Top NFT Projects 2023

If you’re looking ahead at what NFT trends and projects to be on the lookout for in 2023, you’ve come to the right place. In this post we’ll go through an overview of the current market and give a holistic rundown of projected trends for the new year. 

Current Snapshot of the NFT Market 

Two years after the NFT boom, the market has had its difficulties. After experiencing a peak in sales in January and February 2022, the NFT market has seen a sharp decline in the total volume of NFT sales and the number of buyers and sellers on the market. This suggests that collectors are currently not interested in taking great risks when investing in new and upcoming NFT projects surfacing on platforms and prefer instead to trade in the secondary market, where prices remain higher.

The current performance of NFTs has caused polarizing debates. On the one hand, NFT skeptics maintain that the lack of any inherent value of NFTs will determine their doom. On the other hand, defenders of NFTs and crypto claim that the NFT market is normalizing, meaning that the downturn of the market should be read as a sign of cyclicality and that the market will recover and even flourish. Regardless, the NFT market continues to grow and is expected to do the same in the future. So far, the majority of NFTs seem to be digital artwork and collectables, but the future of blockchain is limitless. Healthcare services and the real estate industry have even penetrated the blockchain market. Looking to 2023, we’ll go through what to look out for in this emerging market. 

Top NFT Projects 2023

  1. Social Media NFTs: TikTok, Instagram, and Twitter

As blockchain technology advances and consumer interest in digital assets increases, many Web 2.0 consumer tech firms are bound to penetrate the Web 3.0 market. We are seeing this shift with social media platforms. Creators frequently use social media to communicate directly with their fans and to build their audience to generate interest in their work, promote events, and even educate the public about NFTs. It takes time for artists to gain a following and hype around their projects, but it is critical to their success. 

One of the first instances of NFTs in the social media space was in October 2021 when TikTok launched their NFT “TikTok Top Moment,” offering a fresh take on the digital art trend. TikTok planned to use NFTs to empower the TikTok creator community and give recognition and compensation to artists and content creators. This NFT project allows fans to own culturally significant TikTok events. There’s no indication yet if the social site will continue to curate NFTs on the platform or if any user will be able to launch and sell NFTs on the site freely. However, it sparked other social media platforms to engage more closely with NFTs, with Instagram and Twitter following suit. 

Instagram users will soon be able to create, display and sell NFTs on the platform. During its Creator Week 2022 event, Meta announced a new feature that enables creators to make digital collectibles and sell them both on and off Instagram. Users on Instagram will be able to connect their Solana and Phantom wallets and mint NFTs on the Polygon blockchain

In October 2022, nearly a year after TikTok’s NFT drop, Twitter announced that it will let users buy, sell, and display NFTs directly through tweets in partnership with four marketplaces. The integration, called NFT Tweet Tiles, displays the artwork of an NFT in a dedicated panel within a tweet, and includes a button to let users click through to a marketplace listing.

Staying up to date on the NFTs projects within TikTok, Instagram, and Twitter is a great way to keep up with current trends and invest in a relatively low-risk environment: Instagram announced they won’t charge fees to create or sell NFTs until 2024. Instagram will also provide creators with an end-to-end toolkit and guide them through the whole process. NFTs would not be the same without social media; social media platforms act as the common ground between creators and collections. In 2023, keep your eye out for new NFT integration on these platforms.

  1. NFTs: New Generation of the Music Industry 

By 2025, the NFT music industry is expected to reach over $80 billion in capitalization. Music-related use cases for Web 3.0 technologies are piling up: these technologies help independent artists regain control of their art and compensation by removing middlemen who currently have all the control, like Spotify and Apple Music. One article goes so far as to say “NFT music will soon put Spotify and Apple Music out of business.” NFT music streaming services function exactly how you think they would: by connecting music listeners to their favorite music via blockchain technology. NFT music consists of digital files of songs, backed by units of unique code that provide a secure record of ownership on a blockchain infrastructure. As music NFTs become more popular, the hype follows. Hundreds of music NFT projects are popping up on Twitter, creating what can be seen as almost a subgenre of NFT music.

The most notable artists that have joined the NFT music stage are Grimes, 3LAU, Steve Aoki, Deadmau5 and Kings of Leon. In a short notice auction last year, Grimes sold a collection of digital artworks embedded with poems for almost $6 million, proving her music NFT project to obtain the most significant profit. 3LAU’s sold 33 Ultraviolet albums via NFTs in three days, which led to a whopping market cap of $11.7 million. In addition, the digital assets enticed fans by offering generous rewards, including special edition vinyl, unpublished tracks, state-of-the-art merchandise, and concert tickets.

The sky seems to be the limit for NFT Music. Why not purchase an NFT from your favorite artist and potentially partake in some unique experiences? Follow updates from the music-specific NFT marketplaces such Catalog and Sound.XYZ, Async Music, and Royal to keep in the loop on all things NFT Music. 

  1. Second Round NFT Drops: BAYC x Round21 Basketball

In some NFT drops, owning a previously minted NFT in the collection can give you elite access to the next drop. For instance, your NFT doubles as your access to pre-order a limited edition collectible item, in this case it was a BAYC x round21 physical basketball. 

Yuga Lab’s Bored Ape Yacht Club (BAYC) has cemented itself as one of the most successful NFT projects. Lots of NFT projects want to build hype, but what about a long-lasting brand? BAYC has been able to do just that, building a brand with incomparable popularity. The Bored Apes designs are iconic: each ape has its unique traits that set them apart, yet they follow a core set of shapes that define their look as a Bored Ape. They are prized not only because of their value and social status, but NFT owners maintain the ability to commercially exploit their NFT however they like, as the owners retain intellectual property rights. Yuga Labs says they “want to be a Web 3.0 lifestyle company,” and they are not stopping. The impact of BAYC is going above crypto and NFT and beyond the owners of the original Bored Ape. 

Yuga Labs injects fresh ideas into the community to rejuvenate it. One of their collections to be on the lookout for is BAYC X Round21 basketball. This collection itself is a NFT video of a bouncing basketball that has been etched with the BAYC logo, a close up of an apes face, a group of bored apes and an image of an ape and his dog enjoying a sunset. In total, there are 4,500 NFTs in circulation and the floor price at the time of this article’s publication is .125 ETH. Users will need to own this NFT to purchase the next physical item. After nearly a year and a half of waiting, the BAYC quietly announced that NFT holders will be able to redeem their second physical item in 2023. Definitely follow BAYC on Twitter and Discord for up to date information on this upcoming drop.

  1. NFTs in Healthcare

The pandemic has accelerated the development of digital solutions, and blockchain and NFT have found their place even in the medical sector. The blockchain presents a new approach to data storage that could profoundly impact the healthcare sector. Medical data has two major issues: it holds intellectual property and contains royalties that must be paid. The decentralized nature of the blockchain offers a pathway for patients to own their medical records, giving them control over who can view their data or profit from it. 

A blockchain-based medical services marketplace developed. Aimedis is the first blockchain-enabled healthcare platform, launched in 2021 for cardiology patients containing ECG information. Aimedis believes that every human being deserves access to a proper, safe and up-to-date medical treatment. Their platform can store, transfer and validate all kinds of medical data, connect to medical devices and even provide remote supervisions to medical professionals, institutions and other patients. 

As delivery of healthcare continues to evolve and become more personalized, a supportive and intuitive solution is needed for providers, facilities and patients, and the blockchain provides this kind of solution. If you’re interested in increased transparency regarding your healthcare data, exploring healthcare NFTs is a great place to start.

  1. Real Estate NFTs: New Kid on the Blockchain?

By traditional methods, it can take weeks and even months to complete a real estate transaction. Even with an agreement in place, signing and exchanging contracts can take a couple of weeks. With NFTs, transfers of assets are secure and almost immediate. Each blockchain ledger provides a history of every step and transaction for every asset. If you buy an apartment with NFT asset properties, you can check every previous buyer, investment, action, legal dispute, payment and more. Using crypto can also cut out the traditional middleman, saving money and time.

Entire asset tokenization cannot work unless the actual property deed is turned into an NFT. This is still incredibly difficult to accomplish due to the regulatory environment surrounding real estate investments, although steps continue to be taken to push this forward. Real estate NFTs are very new, and it’s difficult to really gauge their strengths and weaknesses. There are currently a lot of experiments taking place that will help investors to better understand where NFTs can and cannot be applied within the real estate industry. Few companies use NFT in real estate yet, but it is a new trend that will soon enter the masses due to its flexibility, cost-effectiveness, and several other advantages. One company to be on the lookout for is Aetsoft. They develop custom blockchain products for multiple industries and verticals and are ready to create and launch a blockchain-based solution for virtual or physical real estate.

Conclusion

New ways of using the blockchain are on the rise, so make sure to stay up to day on where this emerging technology is heading next. If you’re interested in projects from this past year, check out our article, Top NFT projects 2022. 

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