Development History, Trends, and Future Outlook of NFT

NFT has gradually entered the public eye since the beginning of 2021, and its evolution can be roughly divided into seven stages: star cards/digital art, avatar OG, generative art, GameFi, PFP avatar parties, decentralized NFTs, and metaverse games. Each stage has representative projects.

By summarizing, we can conclude several characteristics and trends in the development of NFTs:

• Granted more functionality
• Pursue originality and scarcity
• Gradually moving towards the mainstream
• Bottom-up, community-driven
• Social attributes are becoming stronger
• Unfair Minting
• Tend to homogenization

Five Directions for Future NFTs Worth Watching:

• Composable NFT
• xFi( includes SocialFi, CreateFi, LearnFi, etc. )
• Pricing mechanism and liquidity solutions
• Decentralized Identity ( DID )
• Other innovative forms ( such as POW NFT, interoperable NFT, growth-type NFT, etc. )

NFT is evolving from being purely collectibles to having more functional roles, and will play an important role in areas such as gaming, social interaction, education, and identity in the future. At the same time, it is necessary to address issues such as pricing and liquidity to achieve broader applications. Overall, NFTs are still in the early stages, with significant potential for future development.