HONG KONG / ACCESSWIRE / May 13, 2022 / Tailor Insight, the Asia based market research institute, has released a report on ‘Promising Trends on Metaverse and NFT Infrastructure 2022’. NFTs born from Blockchain technology are now taking the power of AI behind them. NFTs will take on an interactive structure and may have the potential to reach human intelligence in the future. As if, the number of technologies that could pose a threat to humanity was small enough.
Tokenization Powered by NFTs
Thanks to being able to be leveraged on the Blockchain and to represent both palpable and digital assets in a secure and censorship-free way, NFTs can act as publicly traceable certificates of ownership for any imaginable asset.
Fundraising of NFTs
NFTs have proven that fundraising can be hassle-free and decentralized. People can use smart contracts to create NFTs that donate money with the security of blockchain technology. The upside is that they are transparent, publicly traceable, and ensure funds reach designated charity organizations.
Increased Utility with Certificates of Authenticity (COAs)
One of the biggest culprits people fall for when shopping online is whether the object of desire is authentic or just a fake. Imagine there’s a luxury watch you want to buy from the secondary market and the only way to be sure it is the real deal was to look at the pictures provided. NFTs can be issued by manufacturers to guarantee their authenticity.
While not every big company will jump on this trend, there is a high chance that people will be able to cast their favorite NFT to represent a brand in marketing campaigns and monetize their collectibles this way.
The growing share of Solana
Solana is a third-generation blockchain that, unlike other blockchains, uses a hybrid consensus algorithm. To be more precise, it combines proof-of-history (PoH) with proof-of-stake (PoS). Due to that, it can process over 50,000 transactions per second. To compare, Ethereum can’t handle more than 30 at the same time. Launched in 2020 by the Solana foundation, Solana Blockchain aims to solve scaling problems that struggle with most current blockchain protocols. Its main objective is to support DeFi ecosystem growth by fitting in the so-called blockchain trilemma: decentralization, security, and scalability.
Big brands start to use NFTs
It’s quite a common pattern for new technology solutions that the success of smaller projects eventually attracts the greatest of this world. NFTs, for sure, aren’t an exception. Currently, more and more brands are starting to explore opportunities that NFTs can bring them. So far, leading industries are fashion and, surprisingly, food. What is important, such projects stimulated the significant interest of NFT holders.
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SOURCE: Tailor Insight Market Research
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