People can change their social media profile picture to their newly purchased NFT, which is one of the main reasons Avatars NFTs have gone viral. It creates a massive networking effect on social media, which is the best place for it. Since Facebook and Whatsapp, people have used profile pictures to subtly express themselves.
The rising demand for NFT avatars has been fueled primarily by social media discussions about the new technology, as well as the exorbitant prices paid for them by private collectors and institutions.
While the market for NFT avatars is still small, many of the rarer NFTs from popular projects have seen a significant increase in secondary market value on NFT marketplaces like OpenSea, with some selling for hundreds of times their original mint price. There’s no denying that the market for NFT avatars is expanding, as evidenced by social media conversations and blockchain data. NFT projects, for example, are said to be to blame for an increase in Ethereum gas prices in August 2021.
But I don’t think gas prices will be an issue in the future because many other projects, such as Solana, have jumped on the NFT bandwagon, and even if it didn’t, you could make your own custom NFT avatars with “NFT Avatar Maker,” a tool for NFT creation. And I believe you can save a lot of money using these methods.
BUT, BUT, BUT…..
In industries such as gambling, art, crypto games, and many others, NFT avatars have been a huge success. The technology will continue to improve in terms of utility and features, adding functionality that will help the NFT market grow even more. The possibilities are endless, so let’s see what this community’s future holds.