A recent study found that about 360,000 people currently own NFTs. However, the virtual worlds of the Metaverse might help send that number much higher in the coming years.
If you’re curious about purchasing a non-fungible token, it’s important to keep your eyes on the rise of Metaverse NFT Marketplace options. As any savvy investor will tell you, getting in early on the action is the best way to get more bang for your buck.
Read on to learn about 5 emerging Metaverse NFT trends you must watch in 2023.
1. Play To Earn in The Sandbox
Expect more people to start creating original content and playing to earn via The Sandbox in 2023. This virtual world is built on Ethereum’s blockchain and uses a 3D voxel method to let users create unique worlds, similar to Roblox.
Using the platform’s native currency SAND, anyone can make, manage, and monetize the games they create. To date, users have made more than 70 million fascinating worlds creating a dense NFT marketplace.
User can then sell their innovations on The Sandbox Marketplace or on any other trusted marketplace that allows Sandbox NFTs. Other than virtual land, creations include things like Metaverse avatar clothing and other assets.
2. Virtual Workspaces
The Metaverse is poised to start integrating more real-world applications in 2023. Expect to see more conferences and events held virtually with the help of the Metaverse.
More remote teams should also begin using the Metaverse for virtual workspaces this year. being used by remote teams. The Metaverse keeps expanding which leads to more applications that connect the real world to the virtual world.
Like real-world workspaces, expect virtual workspaces to have their fair share of digital art and assets to set them apart. Employees will even be able to explore and appreciate these assets using augmented reality.
3. Decentraland on the Rise
The popularity of Decentraland is evergrowing as more and more people continue to use the Metaverse project. It allows them to purchase, sell, and control virtual property referred to as LAND. Some LAND is already worth millions of dollars on the platform.
Decentraland also allows users to shop for popular brands, play games, and meet new people. They can also attend virtual events, concerts, and festivals using this innovative Metaverse project.
It also allows for opportunities to make new business projects and even indulge in a little betting! The project runs on the Ethereum blockchain and it’s completely owned by users.
User ownership gives people a lot more freedom to make their own creations. Examples include avatars, marketplaces, settings, apps, and virtual infrastructures. It’s also important to note that the cryptocurrency MANA powers the world of Decentraland.
You can easily buy MANA to use in Decentraland via several of the top cryptocurrency exchanges. Because of the integration of eCommerce, many companies will use the platform for advertising and marketing in 2023.
4. Metaverse Art Galleries
Digital artwork is the biggest trend going in the world of NFTs currently. The growing market and demand lets artists express their visions like never before. For instance, artists can make virtual art from their physical art, which is a growing trend.
Perhaps the most exciting new trend, the introduction of Metaverse art galleries and virtual auction houses. These new platforms help artists add their physical works to digital metaverse art galleries where people use special glasses to view exhibits.
Expect auction houses to emerge right along with digital art galleries in 2023. Users will place bids in an effort to become the exclusive owner of different NFTs.
Some analysts even expect artists to completely ditch physical works for digital works throughout 2023. If this becomes a trend, expect the demand for digital art to rise substantially.
5. More Metaverse Improvements
The accessibility of the Metaverse should greatly increase in 2023, benefiting NFT holders. For example, users can visit virtual environments from anywhere without needing to physically travel.
The metaverse will also improve collaboration this year. Examples of collabs include virtual workspaces and conferences so that users and remote teams can share thoughts and work on projects together.
Sharing ideas via collaboration should lead to improved creativity as well. The Metaverse delivers endless possibilities for creators to explore. This should lead to many new and exciting concepts in 2023.
The Metaverse should appeal to more businesses in 2023 because it will offer more efficiency. That’s because it’s harder to make fast decisions in traditional offices. Rapid decision-making means more time for other areas of business.
Businesses will also show more interest in the possibility of new revenue streams created by the Metaverse and NFTs. Expect businesses to increase revenue with unique digital products and services in 2023.
Keeping customers engaged is also very important to businesses. Metaverse apps can deliver more immersive experiences for shoppers to help with this. The Metaverse will not only help boost engagement, it will also help build loyalty to different brands.
Finally, the Metaverse and NFTs will provide new eco-friendly advantages. Examples include reducing physical travel needs and lowering carbon emissions. So, the virtual world can help eliminate harmful pollutants in the real world!
Following Metaverse NFT Trends
Remember the 5 Metaverse NFT trends from this guide and start taking advantage of new opportunities. Whether it’s virtual land, games, workspaces, or art galleries, the possibilities are neverending!
Both the Metaverse and NFTs continue to improve and gain more attention each year and 2023 makes for a wonderful time to enter. You can contact us at Sandstorm for pricing and more information about building in the virtual world.