This week’s Google trends report showed that searches for “NFTs” surpassed searches for “crypto” for the first time.
How did they get so popular?
NFTs became mainstream this year after former Twitter CEO Jack Dorsey auctioned his first tweet as an NFT for charity. Soon after, celebrities like Paris Hilton, Snoop Dogg, Doja Cat, and chef Martha Stewart started experimenting with the technology.
Formed alliances: Athletes Naomi Osaka and Simone Biles have partnered with Autograph, a sports-focused NFT platform co-owned by American footballer Tom Brady. Brady sees Autograph as a way for fans and athletes alike to build communities.
Basketball legend recently Michael Jordan teamed up with Solana, the second-largest crypto after Ethereum that powers NFTs, to create a platform similar to Brady’s called “Heir”.
Gaming and NFTs: NFT has also been incorporated into several blockchain-powered games. For example, Axie Infinity uses a play-to-earn system that allows players to trade NFTs won in-game. The tokens earned can then be exchanged for traditional currency.
What does this mean for you?
Mainstream interest in NFTs will incentivise developers to create new and more accessible services to use them. Meanwhile, play-to-earn games may be of interest to those seeking to earn money in their free time.
If you’re considering giving it a shot, consider starting with Metaverse Magna (MVM), Africa’s first play-to-earn platform. MVM is for everyone, so even if you’re not an avid gamer, it's worth a try.