NFTs are one of the newest pieces of technology on the market, and they’re making waves in every single industry. Experts such as Ryan Hoggan think that NFTs will soon infiltrate every area of the world.
Ryan Hoggan was happy to share his predictions about NFT technology’s future. Ryan Hoggan is an entrepreneur, NFT collector/expert for people who aren’t familiar with the technology. We couldn’t have asked for more.
We’ll see More Collectors
Ryan Hoggan believes that there will be more collectors as the years go by. Hoggan expects to see more NFT collectors than ever before, despite the fact that we see more investors each year.
These casuals will lead to more casual projects, which will be cheaper to collect and buy. One of the main reasons this hasn’t happened yet (to a huge extent) is because the NFT collecting community is a little tight-knit and not as welcoming to newcomers as collectors as Hoggan would like.
He believes this will change but has already seen great ambassadors in form of social media personalities and influencers. celebrities bringing NFTs to the mainstream.
Artists will start transitioning
People are increasingly collecting art as a form of NFTs. Many artists have recognized the potential of NFTs and have started to create art specifically for NFT-related projects.
Ryan Hoggan expects this trend to continue because technology offers so many benefits to artists trying to make a living through their art. This will likely result in more NFT collectors, as their favorite artists will be creating NFTs.
More Celebrity Projects
We’ve already seen a few celebrity projects and even an NFT project based around celebrity signatures. These signatures include those from The Weeknd and other sports stars.
Ryan Hoggan hopes to see more projects like this one after seeing the success of the project.
NFT Music Drops
NFT technology is used mostly for visual collectibles like art and signatures. However, musicians continue to release their music and albums as NFTs. A few artists have done this already.
Many musicians have already expressed their love for NFTs. Jay Z is one example. Just like traditional art, there are too many benefits with NFT technology, so it’s inevitable that musicians will start dropping their projects on the blockchain.
Legitimate Legal and Medical Uses
One thing that we haven’t seen utilized as much as experts like Ryan Hoggan would like are smart contracts. These contracts can be used for any purpose and are as secure (if not better) than traditional contracts.
These contracts can be used in real-estate or other legal fields. Ryan Hoggan believes that blockchain technology is the most secure in the world. This makes it possible for sensitive documents such as medical documents to be stored on the Blockchain as NFTs.
