As of 2023, the NFT industry has experienced significant growth and development since its very emergence. The rise of the NFT sales volume happened in 2021, then the art segment of the market fluctuated significantly. However, since the beginning of 2023, the industry is slowly getting back on its feet – . January trading volumes hit a 7-month high : 50% of this text was written/edited using AI tools. Disclosure disclaimer Why the NFT market will thrive in 2023 NFTs are the alternative opportunities to invest and hold the money, and the sector still attracts entering the market. While Ethereum still accounts for the lion’s share of trading volumes, with more than 78% of all trades on the blockchain, Polygon had the biggest influx of traders in January 2023. They on the untapped potential of Web3 by onboarding large enterprise brands, DeFi platforms and gaming companies. new holders as well as companies and blockchain partners decided to focus , NFTs have already become an increasingly popular way to buy, sell, and trade digital assets, such as paintings, music, and collectibles. It was the power of blockchain to enable the creation of secure and transparent digital marketplaces where NFTs can be bought and sold. As more people are getting familiar with crypto and blockchain, the forthcoming recovery and development of the NFT industry is moving closer. For the artistic community In fact, many artists now view NFTs as an important , enabling them to monetize their work in new and innovative ways. part of their business model Introducing The Oscars for NFT industry To recognize and celebrate the achievements of these artists, new have been launched, similar to the Oscars in the film industry. NFT contests The " ," will be an annual event that recognizes the best NFT artists across a variety of categories, starting with the Best NFT Artwork, and attended by top industry leaders, investors, and artists. NFT Design Awards will receive not only recognition but also valuable prizes, such as funding for future NFT projects or access to exclusive NFT marketplaces, AMA sessions, Magazine features etc. Winners of the NFT Design Awards The NFT Design Awards will be a significant event in the industry, showcasing the best and brightest talents in the NFT world and inspiring further innovation and creativity. As the NFT industry continues to evolve, it will be important for brands to establish themselves as leaders and innovators in the space. This is where initiatives like the NFT Design Awards can be invaluable. The platform itself is an exiting way to get to know of aesthetics and technology of various genres inside NFT art. Final Thoughts Looking ahead, it is likely that the NFT industry will continue to evolve and expand in a number of ways. One potential development is the creation of that offer advanced features, such as that enable buyers and sellers to negotiate and enforce specific terms, as well as more options of to showcase and mark NFT art. more sophisticated NFT marketplaces automated royalty payments and smart contracts exhibitions and awards All in all, the market is in great hands, as it is a natural continuation of arts, that won’t ever fade into oblivion.
