This year, the market for non-fungible tokens (NFTs) had a rough time, but next year, their popularity is expected to skyrocket. More companies in all kinds of industries will use NFTs to attract, reward, and keep the next generation of shoppers by giving them immersive experiences in the metaverse. Meta and Reddit are expected to be the places where people talk about and sell products in the NFT and Metaverse industries, which both fell this year.
Rajagopal Menon, vice president of WazirX crypto exchange, said that a new type of virtual interaction technology based on Web3 will come out in 2023. This will speed up competition in the business world and marketing efforts all over the world.
Last week, Bloomberg stated DappRadar to say that the collapse of the FTX cryptocurrency exchange caused NFT sales to fall to their lowest level in 16 months.
The digital collectibles market, on the other hand, is expected to do very well next year.
This is primarily due to the fact that more countries have developed their own rules, providing investors with an additional layer of security.