NFTs are ‘Stayin’ Alive’ as new minting trends, AI and music-based projects thrive
Cointelegraph
Published Feb 01, 2022 12:15PM ET
Updated Feb 01, 2022 02:00PM ET
In 2020, newly launched NFTs projects experienced costly gas wars that are gas priority auctions where buyers battle to secure their spot on the next block, potentially losing Ether (ETH) to failed transactions. In 2021, digital scarcity and utility drove the NFT hype in the constantly surging markets, and toward the end of the year, how much attention any collection received seemed to be at the mercy of influencers’ opinions.
Transitions have slowly emerged and driven new entrants in with new sets of values that not only impact how projects are minted, but what is minted. In 2022, it seems the NFT ecosystem will emphasize “strong communities,” and exclusive collector utility.
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Written By: Cointelegraph
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