This information is essential. Trends in NFT range from music to meta. Why should you be aware of NFT trends? Regardless of how you feel about NFTs, some of these emerging trends may alter how we use the internet, market goods, purchase and consume art, and even make and listen to music. Jace Kay, a member of the Bored Ape Yacht Club, believes that the promise of Web 3.0 and NFTs will finally materialize in 2022.
If all of this is confusing and you still don’t understand what NFTs are, visit our explanation of what NFTs are as well as our guidance on how to create and market an NFT. You can read about how World of Women and International Women’s Day demonstrated how NFTs are revolutionizing equality in the arts.
However, believe us when we tell that when it comes to NFTs, Kay is an expert. Along with being a part of one of the most popular NFT groups, BAYC, he also co-founded the social music streaming service Stationhead with Ryan Star and invented the well-known Facebook Lemon AR filter.
Still not persuaded that NFTs are worthwhile investing in? Vacant Ape Kay provides a succinct illustration: “I spent about $3,200 on my first Apple computer in 1996. […] But if I had simply purchased Apple stock, I could have avoided working a single day of my life. When you purchase a “computer” in the new world [of NFTs], you are effectively purchasing a stake in the company. You can still get a piece of that when it blows up, then.”
In keeping with his tendency to follow trends, Kay established the online band The NFTs with the publication of their debut single, “I’ve got a nice cat too,” and used his own NFT club, the StereoheadZ Music Club(opens in new tab), to cast its stars. Discover how, according to Kay, NFTs, and digital trends will be dominated by music, NFT casting, and more in 2022 by reading on.
Interested in learning more about NFTs? Don’t miss Vertex Week 2022, the premier online exhibition for the community of digital artists. Jace Kay, the founder of Stereoheadz, and the Bored Ape Yacht Club will talk about NFTs, music, and the metaverse, while Disney artist Chris Petrocchi will give advice on how to market your NFT artwork.
The benefit of NFTs over conventional IP creation is that you can acquire a portion of a larger brand and profit from it. NFTs like Bored Ape Yacht Club and StereoheadZ give artists, animators, and musicians a new sense of creation by allowing users to mint their own art for the group.
Jace Kay’s NFTs band used personality Avatars created by members of the community, and funds were given back to them. It helped because a rock star who is still unidentified belonged to the StereoheadZ Music Club.
Expect to see more of this “Avatar Casting,” as Kay refers to it, in 2022. Members can provide their Bored Apes or StereoheadZ for usage and receive a share of the earnings on any of the numerous projects he and the BAYC are working on. Another NFT trend for 2022 is connected to this.
According to Kay, granting community members IP management allows them to “take and spin into new ways that the parent brand would never have done in the past.” The primary and secondary resell rights provided by a blockchain and NFT ensure that an artist is always compensated for potential uses of their work. Losing possession of an IP allows for development and innovation, and artists are compensated for their contributions and labor at every level.
Take Bored Ape Yacht Club, for instance. It didn’t exist before May  and is now almost one of the most well-known brands in the world thanks to partnerships with Adidas and other companies, says Kay.
Will companies like Disney and other major brands share their intellectual property with NFT communities? Although it is unlikely, huge firms that use NFT communities and organizations to promote new items would adopt this kind of community-led marking and branding strategy. Your artwork might be featured in a Coke commercial next Christmas if you make a Bored Ape and set it up for avatar casting.
The significant carbon footprint that an NFT leaves behind is the boring white elephant in the room.
On the Ethereum blockchain, a single transaction consumes as much energy as a typical home uses in two days and a half.
According to Kay, Ethereum “burns energy, like driving a car with the brakes on and the gas pedal pressed.”
“That’s not how it has to be.
And it is altering.
Ethereum 2.0 will gradually roll out over the course of the following year and will significantly alter the market.
According to Kay, Ethereum’s present “pipe” can’t accommodate the massive number of users that want to utilize it, which results in higher transaction fees.
The expansion of the conduit with Ethereum 2.0 will lower expenses.
Reduced costs, increased output, and an increase in the value of NFTs produced on the blockchain are all features of Ethereum
This is a major issue.
The usage of NFTs for utility, such as gaming or gaining entry to exclusive communities, will take precedence over their current use to promote art in the coming year (tied to avatar casting and marketing for Web 3.0).
This is already evident in video games, where AAA producers like Ubisoft have invested in a blockchain to enable gamers to purchase and unlock goods with real market value.
Another “play-to-earn” game adopter is Axie Infinity, which is currently valued at “$6 billion” and offers players the opportunity to make $15 per hour via NFT prizes.
Kay claims: “Many NFT initiatives are attempting tokenization, which makes it seem as though you are receiving greater value from it.
Additionally, it is possible to sell these tokens on the secondary market.
It has a lot of power if you execute it correctly.”
In 2022, the metaverse (read our explanation of what the metaverse is) will officially begin, and NFTs will be at the core of this immersive technology. The benefits of blockchain, cryptocurrencies and NFTs will be delivered directly inside the metaverse, immediately displacing the jargon-filled entrance hurdles. But according to Kay, Apple’s approach to UX and UI, which is seamless, is where it all truly starts.
The important thing to remember is that Apple will be the one to advance things, just as they did with the App Store, according to Kay. The catch could be the high-end AR/VR technology’s rumored $3000 price tag for the Apple VR gear. Could this be the point at which Meta/Facebook and Oculus seize the initiative in terms of VR headsets? Not in Kay’s opinion, who has no trust in the dominant social networking platform.
“In addition to being on the incorrect side of the curve, [Meta] is behind it. The metaverse will suffer because of them. A recipe for disaster is meta, “According to Kay, there won’t be a single metaverse; instead, there will be a decentralized mixture of apps, occasions, venues, and platforms. We must prevent that from happening because Facebook will always try to turn it into their own metaverse, where you can sell your NFTs but it will be centralized.
Kay claims that “NFTs are built for Web 3.” NFTs and the internet’s progress go hand in hand, and things will really get going in 2022.
To put it another way: The monies may be permanently lost if even a little error is made during transmission.
Customers currently use crypto trading platforms as an entry point, therefore centralized cryptocurrency exchanges have a great potential to penetrate the NFT market.
Music and NFTs will be large in 2022, Napster enormous. The NFTs, a virtual band created by Kay and other Bored Apes, is only the beginning. NFTs, on the other hand, will be more widely used in the music industry. When Jack Dorsey stepped down as Twitter CEO, he aimed to convince streaming services like Tidal to embrace music NFTs, which is why he started Block (previously Square).
Stationed, a live music and broadcast platform, is another of Kay’s projects, along with the StereoheadZ NFT, a decentralized music label and community. Station head lets you to broadcast live events and even stream your music from Apple Music and Spotify, and it’s legal.
Listeners will be able to drop in and talk or release their own music on platforms like Stationhead and elsewhere in the metaverse. Fans of a band will be rewarded with NFTs on the blockchain, and artists will be able to keep track of their income thanks to NFTs.
Kay’s group of musicians Kay states that the StereoheadZ Music Club NFT’s supporters will get prizes and even be cast in a future music video – the animators for that film will be drawn from the SZMC.
When it comes to the sort of use you receive and the enjoyment you have, “real world experiences” are becoming more common, adds Kay.
By sponsoring NFT projects, you’re demonstrating your commitment to a community that includes frequent events for token holders.
A New York City celebration in 2021 saw 2,000 Bored Ape Yacht Club NFT holders converge to witness Beck, Chris Rock, and a resurrected The Strokes perform in a secret warehouse location.
It’s clear that “IRL [in real life] encounters are going to be a massive, enormous phenomenon.”
Kay argues that at the present, we speak about NFTs providing artists and content producers control of digital material, but in the future, everything will have an NFT..
In addition to art and music, “we’re beginning to speak about seeds, about purchasing food,” Kay explains. “Everything you purchase will have a digital trace that lets you know who owns what,” he continues.
If Adele buys a sweater and then sells it, you’ll know it’s Adele’s and its worth will rise.
“Things and experiences will soon be able to have digital tags attached to them.
It allows for a wide range of creative applications of transparency.”
According to Kay, we’ll see a lot more NFT characters in the coming years. Instead of performing as themselves, artists will be able to do it as an NFT personality via the use of applications in the future. According to Kay’s knowledge, there is a Snapchat app in development that allows users to be replaced by a Bored Ape entirely. It “looks” genuine to him. “It’s awe-inspiring,” he said.
NFT personalities will become more common among artists and celebrities in 2022. In the Metaverse, musician Teflon Sega only exists as a performer, but anticipate more well-known stars to adopt the anonymity of playing for a small group of admirers behind a digital identity. In 2022, this will be pushed to a new level, following in the footsteps of Gorillaz.
Disclaimer: The views represented in this article do not constitute financial or investment advice or recommendations for any person or any particular investment product. NFT markets are the subject of this article, which aims to offer an overview of the subject. The opinions expressed in this post might shift at any moment, for any reason.