Did HUH Token Call it? NFTs Continue to Stir Excitement While Bitcoin, Ethereum & Fantom Stay Down

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At the beginning of last year, the thought of pixelated, cartoon-like images selling for millions of dollars due to being ‘unique’ and ‘non-replicable’ would have been laughable. But no one’s laughing now, as the NFT market flourished into a USD 40 billion industry at the end of 2021. 

Pixelated characters merely mark the dawn of NFTs and the metaverse, and hint at what our future will look like. NFTs have many practical uses that could be transformative – paper-based transactions could be eliminated if signatures were tokenized, while tokenizing important documents would comprise the most secure form of storage. Thus, NFT experts believe that the industry will keep on growing. By 2025, the NFT industry is estimated to be worth an immense USD 80 billion. 

Crypto seemed to get swept aside during this NFT craze. Although 2022 predictions for Bitcoin, Ethereum, Dogecoin and Fantom were majorly optimistic, the year has been off to a sluggish start for crypto. Following the surge of crypto investors worldwide in 2021, largely facilitated by the ongoing pandemic, governments became concerned, and several have already imposed restrictions on crypto. Some countries have also started piloting their own CBDCs in attempt to re-centralize currency.

Notably, Bitcoin is staggering. Yesterday, the first ever digital currency plummeted to USD 38,000 for the first time since last summer, supposedly triggering a chain reaction impacting the rest of the market. Lowering values are beginning to worry hopeful crypto investors. Experts even pushed back predictions that Bitcoin will surpass USD 100,000 until later down the line. All these factors have only added