Non-fungible tokens are the new-age digital assets that represent real-world objects. It could be anything from videos, JPG images, artworks, or music, to name a few. They are bought and sold online, often using crypto coins, and they are generally encoded with the same underlying software as many cryptos. Each NFT has unique identification codes and metadata. Even though they’ve been around starting around 2014, NFTs are now acquiring a reputation since they are becoming an undeniably famous method for purchasing and selling digital artwork. Assortments of variables have added to the ascent of NFTs, including the connection with the metaverse and celebrities hopping on the NFT bandwagon. NFT sales have taken off, with some notable ones rounding up millions of dollars. The Bored Ape Yacht Club (BAYC), The Sandbox, and CryptoPunks are only a couple of the undertakings that have transformed the NFT industry, both imaginatively and monetarily. As of 2022, sales of the Bored Ape Yacht Club NFTs have totaled over US$1 billion, and celebrities have purchased these non-fungible tokens. Despite being among the first NFTs, CryptoPunks were not initially highly coveted. However, their prices began to skyrocket in 2021 as the broader NFT space expanded. The year was inarguably lucrative for those in the hyped space, raising our debate on the NFT trends in 2022. Will it be another NFT year? Read on for a complete insight into the year 202...
