What's Next For NFTs In 2023?

After a turbulent year, the market for non-fungible tokens and digital assets in 2023 is expected to see a period of stabilisation as regulation increases and enthusiasm cools, putting an end to its "Wild West" attribute¹.

In Davos, Switzerland, this month saw global and business leaders meet to tackle the world's biggest issues. Since the last World Economic Forum meeting, the number of crypto companies attending were down with commentators suggesting this was to be expected given the global economic outlook, the $1.4 trillion wipe-out in 2022² in the crypto industry and the collapse of the major exchange FTX. Following the bear market, those companies that remain were being lauded as the "real deal" and focusing more on the promise of technology underlying cryptocurrencies and NFTs (i.e. blockchain).