NFT.NYC: From Boom to Bust - A Look at the 2023 Edition

Potential Future Trends in the NFT Industry

The NFT industry has experienced significant growth and evolution in recent years, but as the market stabilizes and matures, new trends and developments are emerging. This article will analyze key points from recent events, such as NFT.NYC, and explore potential future trends in the industry. Additionally, it will provide unique predictions and recommendations for the NFT industry.

1. Pivoting to Merchandising

One of the notable trends highlighted during the NFT.NYC convention was a shift towards merchandising. The success of NFT collection Pudgy Penguins, which generated over million through the sale of toys based on its NFTs in Walmart, has sparked interest in this avenue. The convention explored the potential of partnering with established brands, like Mattel, to create merchandise based on popular NFT collections. The integration of NFTs with physical products can help reach new audiences and drive further adoption.

2. Connecting NFTs and Artificial Intelligence (AI)

Another emerging trend is the connection between NFTs and artificial intelligence. David Pakman, managing director of CoinFund, highlighted the possibility of minting user-generated content and art as NFTs to create a mechanism for content creators to receive dividends when their work is used in AI training datasets. This approach not only provides financial incentives for creators but also contributes to the development of AI technologies. Integrating NFTs with AI can open up new opportunities for creators and further expand the use cases for NFTs.

3. Resolving the Royalty Issue

One of the challenges faced by the NFT industry is the issue of royalties. Some platforms have stopped honoring royalties to incentivize trading activity, leading to a “race to the bottom” in terms of royalty payments. However, initiatives like the Creator’s Alliance, launched by Yuga Labs and Magic Eden, aim to address this issue. The alliance brings together top NFT projects and companies that commit to supporting marketplaces that honor royalties. Resolving the royalty issue is crucial for ensuring fairness and sustainability in the NFT ecosystem.

4. Focus on Infrastructure and Preservation

While NFT.NYC may have had a muted atmosphere, art-focused events were marked by a more focused and serious tone. Discussions centered around building technologies and practices that will preserve NFTs and create a sustainable ecosystem for digital art. The gender division between NFT.NYC and MoMA PS1 events was also notable, with women leaders from companies supporting talks on preservation. Investing in infrastructure and establishing practices for preserving digital art will be vital for the long-term success of the NFT industry.


The NFT industry is entering a new phase of development, with emerging trends that will shape its future. Pivoting towards merchandising, integrating NFTs with AI, addressing the royalty issue, and focusing on infrastructure and preservation are key areas that the industry needs to consider. These trends present both challenges and opportunities for creators, collectors, and platforms in the NFT ecosystem. By embracing these trends and adopting sustainable practices, the NFT industry can continue to evolve and thrive in the years to come.


  1. Jakub Porzycki/NurPhoto via Getty Images – “Bored Ape Yacht Club collection in OpenSea displayed on a phone screen and NFT logo displayed on a screen”