More

    The Future Of NFTs In 2024: BOP or FLOP?

    The NFT market grew significantly in 2021. And it is true that the market suffered from many flops and surges and certainly many rug pulls and scandals. Even though many users gave up on NFTs after the many scandals and rug pulls that took place over the course of these couple of years. There are still many users who remain loyal to the market and will continue investing in 2024. The question is, Will the NFT 2024 scene be the same as back in 2021? With that, we shall go into detail about what the future has in stock for 2024.  Let’s dig in.

    NFT 2024

    We cannot deny that NFTs are rising again, and now it has gained a lot of attention. So, it is safe to say that the NFT 2024 scene has a good potential to rise to the heights of its 2021 history. Here are the Top 5 reasons NFTs will rise in 2024:

    #1 Future NFT Projects

    NFT 2024 will witness a bunch of new projects that will shape the start of 2024 and open doors for other drops to happen. For example, a new collection that will open the NFT 2024 season is ‘Real Even-Shiny Gem’ collection. 

    This unique collection will let you own a diamond via an NFT Each of the NFTs corresponds to the Certificate of Ownership of a physical diamond, specifying all of its characteristics as expressed by the 4 C’s: Carat, Color, Clarity, and Cut. Once you have your NFT you may retain it as a digital token, resell it on a dedicated NFT marketplace, or recover it for your physical diamond for One Year!

    Another project is the MMA Mobile Game which will include NFTs. Notre Game, an Animoca Brands company, is making a mixed martial arts (MMA) mobile strategy fighting game with NFTs alongside the Singaporean MMA brand One Championship. The One Fight Arena game is currently slated for an early 2024 launch, with early player testing beginning later this year.

    #2 Higher Price

    NFT 2024 will witness price growth which seems like a good reason to consider NFT as an investment option. According to NFT Stars, the predictions for NFT pricing in 2024 are as follows:

    The average price for NFTs will range from $1.70 in January to $2.20 in December. While the predictions are all heading in the positive direction there are differences in the price predictions. According to Price predictions, the NFT 2024 price will average a total of $0.033. 

    The difference in the prices is quite concerning but we can’t deny that they both promise a positive and bright future for NFTs in 2024. 

    #3 Trading Volume 

     NFT trading volume hit $5 billion at its height in August 2021, however, since then the NFT market has tapered off slightly. But it is still one of the hottest buzzwords in town and continues to grace headlines. Fueled by the rising interest in metaverse and gaming, the non-fungible-token (NFT) sector is projected to move around $800 billion by 2024, says a new report by crypto market tracker Coingecko

    #4 New Web3 Technologies 

    And to make matters more intriguing there is a bunch of new technologies currently under development. These technologies will have a debut in 2024. An example of such technology is the Web3 gaming console that will feature NFTs. And suddenly NFT 2024 got sweeter when Polium, Web3 gaming-focused company, announced the release of a multi-chain gaming console. ‘Polium One’, will support eight Blockchains and NFTs (non-fungible tokens). 

    The company has also stated that the ‘Polium One’ console will include its own multichain crypto wallet. And a wallet button on the controller to help users conduct more efficient trades. A fingerprint scanner on the controller will enable the security and verification of console transactions.

    Polium will be distributing approximately 10,000 consoles to Polium Pass holders and partners at the initial launch in Q3 of 2024. More units of the console will be made for the general public in Q3 2025.

    #5 NFT Events

    Furthermore, we definitely cannot forget the NFT events that will start NFT 2024. The many events include major ones like NFT.NYC 2024 and NFT Paris 2024. NFT.NYC 2024 already started its Early Bird sales with the ‘Early Early Bird’ already ending. 

    People can now sign up to get their tickets to next year’s biggest event at a lower price of just $419 for the normal ticket. And $1,366 for the VIP ticket. The event will take place from April 3, 2024, to April 5, 2024. Register here.

    Moreover, NFT Paris 2024 also opened up the pre-register options. But the difference is that you have to register for a waiting list before the official registry opens. The event will take place in February 2024. You can join here

    These NFT conferences are perfect to introduce people to new Web3 projects and collections that will launch that year and in the future. The fact that people are already purchasing tickets to attend NFT-related events means that the NFT 2024 popularity will not die down. In fact, it seems that the NFT future is looking very bright and might even reach the 2021 status that it previously held. 

    Future Intensity 

    Lastly, the numbers and statistics show that NFT 2024 will be very promising. Yet some people may still have some doubts about the truthfulness of these predictions as they could just be false. 

    The NFT market is known to suddenly face many problems and flops as we have seen after 2021. The rug pulls and scandals collections and companies faced made users very wary of investing their money in future projects.

    And no one can blame them because you never know who could pull out with people’s money and just pay a minor fine to get away with it. However, the market in 2023 is growing more popular and is hitting new milestones with more people joining the market. Not just fans, but also brands like Gucci, and famous people like Donald Trump. So, are you ready for NFT 2024? 

    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here

    Stay in the Loop

    Stay in the loop with blockchain Witcher and get the lastest updates!

     

    Latest stories

    You might also like...