What is the next era of NFTs?

The hype around NFTs isn’t going away anytime soon. Celebrities such as Paris Hilton and Simone Biles have jumped on the bandwagon, creating their own NFTs, and big corporations like Charmin and Taco Bell have joined in too.

There’s no way around it: NFTs are a game-changer. They allow for more members of the public to own art, a luxury that has typically been the preserve of the rich. Even art appraisal, which has traditionally been the domain of a limited group of aficionados, has evolved into a more democratic process.

NFTs are almost limitless in their use. Some predict that in 10 years all purchases will involve NFTs, and that smart contracts will eventually supplant legal paperwork. While various individuals believe NFTs to be a fad, or too esoteric to be adopted by many, major companies such as Meta (previously Facebook), Twitter, Reddit, and Visa are paying attention to this trend, and are working to ensure that they don’t lose out on the NFT boom.