6 NFT Trends to Watch Out For in 2024: Insights from Anndy Lian

6 NFT Trends to Watch Out For in 2024: Insights from Anndy Lian

Non-fungible tokens (NFTs) are a true yin and yang within the Web3 world.

For all the fun in trading images — and trading on the value of images — that happens, there are plenty of compelling use cases that are likely to enter the wider world.

Techopedia spoke to governmental advisor and author Anndy Lian about his take on the trajectory of NFTs and their impact across various industries, informed by his address this month at NFT NYC 2024.

NFT.NYC is a conference that brings together the global NFT community and web3 professionals in New York City.

Anndy’s session was on April 4, 2024, at the main stage. His topic was titled “NFT Revolution 2024: Trends & Future Predictions” and followed his speech last year called ‘Think Bigger.’

Following his speech, Lian, who is also the author of NFT: From Zero to Hero, outlined his thoughts to Techopedia, focussing on trends, use cases, and the future shape of the market.

Key Takeaways

  • In a conversation with Anndy Lian at NFT NYC 2024, the trajectory of NFTs and their broad impact across industries was discussed.
  • Key trends to watch this year include RWA NFTs, NFT ETFs, AI NFTs, the rise of memes and collections by renowned artists, and ‘photographs as NFTs’.
  • The ERC 404 Hybrid token standard will blend fungible and non-fungible token features.
  • Solana and Binance Smart Chain are pivotal in the NFT boom, with mature infrastructure and community support

6 Key NFT Trends in 2024

RWA NFTs: Digitizing the Physical World

Real-World Asset (RWA) NFTs allow tangible assets like real estate, intellectual property, and fine art to be tokenized into liquid digital formats.

This trend is not just about tokenization but about improving accessibility and creating new markets and liquidity opportunities

For instance, Nexum.ai is leveraging NFTs to revolutionize supply chain financing, showcasing the technology’s practical benefits in traditional industries.

NFT ETFs: Diversification and Institutional Involvement

NFT Exchange-Traded Funds (ETFs) are emerging as opportunities for investors. By offering a diversified portfolio of NFTs, these ETFs provide a level of exposure similar to institutional-grade assets. Backed by credible entities, NFT ETFs could democratize access to the NFT market, allowing for broader participation and investment.

AI NFTs

AI NFTs represent a fusion of artificial intelligence with the NFT ecosystem. Platforms like copx.ai are at the forefront, wrapping NFTs around AI trading tools. This integration makes NFTs more accessible and functional, providing users with exclusive market insights and trades, thus adding a layer of intelligence to the NFT experience.

Meme with a Twist

The Squid Bros, a collection of 10,000 PFPs by SquidGrow created by renowned artist Mike S. Miller, known for his work with Marvel, DC, and Game of Thrones, exemplifies the power of community and intellectual property.

This project demonstrates how strong community backing and robust IP can elevate a meme-inspired NFT collection to new heights, creating value and engagement.

Photographs as NFTs: Capturing Authenticity

Seed.Photo’s selective process has led to a unique collection of photographs minted as NFTs. This approach appeals to major brands seeking authenticity and artistic value.

By curating real photographs as NFTs, Seed.Photo is setting a new standard for quality and exclusivity in the NFT marketplace.

The ERC 404 Hybrid Token Standard

ERC 404 marks a significant innovation in the blockchain world, blending the versatility of fungible tokens with the uniqueness of non-fungible tokens, and offering unique investor opportunities.

This hybrid approach could potentially unlock new functionalities and use cases for digital assets, making them more adaptable and valuable across various applications.

Solana & BNB: The Blockchain Networks Fueling the NFT Boom

Lian emphasized the role of blockchain networks such as Solana and Binance Smart Chain in the current NFT boom, which offer the necessary infrastructure and community support for the development and trade of NFTs.

He praised the chains for these features:

Solana

Lian said:

“It has a high throughput and low fees for NFTs, making it an ideal environment for NFT creation and trade.

 

“It supports a fully decentralized on-chain experience for artists and collectors, with features like auctions and perpetual royalties coded directly into the NFTs.

 

“Solana’s NFT standard and minting program offer extreme customizability, backed by a suite of tools which empower creators to launch their NFT storefronts and engage with their audience directly.”

BNB Chain

Lian said:

“BNB Chain offers Ethereum Virtual Machine (EVM) compatibility, which allows for the utilization of Ethereum’s well-established standards and tools.

 

This compatibility has positioned them as a competitive alternative for NFT creators, especially those seeking lower fees and a supportive community.

 

“Their marketplace provides a high liquidity platform for users to launch and trade NFTs, further bolstered by multi-chain support for seamless transfers between BSC and other networks.”

Lian added that a synergistic ecosystem for NFTs is important but that “Solana and BNB Chain have each carved out a niche, offering distinct advantages that cater to the diverse needs of the NFT community.”

The Bottom Line

Anndy Lian’s insights at NFT NYC and Techopedia reflect the power within NFTs to redefine ownership and artistic expression in the digital realm.

The speculators come first, but as technology and adoption continue, real purposes evolve, and 2024 will likely be no exception.

 

Source: https://www.techopedia.com/nft-trends-insights-from-anndy-lian

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

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The Future of Privacy in Web3 | DeCC @ NFT.NYC | Wendy O, Anndy Lian, Tor Bair, Gav Blaxberg

The Future of Privacy in Web3 | DeCC @ NFT.NYC | Wendy O, Anndy Lian, Tor Bair, Gav Blaxberg

At the forefront of the Web3 revolution, DeCC @ NFT.NYC convened a panel of visionaries to unravel the complexities of privacy in a blockchain-powered world. Moderated by the influential Wendy O, the panel featured Gav Blaxberg of Wolf Financial, Tor Bair of Stashh, and Anndy Lian, a best-selling author and thought leader.

The event underscored the attendees’ commitment to privacy, with many overcoming significant obstacles to join the conversation. The introduction of “Decentralized Confidential Computing” (DCC) marked a pivotal moment, signaling a shift towards a narrative that champions confidentiality in the transparent realm of blockchain.

Panelists shared their diverse experiences, from advising on crypto regulations to pioneering encrypted NFTs, all converging on the consensus that privacy and security are the bedrock of a sustainable Web3 ecosystem. The dialogue navigated through the evolution from Web2 to Web3, highlighting the persistent challenges and the urgent need for technological alternatives that empower users with control over their data.

A key distinction emerged between privacy and security. While privacy is often viewed as a luxury, security is a fundamental necessity. The irreversible nature of lost privacy was a sobering reminder of the stakes involved. Personal stories from the panelists brought to life the real-world consequences of security breaches, emphasizing the importance of vigilance in the digital age.

The session concluded with an engaging Q&A, where a question about AI’s role in privacy and security sparked a nuanced debate. AI’s dual potential to both compromise and enhance privacy was acknowledged, with a call for responsible AI development that aligns with public interest.

DeCC @ NFT.NYC was not just an event; it was a clarion call for collective action towards a future where privacy is a standard, not an afterthought. The insights and passion of the panelists inspired attendees to advocate for privacy and champion security in the digital domain.

As the narrative around DCC unfolds, the event stands as a testament to the ongoing efforts to protect our digital lives. The journey towards a more private and secure digital world is just beginning, and every step taken is a step towards a better future for all.

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

j j j

NFT.NYC 2024/ Main Stage/ 4 April – NFT Revolution 2024: Trends & Future Predictions by Anndy Lian

NFT.NYC 2024/ Main Stage/ 4 April – NFT Revolution 2024: Trends & Future Predictions by Anndy Lian

Anndy Lian took the stage at NFT.NYC to share his insights on the evolving landscape of non-fungible tokens (NFTs). His speech, a blend of personal anecdotes and industry analysis, provided a compelling look at the future of NFTs.

The Journey from Skepticism to Mainstream

Lian reminisced about the early days of NFTs, when his predictions were met with skepticism. Yet, he stood firm, and today, the diverse utilities of NFTs vindicate his foresight. His books, “Blockchain Revolution 2030” and “NFT: From Zero to Hero,” have not only topped sales charts but also demystified NFTs for the masses.

NFT Revolution 2024: The Trends Shaping the Future

Lian highlighted several key trends poised to shape the NFT space:

1) Hybrid Protocols such as ERC404: The convergence of fungible tokens (FTs) and NFTs creates new possibilities for asset management and ownership.
2) Real-World Asset NFTs (RWA NFTs): NFTs are transcending digital art, impacting sectors like real estate and supply chain management, making transactions more transparent and efficient. Nexum.ai is another example he gave on how they use supply chain financing with NFTs.
3) Institution-Backed NFTs: Major institutions are exploring NFTs, wrapping products within them, and providing a layer of credibility and security to the digital assets.
4) AI-Enhanced NFTs: Beyond generative art, AI is being leveraged to offer membership access and training products, signaling a move towards more practical applications. Copx.ai was the platform he quoted.
5) Meme-Inspired NFTs with a Twist: Projects like SquidGrow demonstrate the power of community and intellectual property (IP) in driving the value and utility of NFTs.
5) Photography NFT Marketplaces: Real photographs as NFTs offer a unique taste and authenticity that could attract big brands and create new opportunities for photographers. The example he shared about Seed.Photo is good sample.

Final Thoughts: The Road Ahead

Concluding his speech, Lian stressed the need for security measures to foster consumer adoption. The goal is to integrate mainstream buyers into the NFT ecosystem, ensuring robust communities and sustainable revenue streams.

Anndy Lian’s speech at NFT.NYC was more than just a presentation; it was a clarion call for the industry to embrace the NFT revolution with open arms and a cautious mind. As we look towards the future, it’s clear that NFTs are not just a fleeting trend but a transformative force reshaping the digital economy.

This article aims to encapsulate the essence of Anndy Lian’s speech, offering readers a glimpse into the potential trajectories of NFTs. For those looking to go deeper into the subject, Lian’s books and social media channels are good references in the realm of digital assets.

 

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

j j j