Additionally, the report revealed demographic shifts Current NFT market participants. We define participants as those who have “researched, discussed, viewed, bid on, purchased, exhibited, sold, or created an NFT in the past 12 months.”

The number of US participants increased from 12% in 2021 to 18% in 2022. 43% of NFT participants are from wealthy households with an income greater than her $100,000.

sauce: Activate technology

NFT sales in primary and secondary marketplaces will exceed $23 billion by 2022, excluding LooksRare. Most NFT owners today buy them to display on social media and in their collections. This is unlike the early days of the NFT cycle when people bought and traded NFTs as speculative investments.

Only 51% of adults over the age of 18 will buy as an investment in 2022, compared to 76% last year. 19% more buyers use them for display purposes and 4% more simply treat them as digital collections.

12% less people are buying because of novelty. 2% or more have purchased support the artist Or an athlete.

According to Activate Technology, in addition to the end of the NFT bubble, the metaverse hype cycle is also over, requiring companies to identify opportunities and dedicate business resources to this area. To take full advantage of the metaverse, enterprises should focus on interoperability between virtual worlds.

The foundation of the Metaverse has already been laid over 20 years through the immersive virtual worlds of games. Last year, approximately 77% of US gamers engaged in non-gaming activities in-game. They create and personalize avatars and buy virtual goods.

Gamers in China, Japan, and South Korea spend 30 hours a month playing games like Roblox, Minecraft, and Fortnite with specific metaverse elements. These elements include immersive experiences, social interactions, mixed reality, identity, and in-game economies.

Virtual and augmented reality will never be mass-accepted, nor will they be the future of the Metaverse.

“We expect to see significant and sustained investment in innovation in the coming years,” concludes the report.

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