Klever
  • Home
  • Global
  • Exchange
  • Wallet
  • Education
  • NFTs
  • Announcements
  • Opinions
  • Marketcap
No Result
View All Result
  • Login
  • Register
Klever News
  • Home
  • Global
  • Exchange
  • Wallet
  • Education
  • NFTs
  • Announcements
  • Opinions
  • Marketcap
No Result
View All Result
Klever News
Home Global

Setting the scene for NFTs in 2022

by Jagdish Kumar
December 27, 2021
in Global
Reading Time: 4 mins read
2.9k
A A
0
Share on FacebookShare on Twitter

I want to describe what an NFT is before we talk about the NFT market.

Non-fungible tokens (NFTs) are digital assets that are based on a blockchain. The blockchain acts as a public ledger, allowing anyone to verify the authenticity and ownership of the assets. An NFT has a unique digital signature, meaning it is one of a kind, not like most digital items which can be mass-produced.

You might also like

Time to start using K5: learn how to migrate to the new Klever wallet app version

Time to start using K5: learn how to migrate to the new Klever wallet app version

January 31, 2023
7.3k
Use cryptocurrency and blockchain for transparent and secure voting

Use cryptocurrency and blockchain for transparent and secure voting

January 30, 2023
7.3k

Cryptocurrencies and fiat are commonly used to buy NFTs, which are recorded on a blockchain. NFTs are viewable by anyone, but the buyer owns them. NFTs can be digital items like images, videos, collectibles, land in virtual worlds, music, text, as well as tweets. 


Evolving market in 2022

All the crypto projects have started to roll out their own NFTs to attract users into their fold. NFTs have ruled 2021 and will become a game-changer for the adoption of crypto across the world.

Among the successful projects that made this possible are CryptoKitties, CryptoPunks, Bored Apes, ETH Stone, Hashmasks, and Decentraland. 

Several of these NFTs was sold for over a million dollars under the aegis of one of the world’s largest auctioneers, Christie’s, Sotheby’s auctions, to name a few.

In 2022, NFTs will establish an industry that will allow all artists to sell their work to buyers around the world. At present, the majority of NFTs are based on the Ethereum protocol. However, in 2022, we will see NFTs rolled out on other protocols like Klever Chain too. 

Klever NFT Marketplace will also be launched soon providing an alternative to OpenSea and other NFT Marketplaces. 

According to a market tracker, DappRadar, sales volumes of non-fungible tokens (NFTs) surged to $10.7 billion in the third quarter of 2021, up more than eightfold from the previous quarter, as holding crypto assets reached new highs.


Impact of COVID-19 on the global NFT market

People all over the world have been forced to stay indoors due to regular lockdowns caused by the COVID-19 pandemic. All such populations, regardless of their age or origin, have been forced to find alternative forms of social interaction and, so, have been exposed to NFTs through virtual communities. These NFTs have a monetary value, so people started investing in them, and they will do so in 2022 as well.  

With just $338 million in transaction volume in 2020, the global collectibles market including arts, painting, cars, toys, antiques, and more is a $370 billion market.

In light of these statistics, now is the perfect time to invest, as the global market for NFTs is expected to grow 1000-fold in the next ten years.

Currently, NFT transactions are dominated by retail traders, with the vast majority being valued below $10,000. But there are also some large transactions that are gaining ground. 


Rise of insurance in NFTs

Despite the new, volatile, and unregulated nature of NFTs, insurance companies are weighing the risks against the opportunities to capitalize on the fastest-growing new lucrative financial tool.

NFTs tend to be very popular among the younger generation, and given the role insurance plays when it comes to the risk of loss, NFT holders can provide new potential customers. 

In 2022, it will be the millennials and Z generations that will drive the NFTs market. However, one has to take a Klever decision to select NFTs, as there are scores claiming to be rare. 

Jagdish Kumar

Klever Writer

Follow me on twitter.com/TokenBharat

Disclaimer: This article is only for educational purposes. It is not investment or financial advice, always do your due diligence, before investing in any crypto project.

Listen to the article

Listen to the article in English
Listen to the article in Portuguese
Listen to the article in Spanish
Listen to the article in Russian

Download Klever App

Tags: nft 2022NFTs
Previous Post

Klever Weekly Newsletter – December 24

Next Post

Crypto bill may put India on the global map

Jagdish Kumar

Jagdish Kumar

Reporting & writing on crypto & blockchain for the past few years. A content eagle, journalist & writer with a passion to explore new technologies that can change human lives. Joined Klever to make Crypto simple. Follow me on Twitter @TokenBharat or email me at jagdish@klever.io

Related Stories

Time to start using K5: learn how to migrate to the new Klever wallet app version

Time to start using K5: learn how to migrate to the new Klever wallet app version

by Maluh Bastos
January 31, 2023
0
7.3k

KleverChain’s launch in 2022 was one of the biggest accomplishments for the Klever Ecosystem.  Klever’s very own blockchain is bringing...

Use cryptocurrency and blockchain for transparent and secure voting

Use cryptocurrency and blockchain for transparent and secure voting

by Warren Manuel
January 30, 2023
0
7.3k

The integrity of democratic voting systems is crucial for the functioning of a healthy democracy. In recent years, there has...

Choosing Klever Wallet, K5 is a smart decision

Choosing Klever Wallet, K5 is a smart decision

by Isabela Bellumat
January 30, 2023
0
7.3k

As a decentralized crypto wallet, the Klever Wallet offers all the necessary tools for crypto enthusiasts, including storage of assets,...

Introducing K5, The Crypto Wallet Of The Future

Introducing K5, The Crypto Wallet Of The Future

by Klever
January 26, 2023
0
7.4k

KleverOS, the revolutionary Klever crypto wallet operating system that powers K5, ushers in a new era of crypto wallets. Today,...

Next Post
India Crypto Bill

Crypto bill may put India on the global map

How KleverChain will change the way we Blockchain

Download Klever Wallet Download Klever Wallet Download Klever Wallet
ADVERTISEMENT

Recommended

Ethereum

Coin of the Week: Ethereum (ETH)

November 14, 2021
7.5k
Tron (TRX)

Coin of the Week: Tron (TRX)

May 19, 2022
7.5k

Popular Story

  • Stand a chance to win your share of 10,000 KLV

    Stand a chance to win your share of 10,000 KLV

    8334 shares
    Share 3334 Tweet 2084
  • Test drive Klever Wallet, K5 and Win 1000 KLV & 1 KFI

    7021 shares
    Share 2808 Tweet 1755
  • Bitcoin battles back from record losses to $21,000

    5914 shares
    Share 2366 Tweet 1479
  • Klever showcases its blockchain ecosystem on a Time Square billboard

    5358 shares
    Share 2143 Tweet 1340
  • K5 adds new blockchain and KleverSafe support in the latest Android version

    5070 shares
    Share 2028 Tweet 1268

Follow us on Twitter

Klever News

Join the Klever community
Growing together we are stronger.
Be sure to follow us on social media to stay up to date.

Categories

  • Announcements
  • Coin of the Week
  • Education
  • Exchange
  • Games
  • Global
  • Hardware Wallet
  • Market Updates
  • NFTs
  • Opinions
  • Sponsored
  • Wallet
Download Klever Wallet Download Klever Wallet Download Klever Wallet
ADVERTISEMENT

Recent News

Time to start using K5: learn how to migrate to the new Klever wallet app version

Time to start using K5: learn how to migrate to the new Klever wallet app version

January 31, 2023
Use cryptocurrency and blockchain for transparent and secure voting

Use cryptocurrency and blockchain for transparent and secure voting

January 30, 2023
  • Sponsored Content
  • Advertise
  • Contact Us
  • RSS Feed

© 2022 Klever News - Premium Crypto news & insights by Klever Finance.

  • Login
  • Sign Up
No Result
View All Result
  • Home
  • Global
  • Exchange
  • Wallet
  • Education
  • NFTs
  • Announcements
  • Opinions
  • Marketcap

Welcome Back!

Sign In with Google
OR

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Sign Up with Google
OR

Fill the forms below to register

*By registering into our website, you agree to the Terms & Conditions and Privacy Policy.
All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
-
00:00
00:00

Queue

Update Required Flash plugin
-
00:00
00:00
Go to mobile version