At this point, it’s almost inevitable that bitcoin will flash a death cross in the coming weeks. But, as I wrote the other day, it’s not set in stone what that will mean for the flagship cryptocurrency. 

So the jury is still out on where bitcoin will go next, even if it’s looking like a bumpy road ahead. But that’s not what today’s update is about… 

Just because bitcoin is struggling doesn’t mean that there aren't plenty of exciting crypto and blockchain developments to look forward to in 2022. In fact, it’s quite the opposite. 

For starters, according to data released by DappRadar, non-fungible token (NFT) sales surged past the $4 billion mark last month. 

NFT marketplaces like OpenSea, Magic Eden, Axie Infinity, and CryptoPunks are all seeing record sales data right now.

Regardless of the differing viewpoints over NFTs, they are certainly making people a lot of money.

And despite the volatility of cryptocurrencies in the near term, many believe that the nature of these digital assets may lead to a breaking off of prices within crypto markets.

Also, NFTs are a significantly broad category of assets that can include anything from music, art, collectibles, gaming assets, fantasy sports, financial assets, and more. 

Given this, NFT sales may grow in one specific category while they decline in another. 

Developments in ethereum and its blockchain continue as well, all of which add to the potential for expansion within the NFT market. 

I do think some issues need to be ironed out before we see even more widespread adoption of NFTs but there is exciting potential behind the technology. 

One thing I’ve been hot on lately is the metaverse. Cryptocurrency and blockchain technology are going to play an integral role in getting the metaverse off the ground. Whether we’ll see integrated NFTs or not is still up in the air as it’s such a new trend, but the potential is there.

To be sure, I’ll keep bringing you updates as they occur.

To a bright future,

Ray Blanco
Chief Technology Expert, Technology Profits Daily
AskRay@StPaulResearch.com