NFTs have become hugely popular in recent years, reaching USD $2.5bn in sales volume in the first half of 2021. However, NFTs are currently an under-utilised source for the gaming world. Certain companies such as Ubisoft are leaning in, launching Ubisoft Quartz, where they will offer NFTs they call “Digits”. Polygon are also noticing NFTs, having launched Polygon Studios, which focuses on helping to advance blockchain gaming and NFTs, in July.
In 2022, more gaming platforms would be wise to jump on board. This will be the year that more gaming platforms finally open their eyes to all of the exciting changes that have the possibility to take place in online gaming in the not-so-distant future, and understand the value of leaning in to this untapped market.
Brands will carve out marketing spend to define themselves within the Metaverse
Many people are predicting 2022 will be the year of the Metaverse, but the concept isn’t a new one. Epic, Roblox, and now Meta are all already investing heavily in collective virtual spaces where we can play, work, exercise, and socialise. And so, with our attention elsewhere, in 2022 we will see more brands carve out specific marketing spend to accelerate the growth of their brand identity within this new space.
Our daily digital interactions are already changing; the way we consume content and interact with friends is shifting to accommodate our virtual presence more than ever, and over the next few years we’ll start to see more of how the Metaverse, its users, and brands can work together.
Most recently, John Lewis and ITV activated within Fortnite, whilst Nike launched Nikeland in Roblox. These are prime examples of how brands can authentically and successfully implement brand-led Metaverse experiences, whilst allowing you to purchase and collect digital items known as NFTs.
NFTs are a way of buying and selling digital assets that represent real-world items, and we’re already seeing demand for them increasing rapidly. Sotheby’s, known for selling high-value items, already deals in the Metaverse, and luxury brands such as Balenciaga sold their NFT collections within 33 seconds.
In 2022, NFTs will represent a multi-billion dollar market and become more accessible for any user to buy and sell their most beloved collectables from the real world, in the virtual space.