The Future Trends of NFT: Evidence from Art and Brand Industries

Abstract

Non-Fungible Token (NFT) is a relatively new concept that has been a hot topic in the development of the field. The artwork generated in the form of NFT has made it an increasingly lucrative market, while there is also a lot of interest in the application of NFT to games, the metaverse and the financial economy. Therefore, this research paper will investigate the market development trend of NFT in the context of metaverse and the future outlook, especially to make a more detailed analysis of several important fields, taking art and branding industry as examples. Based on case studies and data analysis, NFT’s high pricing is attributed to a variety of factors, where the company's marketing approach is mostly creative and cross-pollinated to appeal to a wide audience. NFT has the ability to grow in the cultural sector as a whole, but it is challenging to sustain long-term prosperity due to the lack of NFT artworks and the likelihood of excessive speculation. Overall, this paper explores the value and potential of NFT using current research and accurate statistics, particularly in the areas of branding and the arts. These results shed light on guiding further exploration of NFT's market prospect and its own value realization.