As MetaBlox builds the global decentralized WiFi OpenRoaming network, NFTs continue to be an important component of the Web3 ecosystem it’s designed to support. Below are eight of the NFT trends that we believe will help bring Web3 into the mainstream through valuable and engaging features and use-cases.

1.NFT-Based Loyalty, Rewards Programs

One major NFT trend involves Web2 companies offering customers NFT rewards as part of their loyalty programs. Many such NFTs offer valuable utilities like staking opportunities or discounts at the associated businesses.

Starbucks’ Odyssey loyalty program, for instance, lets customers win Polygon NFTs called ‘Journey Stamps’ by visiting Starbucks. Odyssey releases new collections periodically, and holders can trade or even sell them on the Starbucks Odyssey marketplace.

The marketplace also lets users buy and sell Journey Stamps using credit cards. Since this doesn’t require a crypto wallet, the initiative demonstrates how mainstream companies, Web2 consumers, and traditional economies could seamlessly integrate with Web3 using NFT rewards programs.

MetaBlox will also be rolling out an NFT loyalty program for visitors to businesses hosting its Global WiFi OpenRoaming network. After checking into the network on the MetaBlox app, users will soon get the chance to claim collectible virtual stickers that will eventually be exported to a blockchain as NFTs. These collectibles, once on-chain, may also unlock other special utilities and benefits for holders, such as staking, airdrops, and more.

Etihad, an airline based in Abu Dhabi, is soon launching its own Web3 loyalty scheme through an NFT staking rewards program known as ‘Horizon Club’. Horizon club lets Etihad’s frequent flyers stake their NFT in exchange for flight miles that are redeemable for flights, hotels, and upgrades.

2.RWA NFTs

Real World Asset NFTs, or those that are redeemable for, or secure ownership of, valuable physical assets, also represent a growing NFT trend. While DeFi has allowed individuals to tokenize ownership of their existing assets for a while, some Web3 games such as Axie Infinity and Golden Eggs Wonderland are now offering asset-redeemable NFTs as prizes, while some NFT platforms offer them simply as investments.

Golden Eggs Wonderland is a Web3 game whose players breed virtual birds that can lay physical asset-backed golden eggs. The NFT certificates of such in-game assets are redeemable for the real thing — actual gold eggs. Axie Infinity uses a similar play2earn model that incentivizes competition through NFT rewards redeemable for cryptocurrency and physical merchandise.

Online marketplaces for asset-redeemable NFTs, such as LCX, are also emerging. LCX permits users to purchase tokenized diamonds with “1:1 ownership rights”, according to the platform’s website. Individuals can thus, in essence, purchase diamonds and other valuable assets by purchasing NFTs.

By deploying asset-exchangeable NFTs, these play2earn games and NFT platforms are developing a strong new connection with the real world; one that goes beyond simply connecting to real-world financial systems via security tokens or stablecoins. Moreover, asset-back NFTs allow individuals to invest more easily in typically illiquid assets like real estate or artwork. And when fractionalized into multiple NFTs, such investments are made more accessible to those with less to invest.

3.Miner NFTs

MetaBlox is leading the way in the development of miner-bonded NFTs which allow holders to earn the token rewards generated by a miner, which provides a WiFi network integrated with MetaBlox’s global OpenRoaming network.

Each MetaBlox NFT secures for its holder the rights to all mPoints yielded by a MetaBlox miner. These points will become convertible for ROAM tokens after the project’s token listing in 2024. The bonded miners are installed in premium locations that ensure optimal yields.

4.NFT Trading Cards

Another NFT trend this year are NFT-based trading cards, where non fungible tokens are exchanged via these physical-stand-ins. Phygicards is one project enabling the creation of physical cards that function as ownership certificates of particular NFTs. After getting a phygicard for your NFT, it can be scanned to access the OpenSea blockchain entry for properties, Token ID, edition, size and ownership.

5.Bitcoin Ordinals

A new type of NFT created by ‘inscribing’ the bitcoin blockchain took the crypto world by storm in February 2023. These bitcoin ordinals, as they are called, can be considered NFTs because they’re unique on-chain objects representing various (unique) types of media content. However they differ from conventional NFTs because of their greater on-chain presence and broader range of functions.

This is thanks to the use of ordinals, or number-naming theory. The protocol developed to create ordinals creates a numbering scheme for satoshis-the smallest unit of Bitcoin-and assigns them with specific identities. This allows the satoshis to be tracked, transferred and imbued with meaning.

Sats are numbered based on the order in which they are mined, and this number, by uniquely identifying a sat, is an ordinal number. So, for instance, the first 1,000 or 10,000 ordinals inscribed might become treasured collectibles.

In terms of utility, ordinal numbers allow for satoshis to stably identify user accounts or stablecoins and security tokens. Similarly, Bitcoin ordinals can identify content or art stored on-chain. Ethereum NFTs, on the other hand, typically hold the metadata or a pointer to art which is generally held off-chain.

6.AI NFT Generation Tools

2023 has also seen the arrival of NFT generation tools that employ AI to help users create and mint custom artwork on-chain. For instance, Binance’s new AI NFT generator called Bixel lets users both create and mint their unique NFT from the same platform, all while taking advantage of AI art generation:

1.First, users input a text prompt for the desired image

2.Then, Bixel generates four options. Creators can also upload a reference image to help guide the generator.

3.Subsequently, creators can use Bixel to mint their NFT on the BNB Smart Chain, and add a description to the posting.

Using Bixel requires a KYC check, and the platform charges a 0.008 BNB minting fee. The NFT tool is already gaining a reputation for being quite user-friendly.

ChainGPT has also released an NFT generator that uses AI to create compelling artwork that aligns with the user’s visions. While it’s also a BNB chain platform, this one has a native token–CGPT–that powers the suite of tools offered by ChainGPT, and that can be used for both yield farming and in making governance decisions for ChainGPT’s DAO. Eventually, the NFT generator will also be transferred to the ownership of this DAO.

7.NFT Mystery Boxes

Drawing inspiration from the allure of physical blind boxes, this trend has rapidly gained traction within the NFT community, introducing an element of surprise and intrigue to the marketplace.

NFT mystery boxes follow the fundamental concept of their physical counterparts, where buyers purchase a box without knowing its exact content. In the digital context, this translates to acquiring an NFT or collection of NFTs whose content/features are undisclosed. Such content can range from unique artworks, rare collectibles, virtual assets, and exclusive experiences to limited-edition airdrops.

NFT mystery boxes are frequently sold on NFT marketplaces such as Opensea. Customers can purchase these boxes, which they can then digitally open to reveal what’s inside. For collectors who enjoy the element of surprise and the opportunity to discover something special, the worth and rarity of the NFTs contained in the mystery box might vary, making it especially alluring.

8.Governance NFTs

Many DAOs are now using NFTs as governance credentials for their members- and since many DAOs are now also integrating more with the real world, these governance NFTs are becoming quite valuable. With these tokens, holders can enter into autonomous organizations and shape them by voting on proposals.

For instance, MolochDAO, which focuses on funding Ethereum projects, utilizes NFT credentials for its community members. Members hold “Shares” in the DAO represented by NFTs, and to join the DAO, they must submit a proposal which includes a certain amount of Ether. If the proposal is approved, the individual is granted a Share NFT, which serves as their membership credential.

BUYC has also recently launched a DAO, focused on real-world development projects, which uses an NFT ‘passport’ credential. The DAO is centered around development proposals in the city of Union Bay British Columbia, which the organization envisions as the first ‘Web3 city’. NFT holders get to vote on proposed developments for the city, shaping its future, while the DAO’s tokenomics lets them get a cut of the value created by what’s approved.

Final Thoughts

The NFT revolution has captivated the imaginations of artists, collectors, investors, and technologists alike. As its trends evolve and narratives shift, the NFT landscape will undoubtedly continue to surprise and inspire. Whether it’s the emergence of novel use cases, the integration of cutting-edge technologies, or the exploration of new avenues for artistic expression, the journey ahead promises innovation and adaptation.

Learn more about MetaBlox’s NFT-supported global WiFi network on its website and communities channels.