Has the NFT Bubble burst? The NFT market has finally crashed? Many people’s sentiment has been after the recent NFT hype, yet the reality is very different. In Q2/2021, the new NFT world is here, with new players, new challenges, but an ever-bright future. Welcome to the Second NFT Age.
Don’t miss this: NFT in a nutshell – Everything you need to know.
From here on in the market, trends are analyzed and dissected, day after day, to identify a potential peak or market crash. Companies and institutions from all walks of life and sectors are starting to question the impact these famous NFTs could have on their strategy. The most advanced are already developing their product of tomorrow, based on or using Non-fungible tokens.
Key Summary
This article from InApps Technology, authored by Tam Ho, examines the state of the Non-Fungible Token (NFT) market in Q2 2021, addressing concerns about a potential market crash and highlighting its resilience and future potential. It emphasizes the evolving role of NFTs in various industries and their foundation in blockchain technology. Key points include:
- NFT Market Context:
- Market Sentiment: Despite fears of an NFT market bubble bursting post-hype, the article asserts that the market remains robust, entering a Second NFT Age with new players and use cases.
- Resilience: NFTs emerged during the Crypto Winter of 2018/2019, when cryptocurrencies like Bitcoin ($5,000) and Ether (<$100) hit lows, proving their durability.
- Market Dynamics: Q2 2021 reflects a healthy reflux after the initial hype wave, setting the stage for a stronger future wave with broader stakeholder involvement.
- Future of NFTs:
- Vision: Envisions a cashless society where blockchain-based transactions (e.g., paying rent with gas) become standard, urging early adoption to prepare for a digital-first future.
- Call to Action: Encourages businesses and individuals to embrace NFTs and blockchain to stay ahead in the evolving digital landscape.
- InApps Perspective: Optimistic about NFTs’ transformative potential, advocating for proactive engagement.
- Industry Impact:
- Companies across sectors are exploring NFTs’ strategic potential, with advanced players developing NFT-based products for future markets.
- Applications include digital art, collectibles, gaming, tickets, passports, and more, leveraging blockchain’s ability to ensure uniqueness and traceability.
- InApps Insight:
- Aligns with Microsoft’s Azure Blockchain Services and Power Platform, utilizing Power Fx for low-code NFT solutions and Azure Durable Functions for scalable blockchain transactions.
- InApps Technology, ranked #1 in Vietnam for app development, integrates Ethereum, Vue.js, GraphQL APIs (e.g., Apollo), and Azure to deliver innovative NFT solutions, targeting startups and enterprises with Millennial-driven expectations.
WHAT HAPPENED IN Q2?
QUATER CONCLUSION
Do you know the greatest strength of NFTs?
This asset class saw its development forged during the great “Crypto Winter” of 2018/2019. Remember it? This is the period when all cryptocurrencies saw their value drop steadily until Bitcoin reached $5,000 and Ether less than $100.
NFTs are in a rising tide. We have only just experienced the first wave and are now in a state of reflux, normal, predictable, healthy. The next wave will be stronger, more powerful, and will bring new stakeholders and use cases with it, and onwards we go.
Whether you embarked three years ago or three weeks ago, welcome to this incredible adventure that we all participate in building day after day.
THE FUTURE OF NFT
We are the “early bird” of the new world era. Therefore, we must continuously learn, accept and adapt to the digital world, especially Blockchain technology.
Think about the day that our next generation living in a cashless society, paying rent by using “gas.” The early we move, the better for the next generation.
At InApps Technology, we’re optimistic about what the future holds for NFTs. If you don’t act now, when?
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List of Keywords users find our article on Google:
| site:www.inapps.net |
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