5 of the biggest trends in the metaverse, blockchain gaming and NFT space right now

2022 has been an exciting year in the digital world, and with the evolution of the Metaverse now underway and NFTs becoming one of the hottest topics being discussed, suffice it to say that we have well and truly moved into the digital age.

With so much change going on, it can be hard to keep up with what’s happening and what you need to know about it all – but there are already some clear trends emerging that will be worth watching over the the coming months and years. Here we take a look at five of the biggest.

Cryptocurrency and blockchain

The global appetite for cryptocurrency is nothing new, and despite market volatility that resulted in some huge price crashes this year, the number of people using trading platforms like BitIndex Prime has continued to grow. It has become abundantly clear that cryptocurrency is here to stay, and as the Metaverse moves forward, it will become even more important to brands and businesses, as well as individual investors and traders.

The Metaverse and blockchain games could be set to merge within the next year, creating decentralized networks based on separate chains of interacting blocks, which could increase the availability of branded items and take them beyond just the most popular virtual worlds .

With crypto almost universally required to purchase NFTs, virtual real estate and the like, and their blockchain technology becoming highly sought after, their popularity is likely to rise to never-before-seen heights.

Brand engagement

While the Metaverse is a long way from being complete, virtual worlds are already popping up all over the place, and users are embracing them wholeheartedly. With this in mind, it’s clear that luxury brands of all stripes need to follow suit and devise a renewed strategy that focuses on the Metaverse and the many ways it can be leveraged to their advantage.

We’re already seeing some of the world’s biggest and most sought-after brands dip their toes in the water, and from launching crypto concept stores to creating NFTs, it seems there are few limits to what’s possible. Over the next year, brand adoption – especially in luxury spheres – will become more widespread, and the way we shop and consume may soon change.

Roblox

An online gaming platform and game creation system that allows users to program their own games in addition to playing those developed by other users, Roblox has been making waves in the tech world lately. As gaming continues to move towards a more multi-layered experience that goes beyond just playing and includes web surfing and socializing, Roblox has proven to be one of the most forward-thinking companies in its field and has gained immense popularity among users – but they’re not the only ones who want a piece of the Roblox pie.

We’ve already seen some big name collaborations with the likes of Gucci partnering with the platform to create its ‘Gucci Garden’, where it showcased a number of its hero products in digital avatar, and it’s paved the way for many other notable partnerships to come.

Music and entertainment

Virtual music events via platforms such as Roblox and Fortnite are also on the rise and have given musical artists and performers a new way to reach and connect with their fan bases. Having gained momentum during the pandemic at a time when physical concerts and shows were off the agenda, many continue to take advantage of the opportunity to perform for fans who might not otherwise have had the chance to see them live, all while giving them a authentic experience that makes them feel like they are really there in the same stadium.

Musical NFTs have also seen huge growth this year, providing an alternative source of income for artists and allowing them to sell their EPs and albums directly to fans without having to rely on record labels and streaming platforms.

Meeting

As we mentioned, major luxury fashion brands like Gucci have been some of the fastest to embrace the Metaverse, cryptocurrency and the digital world as a whole, with some exciting projects coming out of unique collaborations that are changing the way we shop.

Besides Gucci’s foray into Roblox, we’ve also seen Philipp Plein launch the world’s first crypto concept store in London, while Louis Vuitton launched its own mobile game with 30 NFTs last year in honor of its 200th birthday.

Increasingly, we can expect to see customers shopping in immersive online environments, browsing photo-realistic images of garments and accessories and eventually even trying them on for size. It is certainly an exciting time for the world of fashion and we will see an increasing number of high-end brands looking to invest in the virtual space over the coming months and years in an effort to remain relevant and offer a high customer experience.