Closing Thoughts
By: John G. Izaguirre
Tags: Metaverse, Cryptocurrency, Money, Economy, Nft

NFT as an Industry

If somebody told you that “non-fungible tokens” will become the top trend in 2021, you’d be forced to ask whether they feel ok or doing some serious DMT.

2021 was the year of NFT. If you still doubt it, just have a look at the figures:

NFT transactions have soared from $40 to $338 million, which is an 8x increase in two years

The most expensive NFT sold in 2021 was a Bored Ape Yacht Club artwork purchased for $104 million

As of December 2021, the total value of NFT sales amounted to $147 million in the art segment

From CyberPunks and Bored Ape Yacht Club to NBA Top Shot, the NFT craze has taken the whole world by storm, involving everyone in the never-ending discussion about crypto, digital art, and opportunities this duo bears for the world.

While some might consider NFT enthusiasts insane, others view them as forward-looking and witty entrepreneurs who caught on the growing trend and managed to make a fortune on their investment.

The Rise of Metaverse

Consider buying a property? You might be late to come as buying online property in metaverse has become more profitable than purchasing real-estate somewhere in Europe.

Metaverse represents a set of domains where virtual and actual worlds co-exist. The NFT-fueled real estate boom aims to transform virtual experiences and make them more real than ever before.

Soon we will not differentiate between real stores in the nearest shopping centers and virtual ones based in a metaverse.

Mana, the primary cryptocurrency of the virtual world Decentraland, has sold a significant share of its property for $1 million. And here is more to come.

If you consider investing in property in the upcoming year probably, you should consider virtual ones. The rise of metaverses and NFT might provide you with a solid income that will turn into a profitable endeavor.

Chinese CBDC

As we all know, there is a thin line between love and hatred.

Chinese centrally backed digital currency (or as it is often referred to as CBDC) was rolled out in several big cities on a test basis in 2021. Although previously central banks were against everything concerning crypto, today they create their own cryptocurrency and integrate them into all bank processes.

The country’s approach to innovation is nothing but impressive. The authorities believe technology is becoming far more important than money, at least in its traditional meaning. The transition to crypto is expected to bring numerous benefits for the country and help it become a crypto pioneer in its field.

At the end of October 2021, Chinese CBDC was used to conduct transactions estimated at $9+ billion. The numbers are encouraging, and I expect to bring more state cryptocurrencies to the world in the upcoming year.

El Salvador and Bitcoin Tender

If you are interested in crypto and haven’t seen the news, you must be living on an island — El Salvador became the first country in the world to use Bitcoin as legal tender.

What’s more, El Salvador’s President has issued a plan to boost the crypto industry. The crypto plan involves building a so-called Bitcoin city, which will include residential and commercial areas as well as a fully functional airport.

The plans are bold, but this practice might turn into an exciting experiment, which would attract visitors from all over the world willing to observe how Bitcoin functions in such an environment.

Who knows, perhaps, next year, we will see more crypto cities emerging in different parts of our planet.

Ethereum as an Ecosystem

Bitcoin is undoubtedly the first and most popular cryptocurrency in the world. When asked about crypto, even a child would name Bitcoin in the first place.

However, wise crypto investors would keep an eye on Ethereum as it might outperform Bitcoin in the upcoming month. In November 2021, ETH price soared again, reaching $4,800, the highest point over the last several years.

If such a tendency is preserved next year, Ethereum will beat Bitcoin in this never-ending battle. I personally have never seen a battle or competition here but rather long-life cooperation. Let’s aim for this together as a community!