Massive increase in NFT talk and sentiment in 2021 shows growing fascination, according to GlobalData
November 19, 2021 (Investorideas.com Newswire) Non-fungible * (NFT) tokens have turned heads in the business world, according to GlobalData. The leading data and analytics company’s Filing Analytics platform saw a 20-fold increase in mentions of the keyword “NFT” in company reports in 2021, compared to 2020. This was accompanied by ‘a 13% increase in sentiment.
Rinaldo Pereira, Business Fundamentals Analyst at GlobalData, comments: âNFTs have been in the news lately, with people selling digital art for millions. Given this increase in digital consumerism, NFTs could help propel brand value. Sentiment around NFTs is comparable to that of cryptocurrency, suggesting that companies expect the possibility of disruption. “
Charlotte Newton, Thematic Research Analyst at GlobalData, adds: âThe hype breeds the hype. When big brands like Gucci and Coca-Cola start to embark on NFTs, either as a marketing strategy or as a way to generate new revenue in what is a virtual economy emerging, so it’s sure to pop up in more boardrooms. “
âDigitizationâ and âe-commerceâ were key themes discussed around NFTs in 2020 and 2021. âMarketplaceâ was also mentioned in 2021.
Kiran Raj, senior disruptive technologies analyst at GlobalData, expects NFTs to disrupt the intellectual property (IP) industry. A lack of transparency on patent ownership can be avoided, with licensees obtaining more transactional value from intellectual property through the ease of commercialization of patents through NFTs. Personalization of patents as NFTs could help companies seek funding through smart contracts and prevent forgery due to the uniqueness of NFT.
Pereira concludes: âThe use of digital IP NFTs is likely to add to a company’s brand value. When licensed, unique collectibles attract more fans and customers. This has fueled discussions around NFT markets among companies, which want to provide a more interactive experience for consumers – for example, owning a more âuniqueâ physical asset.
* NFTs are a way to turn a digital asset that can be copied endlessly – like an image, video, or message – into something unique, which is then verified on a blockchain. This is a digital version of a Certificate of Authenticity. NFTs often act as collectibles that consumers can buy and store, like PokÃ©mon cards or an original painting.
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Notes to Editors
- Quotes provided by Rinaldo Pereira, Business Fundamentals Analyst and Charlotte Newton, Thematic Research Team Analyst at GlobalData.
- The information is based on GlobalData’s enterprise repository analysis platform.
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