A new form of Web3-based virtual interaction technology will be released in 2023

The market for non-fungible tokens (NFTs) struggled this year, but analysts predict that interest in them will soar the next year. By providing immersive experiences in the metaverse, more businesses across all industries will employ NFTs to draw in, reward, and retain the next generation of customers. The NFT and Metaverse sectors, which both saw declines this year, are anticipated to be discussed and sold on Meta and Reddit.

According to Rajagopal Menon, vice president of the WazirX cryptocurrency exchange, a new form of Web3-based virtual interaction technology will be released in 2023. The pace of company competitiveness and global marketing initiatives will increase as a result.

The collapse of the FTX cryptocurrency exchange, according to data from DappRadar published last week by Bloomberg, caused NFT sales to drop to their lowest point in 16 months.

On the other hand, the market for digital collectibles is anticipated to perform exceptionally well in 2019.

The main reason for this is that more nations now have their own regulations, giving investors an extra degree of security.