NFT as a Service (NFTaaS); NFT Will Dominate the World

The catalysts behind the growth

One of the major reasons the NFT trend is so spectacular is because it transforms the value proposition for creators. Instead of enlisting a publisher, gallery, or record label to monetize creative works, artists can carve out a larger slice of the total pie. This paradigm shift also breaks down the traditional stratification between consumers and creators.

Celebrity influence propels NFT adoption momentum

The NFT market is driven by rarity to an extent. With the influx of celebrities and influencers jumping in, platforms like Ethernity started producing limited-edition NFTs by artists and “personalities.”

The play-to-earn gaming revolution’s footprint

Back in 2017, decentralized gaming company Enjin was one of the first mainstream gaming companies to understand (and leverage) the intersection of gaming and blockchain. It merged blockchain technology to its infrastructure and issued a gaming cryptocurrency, ENJ, which is officially whitelisted for use in Japan.

The gleaming outlook for NFTs is already materializing

The first wave of NFTs was a testing ground for Ethereum’s tech, primarily centered on the digital possibilities for art. Now, we are entering a second, roaring-20s phase for NFT adaptation as new use cases are unveiled, signaling additional room for expansion.

What makes an NFT special

An NFT is a digital object — some computer code and data — that conveys ownership of something. The property could be online, like virtual real estate in some digital world or a special outfit in a video game. It might be something real: actual real estate, a painting, or seat at a concert. Then again, an NFT might be some hybrid, like the right to decide who can lease a room in a cooperative living space (something a San Francisco entrepreneur tried, though with no takers as if late May 2012).

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