5 Cryptocurrency and NFT Predictions for 2022.
Cryptocurrencies and NFT have created many “blockbusters” in 2021. Many believe that digital currency is a disruptive technology that changes the world, creates new economic types and more convenient financial payments. Market volatility, involvement of major businesses, venture capital flows, context and regulations could be the hot spots for cryptocurrencies this year. In this article, let’s explore some predictions about Cryptocurrency and NFT in 2022.
Most internet users have heard about NFT — the irreplaceable token that took the world by storm in 2021. NFT is unlike any other before thanks to its uniqueness. The technology emerged as a way of recording blockchain “ownership” of a digital work of art, such as a song, a video clip, an avatar…
- Cryptocurrency will be accepted widely as a form of payment.
According to Neil Bergquist, CEO and co-founder of the digital currency exchange Coinme, he said “We may see bitcoin growth overtake the dollar globally.” If bitcoin’s value continues to rise, more businesses will accept it as payment. In fact, amid inflation across all economies and a 2–3% drop in the value of the dollar, some companies have adapted to this new form of payment in some particular situations. From hedge fund managers to Starbucks executives, everyone is taking steps that could impact how cryptocurrencies are used this year.
2. NFT opens up new opportunities for property ownership
NFT, which uses blockchain to let users get ownership of digital assets, is growing in popularity in the world of art and collectibles. The Bored Ape Yacht Club, which has over 10,000 drawings of monkeys in various outfits, is one of the most prominent NFT collections in 2021. However, the potential of NFT goes far beyond such virtual works of art. It can be used to buy and sell virtual land in the game, license and publish music, fashion products, and even books.
NFTBooks is an online reading platform that has been ahead of the blockchain trend by publishing each book in the form of NFT. This has broken the limits of traditional books and raised books to new heights when combined with technology. Authors, readers and users will have the best experience when using the service at NFTBook
3. Bigger hacks and more ransom demands
Decentralized finance (DeFi) is expected to become a favorite target for cybercriminals in 2022, according to several experts. It’s a young but growing sector that makes use of bitcoin and independent financial transactions with central government agencies or organizations. Instead of relying on traditional banks or credit cards, people can connect directly to DeFi products on a decentralized network. Since DeFi is so new and booming in developed markets, it becomes a lucrative target for experienced criminals who have carried out similar hacks before.
4. The birth of stablecoin
Bitcoin and other cryptocurrencies get everyone’s attention because of their volatility. The solution to this problem is stable coins — a group of crypto-currencies that are pegged to specific assets that reduce their price volatility. Stablecoins can play an important role in making crypto-currencies popular and we can easily use them to conduct common transactions in our lives.
5. More cryptocurrency regulation
US lawmakers see cryptocurrency as a big and important issue. In December 2020, the executives of 6 crypto companies in the US were convened to discuss potential directions for future crypto regulation. Governments around the globe also need to work with industry players to create legislation that protects consumers and promotes innovation.
The cryptocurrency along with the NFT is still developing and will continue to change in ways that we can not yet envision. There is one thing for sure: cryptocurrencies will be a significant industry in our future.
