The story of NFTs—and its underlying technology blockchain—has been a tale of extreme countervailing narratives, imploding from breathless hype to death knell. Any of you out there recall the 2020 slim-jim wrap about how the NFT market tripled to $250 million? Or the first quarter of 2021, with more than $200 million exchanging hands for digital collectibles. But soon after arrived the sobering headlines, including one from the Wall Street Journal announcing a market “crash” by May 2022. But is this really it, or merely the first act of a bad, tawdry sequel, featuring a very special chapter plot twist.

According to one of Rarible’s co-founders, this doomsday narrative is mostly a counter-narrative, indicating a pivot instead of an outright collapse. To get a sense of why that’s the case, it’s important to look at the data and future use cases of NFTs. So in this piece, we’re going to dig into the numbers, and how NFTs can become something more than just speculative assets.

The NFT market's volatility is undeniable. OpenSea, the largest NFT marketplace, had its valuation inflate to $13.3 billion at the height of the 2021 NFT boom. A look at their trading volumes side-by-side paints a very different picture. In fact, between August 2021 and April 2022, weekly NFT trading volumes consistently topped $750 million, with many weeks exceeding $1.5 billion. In comparison, the week of June 2022 – week of May 2022 had weekly volumes under $277 million each week. This sharp drop further underscores the severity of the bust. It's important to remember that markets fluctuate, and past performance isn't always indicative of future results.

Rarible's Optimistic Outlook: A 2025 Prediction

NFT believers have continued to look past the market’s volatility to predictions of NFTs’ long-term success. Rarible (RARI) price prediction for 2025 Rarible’s future looks promising as per RARI predictions.

  • Price Range: Forecasts suggest RARI could fluctuate between $0.6993 (minimum) and $49.74 (maximum) in 2025.
  • Average Price: The average projected price for RARI in 2025 is around $35.10.
  • Potential ROI: If RARI hits its maximum predicted price of $49.74, investors could see a potential ROI of 3,091.00%.

Here's a glimpse at some specific daily predictions for late April 2025:

  • April 25, 2025: $1.197276 (0.01% ROI)
  • April 26, 2025: $1.188886 (0.70% ROI)
  • April 27, 2025: $1.195612 (0.13% ROI)
  • April 28, 2025: $1.191375 (0.49% ROI)
  • April 29, 2025: $1.213347 (1.35% ROI)

These predictions are in no way guaranteed but are rather the result of an analysis of Rarible’s historical price movements and market developments. These numbers aren’t the complete picture, but they do indicate the incredible opportunity for expansion. They’re a reminder too of the continued innovation and experimentation happening in the NFT space.

Quick to keep in mind that these are all speculations and the crypto market has been extremely unpredictable. The recent news from Rarible has inspired hope among a lot of folks. They wanted to believe that NFTs would move on from being sad, speculative assets and find true utility.

Beyond Speculation: Real-World NFT Use Cases

What NFT needs to survive long-term — what will ultimately prove its value — is real-world utility. Forget the million-dollar JPEGs; the future definitely seems to be NFTs as functional tools.

These examples show how NFTs can be used for more than just digital collectibles. Through delivering real-world value and prioritizing community involvement, NFTs will prove their worth as powerful assets not just in gaming, but across different sectors.

  • Event Tickets: NFTs can act as verifiable, secure tickets to events, eliminating fraud and offering unique experiences. VeeFriends and Kings of Leon's NFT album initiatives are examples of this.
  • Virtual Worlds and Games: NFTs can grant access to virtual worlds or represent in-game assets, creating new possibilities for ownership and interaction.
  • Community Governance: NFTs can empower communities by allowing holders to participate in decentralized governance models, as seen with Doodles.
  • Exclusive Perks: NFTs can unlock exclusive merchandise, content, early access, or other benefits, fostering loyalty and engagement.
  • Virtual Real Estate: NFTs can represent ownership of virtual land, allowing users to participate in virtual economies and communities.

Several technological advancements are paving the way for wider NFT adoption and utility:

Technological Advancements Driving NFT Evolution

Technological improvements are key to surmounting the issues that halted the widespread use and adoption of NFTs so far. For instance, they address things such as exorbitant gas fees and concerns surrounding data permanence.

  • Improved storage solutions: Networks like Arweave are enabling the storage of Atomic NFTs, which include both the contract and asset information, ensuring permanent data availability.
  • Advancements in blockchain technology: These advancements enhance the security, transparency, and tamper-resistance of NFT transactions, solidifying digital asset ownership.
  • Development of new NFT standards: Standards like Atomic NFTs promote interoperability, making NFTs interchangeable across compatible applications.
  • Enhanced security and verifiability: Publicly verifiable NFT data and ownership provide guarantees for the purchase of unique digital assets.
  • Increased efficiency and scalability: Faster and more cost-effective NFT transactions are leading to broader adoption and diverse use cases.

For anyone interested in getting involved in the NFT space, it is extremely important to be careful and of course, do your research.

Navigating the NFT Landscape: Tips for Newcomers

By adhering to this best practice, new entrants will have a clearer path through the NFT space and be better equipped to pursue it with confidence.

  1. Research and Due Diligence: Thoroughly investigate NFT projects, examining the team's background, community engagement, and the artists' track record.
  2. Understand the Risks: Be aware of the volatility of the NFT market and the potential for scams and fraud.
  3. Start Small: Begin with smaller investments and gradually increase your exposure as you gain experience and knowledge.
  4. Focus on Utility: Prioritize NFTs that offer real-world utility or are part of strong, engaged communities.
  5. Secure Your Assets: Use secure wallets and practice good security hygiene to protect your NFTs from theft or loss.

There’s no doubt that the NFT market is enjoying an extreme downward trend. The reality of the tech’s innovative promise and real-world application is still bright. Whether Rarible’s best case scenario for 2025 plays out, we’ll have to wait and see. The future of NFTs is going to be found in practical applications, beyond the current speculative frenzy, that provide real value to their users.

The NFT market has undoubtedly experienced a significant downturn. However, the technology's potential for innovation and real-world applications remains promising. Whether Rarible's optimistic predictions for 2025 come to fruition remains to be seen. The future of NFTs depends on their ability to evolve beyond speculation and deliver tangible value to users.