NFTs are still around and some projects are actully doing rather well. However most NFTs have made their way on to other blockchains creating all new bull runs for their tokens. Take notice of $SOL which has been blowing up and NFTs there continue to gain more and more traction.

These lower fee blockchains that can handle more than the likes of Ethereum are proving to be popular options to build NFT projects and 2024 seems like it will be a very active one once again.

NFTs Last Bull Run

The last bull run for the NFT markets took off with the introduction of artwork and a multi million dollar sale. This started to spark many projects to quickly develop what I would call junk art. Just random images and projects that talked a lot but never really offered any real value. Instead it was just speculation value and hype of people wanting the NFTs that made them have any kind of value behind them.

Now in this next bull run to come it seems like the NFT space is going to change. Instead it's going to be higher quantity at more affordable rates. This will allow more people to own them but also these new style NFTs will start to have value creation behind them instead of pure speculation which is another very big plus.

For example we see this primarily right now in NFT style games such as Splinterlands where these NFTs have real use cases behind them for different aspects of the game. Be it mining lands, fighting and winning in battles, contributing to guild battles and soon wagons for airdrops these nfts have real use cases behind them giving them use cases and real value behind them as they get older and get used.

There's also other aspects of this where NFTs will be earning fans for playing in games such as that with a new upcoming game on the Hive blockchain called Genesis League Goals

Other examples of this could be collaborations such as Nike, Reddit, Starbucks and even Donald Trump NFTs which have backend value behind the NFT themselves.

Ticketmaster and event ticks have also been tried and will most likely continue to grow in popularity not only for the security they offer but as a perk for those who can use them in the future.

Imagine a proof of ownership of a special concert ticket that might get you 10% off any future tickets. Or proof of 10 concert tickets to go backstage etc. The proof of ownership and NFTs open up a whole new world of security and value.

It really feels like the next drive for NFTs will be smaller value and a lot more of them across many new chains, businesses and games. This is expected to drastically increase the amount of people that have exposure to NFTs and thus the overall crypto markets and hold some type of value just for doing the every day things they currently do.

Posted Using InLeo Alpha