Take a closer look at current NFT trends in 2023 and how they are changing across industries

By Anastasia Samaras

This week, the Upstream team published the fifth episode of their new Twitter Spaces series, ‘Upstream Up Close’, featuring 10–15 minute conversations about NFTs, blockchain, and trading on Upstream. This fifth episode focused on current NFT trends in 2023 across industries, what they entail, how other companies are positioning them, and the boundaries they are pushing.

Listen HERE to Upstream Up Close: Current NFT Trends across Industries.

Leading the conversation was Vanessa, Upstream’s Head of Marketing, Amanda, Client Success Manager, Anastasia, and Fernanda, Digital Marketing Specialists, who shared their findings on the current NFT trends of 2023, and how they are changing across industries.

Fashion

Lacoste: The French fashion brand first got started with NFTs by releasing 11,212 Genesis pass NFTs. They just announced that they’re expanding the utility of these passes with a Web3 loyalty program. Holders can now convert the digital passes into an UNDW3 card and connect their wallets to participate in an interactive game experience called The Mission. Their fans can embark on quests to unlock exclusive perks and participate in the UNDW3 community.¹ This is significant as larger brands have typically kept their Web3 promotions more separate but Lacoste is putting this promotion right on their official website. Lacoste already operates a Web2 loyalty program. Adding a Web3 digital rewards program allows them to connect even further and award community members who actively participate and contribute.
SmrtKuffs: The luxury watch brand La Maison is using NFC chips and blockchain technology in Apple Watch cuffs. This is a new way to help combat counterfeit goods and ensure the authenticity of luxury goods.²

NFTs are being used to authenticate and track the ownership of physical goods. This is a growing trend in the luxury goods industry, as brands look for new ways to combat counterfeiting.

It’s great to see legacy brands taking confident steps into Web3, providing digital and physical benefits to NFT holders and turning them into active members of their community. It’s not just about owning a digital asset; it’s about participating in co-creation initiatives, gaming experiences, and engaging in new conversations around the brands.

Brands are also using Discord to reach a new audience. There’s a huge crossover among Discord users that have a basic understanding of Web3 across gaming, finance, and tech. These NFT projects are creating a bridge to this community and brands are doing a great job capitalizing on this new untapped audience

Art

Rhizome and TRLab partnered to create the “Postcards from StarryNight” collection. They minted NFTs from museum-quality screenshots of the restored version of StarryNight, a significant piece of Net art. For those who are unfamiliar with Net art, think GIFS, its digital artwork distributed on the internet.³
Bloom Editions launched an NFT project that is focused on producing high-quality, limited-edition NFTs. The first season of Bloom Editions will feature 10 different artists, and each artist will create a limited-edition NFT.⁴

Generative art is a growing trend in the NFT space. This type of art is created using algorithms, and it can be used to create unique and visually stunning artwork. It’s not just about the NFTs themselves, but also the educational journey they’re creating through generative art and creative coding.

AI

OVO and NFP partnered to create a new platform for AI-generated NFTs. It will allow artists to create unique and visually stunning NFTs using AI technology.⁵
It is a significant development in the NFT space, as it could help to make AI-generated NFTs more accessible to a wider audience.

AI-generated NFTs are pushing the boundaries of digital art. Artists and collectors can now leverage advanced machine learning algorithms to create one-of-a-kind digital works of art that are encoded on the blockchain as NFTs. It’s a whole new level of uniqueness and scarcity in the digital realm.

Festivals

Coca-Cola Serbia launched a series of NFTs on the Solana blockchain.⁶
The NFTs feature limited-edition artwork and collectible items inspired by the Coca-Cola brand and are being sold on the SolSea marketplace.
The sale of the NFTs is part of Coca-Cola Serbia’s efforts to reach a younger audience and promote its brand in the digital space.

A positive development for the NFT space shows that major brands are starting to take NFTs seriously and are looking for ways to use them to reach new audiences. It is great to see brands develop creative ways for their company to engage with their loyal customers and create a sense of exclusivity.

Pharmaceuticals

M2Bio Sciences, a drug discovery company, has released an explainer video that showcases its groundbreaking NFTs and altcoins for drug discovery.⁷
The video explains how the company is using NFTs to track the provenance of drug compounds and altcoins to incentivize researchers to participate in drug discovery projects.
The company believes that its NFT and altcoin-based platform will revolutionize the drug discovery process by making it more efficient and transparent.

NFTs are not just being used in the art and collectibles space, they are making their way into medical fields. As we’ve seen, they are also being used to solve real-world problems, such as drug discovery, counterfeiting, and more!

It is amazing to see companies leveraging blockchain technology to create a new way of funding, educating, and supporting medical research. This is a different concept since these NFTs holders are getting behind-the-scenes insight into the research and development of pharmaceuticals.

Environment

Ecosapiens, a tech collective focused on creating eco-friendly products, has launched a new series of NFTs on the Celo blockchain.⁸
The NFTs are called Celosapiens and they represent corporate climate commitments. Each Celosapien is unique and represents a different company’s commitment to reducing its carbon emissions.

NFTs can be used to raise awareness about important environmental issues and to support organizations that are working to address them. The proceeds from the sale of Ecosapiens’ Celosapiens NFTs will be used to support the company’s mission to fight climate change. This is an incredible example of how NFTs can be used to support charitable causes.

Word of the Segment: NFC Chip

Our Upstream Up Close segment shed light on NFC Chips and how they can be combined with blockchain technology for authentication.

NFC Chips are used in tap-to-pay technology and airdropping photos for example. It allows for secure communication between physical items and their digital ownership records.

In the context of using them with NFTs. First, the physical collectible is paired with an NFC tag, which contains a unique identifier. This identifier is linked to the digital representation of the item stored on the blockchain as an NFT. Collectors can use NFC-enabled devices to scan the physical item and access the associated NFT and metadata. This scanning process verifies the authenticity, and ownership, and may unlock additional digital content or functionality.

**Listen here:** https://twitter.com/i/spaces/1ZkJzXXeyZZKv

If you missed the episode or you’re interested in learning more about current NFT trends in 2023 across industries, listen anytime, anywhere by clicking the link above.

As pioneers in the realm of blockchain-powered securities and NFT trading, Upstream has made it their mission to bring the immense potential of NFTs to the masses. Upstream’s user-friendly trading app has simplified the entire process, allowing anyone to effortlessly create, purchase, and trade redeemable NFTs with just a few clicks.

Join us as we continue to revolutionize the way we perceive and engage with digital assets. Stay tuned for our upcoming episodes, where we will unveil captivating insights, innovative campaigns, and remarkable experiences in the realm of NFTs. The future of digital ownership and immersive interactions awaits — be a part of it with Upstream.

Keep an eye out for our next episode!

Sources

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Upstream Up Close: current NFT trends across industries