Decentralized finances 14 has dominated the seven displays (not to mention a devoted four-hour summit). The stage time comes at the end of an excellent year for NFTs.
Sales numbers have routinely driven past half a million. Many NFT-backed games experienced significant advancements in player bases and governance. As of late, even celebrities have been utilizing the technology to share the art of sometimes-questionable quality to die-hard fans.
Nevertheless, gaming and collectibles aren’t the only fields where NFTs are starting to play a role. A report titled “Bridging the Gap Between DeFi and NFTs,” Alex Salnikov of Rarible remarked. He said that original, smart contract engineering points to a growth in DeFi use cases for non-fungible tokens.
Salnikov thinks that trend will only proceed as newer projects come to market.
Partial ownership, covering ERC-20s, using NFTs as insurance, and NFT funds are all driving NFTs into the similarly hot rising financial vertical. Salnikov thinks that trend will only proceed as newer projects come to market.
Likewise, John Crain’s “NFTs: Trends in 2021” exhibition concentrated on not just the extension of common NFT verticals. It also discusses how NFTs can help facilitate traditional meatspace contracts like mortgages, not only in the metaverse (which is also getting encouraging paces).
These technical improvements affect the number of addresses involved in NFTs and complete volume for successful NFT marketplaces like Open sea. As stated by Dune Analytics, traffic on Opensea’s platform is starting to bend parabolic. Some analysts consider space could be doing more further to bring a more significant following, nevertheless. Zach Burks of Mintable covered the Way for Adoption of NFTs to the Mainstream. He said that the amount of NFT users is dominated by the larger number of participants Ethereum ecosystem.
However, the display at ETH Denver displays that a use case once mocked as secondary is converting more embedded in mainstream development. What’s more, Crain stated in a Q&A after his panel that while some people will never understand NFTs, non-fungible tokens will surely draw their batch of followers.