6 Predictions for NFTs in 2023

By Josh Bobrowsky

1. There will be a breakout video game

I believe at least one gaming NFT will be wildly successful in 2023.

I don’t believe this will be a massive metaverse play, this will likely be a simple fun to play game that just connects with its audience. I think this will end up looking like Angry Birds or Stardew Valley.

Metaverse is likely 3-10 years away from hitting scale. I could be wrong here and maybe some massive company is building in stealth mode, but I’d be very surprised if we saw a AAA NFT game take off next year. I think it will be fun, simple mobile friendly games.

Or even if they are not mobile friendly, it will be a simple game that is just fun to play with reasonable economic systems.

2. Many NFT brands fade away

2022 was the year of over-supply, over promises and under-delivery. In short, the bubble burst and people sobered up.

2023 for many brands will be their last year. This is part of any hype cycle and similar to the dot com bubble.

3. New leaders step onto the stage

We are going to see a changing of the guard. New CEOs, thought leaders, and voices will step into the space. Many will operate outside of the current small ecosystem of influencer based leadership.

This will result in short term tension between current social influencers and new business operators.

My guess is that the newer players will start to get a strong foothold in the space towards Q3-Q4 of next year.

4. Macro-economics

At a macro level, as interests rates rise I recommend using extreme caution when investing money into risk-on assets like crypto and NFTs. This doesn’t mean there will not be great investments, but right now it looks like we may be swimming up stream.

As interest rates rise we may see sideways trending in crypto or downward pressure. All this said, while I think its good to use caution here anything can happen and this is not financial advice.

If interest rates go above 7% Treasury Bills and corporate bonds may become very appealing to large investors.

Even large investors who previously invested in ETH and NFTs.

5. Half or more of the top 10 NFT projects of all time will be replaced with newer entrants

The chart above is top 10 NFTs by sales volume of all time. I believe at least half of these will no longer be in the top 10 this time next year. That is my prediction and bet.

Above is a chart of the top 10 NFT projects by trading volume for past 30 days. My guess is that this chart will also have at least half replaced.

6. The birth of the $10 NFT

I expect that many NFTs will be valued between $10-$300. This is in part due to the many companies launching NFTs on the Polygon network. Polygon has almost no gas fees which makes buying low cost NFTs viable.

I expect this will go hand in hand with expansion of gaming and the growth of corporations adopting NFT rewards systems like Starbucks.

Conclusion

I’m excited to look back on this post in a year and see where I was right and where I was really wrong.

While I don’t know what the future will bring, I’m excited to see what is next for the world of NFTs in 2023.

Cheers

Josh Bobrowsky