Despite Crypto Winter, Here’s Why NFT Collectibles Are Still Going Strong
Welcome to the first edition of Ditto PR’s Dive Special Reports, in which we dig into NFTs, Web3 gaming and other topics important in the crypto world. This first report is a breezy read at 413 words authored by Elijah Pollack, Associate, Content & Strategy here at Ditto.
The growth potential for NFT collectibles is huge. While the segment has its skeptics, projects are still being released by big names, and companies continue to adopt the technology and create vibrant NFT marketplaces.
Anyone who says NFT collectibles are on the decline are just plain wrong — some projects are selling out in minutes. Sir Anthony Hopkins, who has starred in movies such as The Silence of The Lambs and The Wolfman, sold out his entire 1,000 NFT collection in less than seven minutes (some of the NFTs granted buyers a Zoom call with the esteemed actor). Hopkins partnered with Orange Comet Inc., which claimed the sale to be the fastest in OpenSea history.
Two recent developments point to a bright future for NFT collectibles.
The elephant in the room: In huge news for the crypto community, Apple will begin to support the sale of NFTs using its payment services.
- Apple’s services are widely used around the world, with more than 1.6 billion devices currently in use. Even more impressive is that over a billion of those devices are iPhones.
- By introducing an NFT market, Apple is giving more than 1 billion smartphone users access to NFTs. Apple has a history of making its services easy and user friendly, so this could be the perfect way to give people a soft introduction to the world of NFTs.
Apple isn’t the only major company tailoring their services to NFTs. Meta, formerly known as Facebook, has allowed all its U.S. users as of Sept. 29 to connect their digital wallets to Instagram and share their digital “collectibles.”
- Meta said this “includes the ability for people to cross-post digital collectibles that they own across both Facebook and Instagram.”
- Users can freely post/share their NFTs with zero fees. Both the creator and owner can be displayed when the NFT is posted.
Both of these moves should provide a big boost to NFT digital art, with Apple supporting payments for them, and Meta supporting their display across its major social media platforms.
The future of NFTs
- Apple and Meta’s foray into the technology shows there is serious potential for NFTs to reach mainstream audiences.
- NFTs can be used for far more things than just showing ownership of digital art. For example, NFTs provide immutable ownership over assets, so people can theoretically hold their medical records, contracts and ID as NFTs on a secure blockchain (we’ll have a special report on these non-art use cases soon)
