The continued growth of the digital asset over the course of 2021 has left little doubt that Blockchain technology is the future. Moreover, plenty of evidence suggests the Blockchain technology adoption rate is progressing at a faster pace.
While the total market cap of Blockchain technology was more than $3 trillion, it was fueled by the continued warning of institutional investors both towards Bitcoin and Altcoins.
With the start of 2022, NFT was introduced in the market, which fueled its adoption as the major driver. As a result, the growth of NFTs and Metaverse became the headline trends.
Seeing how Blockchain technology is growing its roots in the other industries, we thought about looking into a few trends that might decide where the technology is headed.
In this article, we will discuss the Blockchain technology trends to see what we can expect from 2022.
Blockchain Trends To Watch In 2022
Blockchain was one of the hottest in 2021. With Blockchain-based assets going mainstream, a greater spotlight has been put on the Blockchain use cases across industries and sectors of society.
The potential of this technology is limitless. But at the same time, it has to address a number of shortcomings. The shortcoming includes –
- Security.
- Transparency.
- Trust and ownership.
Most people link the Blockchain with the Cryptocurrency. But this craze that has long been sorted out. However, today, the importance of Blockchain technology doesn’t come from Cryptocurrencies but the real-life implications in the business world.
One of the products of Blockchain that is helping it grow is NFTs. So with Blockchain on everyone’s lips, we have put together a list of top trends you must watch in 2022.
GameFi
Globally, the gaming industry is expected to reach $219 billion, and Blockchain will continue to be one of the major players. For instance, it is because of the Blockchain that players can now earn from playing video games.
With the integration of Blockchain, the game has been converted into an NFT gaming industry. All the in-game items can be converted to NFTs and exchanged for real cash.
The combination of the thrill of traditional gaming and the possibility of earning from winning matches has clearly struck a chord in players.
However, there is one catch, if you want to play Blockchain-based games, you first need to invest.
If you want to change your gaming experience by earning while playing, invest in NFT gaming via Bitcoin Era Software and start earning rewards.
NFTs
From mystery to mainstream – That is how you can define the NFTs.
NFTs had a remarkable run in 2021, and it is expected that they will continue the marathon in 2022. Despite the slowdown during the end of 2021, the NFT market is again gaining pace.
Today, NFTs have been largely associated with gaming and digital art. It has given digital artists ownership over their digital art, buying, selling, and making a profit.
With NFTs touching pretty much every aspect of the industry, we can expect to see a rise in the NFT marketplace and greater adoption.
Regulation And Taxations
With interest in scrutiny, cryptocurrencies have gotten financial institutions’ attention. Although the government draws no clear line in regulating Cryptocurrencies, it is more than likely that the regulatory argument will heat up in 2022.
While the USA has already passed strict regulations on stable Cryptocurrencies, more governments will participate in the Blockchain and Crypto movement in 2022.
The Rise of Metaverse
For many years, we have only discussed the possibility of merging real-life and virtual life. However, there was no technology with the potential to do so.
But with the Metaverse concept, we might actually live a virtual life in the real world or real life in the virtual world. Sounds confusing, right. Well, that’s how close we are to merging both worlds.
Final Words
Blockchain is undoubtedly one of the most advanced digital technologies. It offers improved security to your digital asset, brings transparency to transactions, immutability to data, and accessibility to conventional networks.
The notable trends that might impact the market include the eco-friendly approach of the Blockchain.
Furthermore, adopting Crypto as legal tender will also make it a prominent highlight in the Blockchain space.
