-Is it Safe to Invest in NFTs

NFTs have taken over the world, especially the tech industry by storm. Be it gaming, music,
fashion, or even in the food industry, NFTs are everywhere! Meta, Reddit, and Twitter are also
stepping in with NFTs. However, it is not wrong to say that non-fungible tokens are yet to
explore their full potential.
With the new buzz and uncertainties in crypto, Investors are betting big on NFT as it creates an
opportunity for budding NFT startups. So, does NFT has safe growth in the future? Would
buyers be able to generate passive income using NFTs? Let’s Find out!

Blockchain technology is the main building block for NFTs. With the launch of Metaverse and Reddit, many businesses rolled into the bandwagon. However, the user’s fear of financial loss due to crypto’s volatile past was handled using Blockchain.

What new NFT trends we will see in 2022 and beyond?

NFTs can lead to endless potential applications; Legal firms can replace legal documents with smart contracts, with the inception of Metaverse, many tech giants like Facebook and Google are launching their virtual reality. Therefore, it is safe to say that NFTs have a definite future in the coming time.

How to make a passive income in 2022? Here are 4 top listed trends you can see and decide on how it is safe to invest.

1- NFT Gaming:

Blockchain technology with NFTs has massive potential for growth for the Gaming industry. Games like Blankos Block Party and Axie Infinity are making waves with the latest ‘Play to earn’ models, and are making real money for gamers. This trend has gained exploded popularity, especially in the third-world countries of course, who do like to play and earn.

Now, you may want to know that which gaming platform has the most aptitude? It is the Axie infinity, the P2E game inspired by Pokémon. What is the game about? It is based on buying, breeding, and training Axies for battle. The Axies are NFTs and in battle, winning a love potion means you are winning NFTs. What is the real deal here? Players can sell this love potion on the secondary market for real money. Yes! you can earn every day playing at home; just learn how to master this game.

The Metaverse

Since Metaverse doubled user expectations, the gaming industry is levitating with the feature of not just playing outside the game but the player can now be ‘In the Game.’ Metaverse, being the new virtual world, this realm needs to offer safety, interoperability, and privacy.

That is where NFT steps in

Metaverse is as real as the physical world but has custom digital design as per consumers’ needs. You can create your own neighborhood in the digital world, interact with different users and even go shopping, NFTs will serve the same purpose for you in the virtual world as in the real world.

What drives the value of an asset, is its utility and scarcity. NFTs serve both Leading Metaverse companies, Sandbox and Decentraland is tokenizing everything for VR headsets to Real Estates buyers and by the look of it, Twitter is also preparing to launch a service for artists to sell their art in NFTs-becoming a new hashtag on Twitter

2- Digital Twin NFTs

All consumer products will have their digital twin in the next ten years – as claimed by Tether co-founder, William Quigley.

So what’s a digital twin and how does it belong on this list?

A digital twin is a digital copy of the physical asset or product. You might ask why you would need an NFT when you already have it in physical form OR are you sure that you have a real product? So, the answer is that NFTs or digital twins with any product are the guarantees that it is original.

For the year 2020 only, 3.3% of trade products were identified fake- in the world trade, even the paintings in 40% of museums are fake. The auctioning industry has had a special interest in its target audience, but the buyers do not know if they are paying for the real product or not!

When paying a hefty amount, you deserve to get an original product but the real world products are always doubted in that sense, especially when purchased by resellers!

Surely the Nike Luberto shoes you just got from eBay may look like Nike, but are you certain that they are? But now you can be sure of it because Nike is selling minted NFT with their shoes. Hence, If you buy a pair of Nike shoes, you will not only get the actual product but a digital twin too! If you want to resell the same shoes in the future at a good price, just show it’s NFT, and the buyer will know that they are paying for real Nike Luberto.

3- AI NFTs

AI has been a major disruption in the tech industry, alongside Blockchain. A combination of two should not be surprising for you.

AI-generated Art

The first trend that changed the perception of buyers is, AI creating NFTs. It is not a new phenomenon however gained recent recognition due to the biggest revenue generated in 2020 (over $6,00,000, for artwork created by AI called GAN at Christie’s). Introducing AI has supported the worldwide acceptance of NFTs. Imagine explaining this to an art lover, they will be mind blown that they never knew the authenticity of the artwork!

iNFTs

iNFTs is the second major contribution of Blockchain and AI. Realizing the lonely scenarios of pandemics, iNFTs are given an AI personality and they can be your companion without annoying you during the lockdown. You can even plan for a good weekend with an iNFTs, if you have no family or friends around.

Alethea AI is driving the iNFTs phenomenon. Though it may take a couple of years to become common, it could be useful for the elderly as well as patients with mental health issues.

 

4- NFTs and Finance

The sales volume for the third quarter of 2021 was an estimated $10.7 billion. This kind of revenue cannot be generated without getting the attention of the financial world. The value of NFTs is worth billions of dollars but it is not something like Real Estate property that you can hold on to for long durations. You need to keep selling and buying NFTs, to keep the assets fluid and thus increase your revenue.

Let’s say, you have million dollars in NFT but zero in your bank account and you identify an opportunity to invest in the real world. Services like ‘Drops‘, let you take a loan by putting NFTs as a mortgage. Think of it as leverage or as collateral.

The industry of cryptocurrency and decentralized industry is booming, NFTs have a seat at the table!

Scaling Blockchain, Scaling the Websites

Scalability is the emergent need in tech 2022. The way cryptocurrency and NFTs are becoming common and in demand, it is feared that Blockchain will not be able to handle the increased transaction volume and data storage. Just like Blockchain, websites, mobile apps, and servers are not designed for infinite scalability. Websites have a limited capacity, NFTs are soaring and need additional space to manage each data transaction.

The NFTs sites are flooding and people believing in safe and hassle-free solutions may never accept the downtime of the website. What is the probable solution.. virtual waiting room? When the website is receiving maximum users requests, the incoming requests can be redirected to the branded waiting room on another server using standard HTTP 302. Users are in sequence stacked back to the website, supporting websites to control the traffic and offering a seamless user experience.

Takeaway

The future of NFTs is bridging a gap between the consumers and creators, giving security and value to a digital asset, and this, either for better or for worse, will shape the economy.

The future of NFTs is promising, many people are looking for safe passive income to survive through pandemic crunch and stay safe using reliable remote services.

Interested to learn more about how to bootstrap your startup? Get in touch with us at DIVSYNC.

 

Businesses, no matter what size, have especially suffered since pandemic. With rising inflation and energy prices, expanding in-house teams will increase overall operational costs. It is more critical in times when consumers are more focused on User-based pricing and want the value for their investment. With your in-house team intact, you can now outsource your software development needs and get top talent with handy benefits.

As per statistics, the global IT outsourcing market was $526.6 Billion in 2021 and is expected to reach $ 682.3Billion in 2027. 

Do you have a critical software development need at hand? Outsourcing can be your savior; you can save on costs and get skilled talent on board in no time. Completing a project in time is not a nightmare anymore and you also get to work with a remote team available on call—a win-win situation.

Are you getting multiple change requests from clients? No need to exhaust your in-house resources. Offshore outsourcing is known as a more flexible option Vs. in-house/on-shore development. Certainly, Nearshore outsourcing wins the game; you have a virtual partner just around the corner waiting for your signal to join the marathon.

Onshore Vs. Offshore Vs. Nearshore Software Development Outsourcing

Would you like to learn which outsourcing model suits you the most? Check out the comparisons below for a better understanding

Onshore Software Development Outsourcing 

Onshore outsourcing is the conventional hiring of people from your location at an hourly rate or by project in your currency. It can be costly as you have to pay at a set rate and even increase wages with time. 

If you want to find a maestro in their field, you may need to pay higher than the market rate to retain talent.  If you do not have a constant flow of incoming projects, keeping tier-1 talent is not feasible for your team. Especially for high-growth startups, scaling your team onshore is not a suitable choice for you.

 

Offshore Software Development Outsourcing

If you want to find the right pearl in the ocean of fresh and experienced IT talent that too on budget and quickly, offshore outsourcing is the right choice. Beware! If you seek micro-management, it can be tricky for your as you have to loosen up some control.

 But many businesses like Slack, GitHub, and even tech giants like Ali baba and  Apple are successful due to their offshore outsourcing to Ukraine, and relocating development labs due to war has increased their operational costs! Just Relax, Sit back and follow the league.

Nearshore Software Development Outsourcing

If you have concerns over Burnout and are not ready to trust strangers, nearshore software outsourcing is the right choice. It dramatically reduces your labor costs and lets you stay in control of the complete development lifecycle. 

You may also want to see this: How to Choose Between Software Outsourcing Company and Freelance Developer

Four Benefits of Nearshore Software Outsourcing 

1- Flexible Scaling

Suppose you have a project in the pipeline with constant change requests from customers or facing sudden unavailability of in-house developers. In that case, you need to keep up with managing customer expectations and scale efficiently. With the nearshore engagement model, scale your in-house team without increasing headcount and get on to complete the project within time and cost.

You have no time to train? You can choose the best fit for job specialists from nearshore software development companies, leaving you to focus on core internal operations and enjoy the peace of mind that all is well!

2- Access to Large Talent Pool

Finding top-tier talent, Master of all trades, and on a budget is like asking for a flying carpet. However, not impossible with nearshore development companies like DIVSYNC are ready to help you build your team with vetted developers already experienced in developing cutting-edge solutions. 

What to look for? Although you may find much-skilled talent, always ensure that the nearshore development company you are about to choose keeps customer services as its top priority. At least that’s how we make our consumers feel like a superstar!

3- Reduction in Business Costs

Although not as cheap as offshore but nearshore software development can help you manage colossal business profit margins. When you choose the dedicated development team, you will overcome the hefty cost of an hourly rate of onshore team and hassle of in-house recruitment and talent.

 On top of it, you can have swift communication and augment your in-house team with remote talent to mitigate any risk and speed up the project development timeframe.

4- Launch Products to Market Faster

With a dedicated development team on board, you can launch your MVP 50% faster than your counterparts relying on in-house teams. You can get inch up your product revenue and retain your competitive edge.

What to look for? A good nearshore software development company will have a comprehensive portfolio of services, including application development, product design, application reengineering, etc. Plus, they can offer you a complete power pack solution with Data scientists, QA, research, and security to get a completely functional product you are satisfied with. 

Challenges of Nearshore Software Development

There are always two sides to the coins! Nearshore software development is not as cheap as offshore software development. With concerns like ‘complete control,’ here at DIVSYNC, we offer clients the to build their smart teams or hire developers for quick work on any project. 

Wrap up!

You can now decide which model to choose and how they are suitable for your needs. But if you want value for money and swift development without any delay, nearshore software development is the best choice. 

 

Contact us today to see how soon we can deliver your software product. 

 

As a number of new tools continue to grow on the market, it has become more critical than ever to invest in the right tech stack. How will you know that which technology is best for your business? It depends upon the maturity of your consumer experience processes.

Technology is changing like seasons. We get to know what’s rolling in, and while adapting to it, any last-minute trend dazzling consumer experience jitters standard methodology. With Metaverse and Web 3.0 just around the corner, the consumer experience will reach its breaking point. How do you survive it? Your company’s priority to CX and the level of investment to improve internal operations will be a rationale for success.

Any experienced led startup or enterprise operating on Journey management. You need to understand your consumers walk through your product to know how much they are connected. With this, you can prioritize the right opportunities to add to customer experience. If you know your consumers well, you can quickly choose the ideal tech stack to scale your business needs.

What does CX mean?

 CX stands for customer experience. But if you want to know the definition, it is the customer expectation from your business, how you interact and treat them. It can also build a perception of how they feel about your business.

To be sure, how important is CX? According to Forbes, it was bound to become the leading brand differentiator by 2020, effectively becoming a far more critical metric than product and pricing.

Need to increase customer retention? Your CX is directly linked with managing your brand loyalty. Data shows customers with positive CX are 54% more likely to make a purchase, and 5% of the new customers are from referrals of loyal customers. So make sure you get to make enough brand fan following.

Three Common Pillars to CX

Blue Pill or Red Pill? Blue one, you keep going. Red pill, you want to know how to improve your consumer experience. Sure about it? No matter which tool you pick, you need to know these three rules serving as a foundation for many startups and enterprises offering legendary consumer experiences. Here’s the FOMO,

• They have a strategic structure for their transactional data (conversion, revenue, volume) to map their consumer journey
• They use data platforms, yeah! You’ve got it right. With Big Data at hand, nobody has a wizard to predict. Customer satisfaction metrics, known as CX metrics, help you from losing your customers and revenue.
• Too many cooks spoil the broth! Every successful business uses one source of truth for its CX.

How do you exactly know what your CX maturity level is? Let’s get you through the mastery of journey management, and you will get to know at what level you are and how much you need to work. For your convenience, we are listing some tools that can get on board immediately to assist you in steering in the right CX direction. Avengers assemble! 

 Level 1: Intuition Driven

The majority of startups are indeed developing their consumer journey on a hunch. It’s probably one of the reasons that many startups are failing. Do not fear experimenting with new tools. When no one is storing customer insights systematically, it’s an opportunity for you to take an edge over your counterparts. Start with essentials and document everything you do and how you do it.

 1- Source of Truth: PowerPoint, Excel, and Miro are good to use When the customer journey is not yet complicated.

 2- Data: There is much data to handle. Teams like Apple and AutoZone use tools like Qualtrics.

 3- Structure: It’s an early stage. So many startups are either using Silo or are categorized in departments.

Level-2: Introducing Process

 When you aim to become a better choice for your consumers, you provide better services to your consumer personas. It is no more dart game with the journey insights, and you can hit targets with a plan. But mind you, it may become messy. If teams use different tools, the bombardment of information could be misleading.

1- Source of Truth: You can use PowerPoint, Miro, Excel with other journey mapping tools.

2- Data: It all depends on what you are hunting for at this stage. But the typical pattern is to use Qualtrics to measure CX, Google Analytics for transactional metrics, and consolidate results with tools like Power BI. Present your insights in PowerPoint or store them in Dovetail repository.

 3- Structure: As the company grows, startups mostly decide to build on Silos in meetings.

Leve1 3: Journey Driven Workflow

 Your business now has a roadmap based on customer journey, and you need to keep track of opportunities and progress. Ideally, you should have a framework to standardize your consumer journey at this stage. Here’s how you can connect your internal operations with your customer journey

1- Source of Truth: That’s where the consumer journey becomes critical, and the team needs to make a big move to use Customer journey management with DIVSYNC

2- Data: With Qualtrics and Google analytics already on board, it is safe for teams to add CRM like Salesforce for measuring transactional metrics and integrate them into internal operations.

 3- Structure: Strategy in place and set up with Journey Management System (By DIVSYNC), introducing a way to engage consumer expectations and business goals.

Level 4: Companywide Framework

You have a customer journey framework in place, and everyone in your company speaks the same language your consumer thinks. But some teams may still be focused on their stage of consumer experience.

 1- Source of the truth: At this point, it’s crucial to have a journey hierarchy system in place

 2- Data: Teams should use Qualtrics, Google Analytics, and a CRM like Salesforce. From here, you can easily make blueprints for a fabulous consumer journey. With the help of Data scientists on board at DIVSYNC, you can now connect customer behavior across channels.

3-  Structure: The entire journey is connected around one framework; this connects product teams and Agile ensuring that the epics and journey are in place.

 Key Takeaway

You now have your custom CX dashboard that becomes your brand voice, and no other business works along the same lines. Your entire teams understand your consumer journey. At this point, you need to carefully continue to scale and keep a tight check on consumer feedback.

 It is difficult to manage teams around the consumer journey, But rest assured no need to risk your business profits and reach out for any help to DIVSYNC; We would love to learn from you.

Crypto adoption had a significant breakthrough in the year 2021. Although the regulation of cryptocurrency is still debatable, the increasing interest of people and businesses has taken it to new heights. As Ethereum is at its peak value, countries like the USA are amending laws and are about to introduce new financial regulations for cryptocurrency.

With the recent events like Russia-Ukraine War, Majority of the Russian population was seen investing and trading in Bitcoin and cryptocurrency in Gulf States. A sudden influx of massive investment in UAE helped strengthen their economy-piqued interest in neighboring countries to regulate bitcoin to sustain the current inflation and energy crisis. 

However, as the crypto industry is still in its nascent stage and is rapidly evolving, the uncertainty of the value of Crypto going up and down still raises questions that if it is officially regulated, people can claim their loss from their governments. Therefore, it’s hard to predict what future beholds for crypto and Bitcoin in 2022. 

But we have highlighted some latest trends for you to decide if you want to take this risk

 

2022 Crypto Predictions: More IPOs, More Use Cases, More Adoption

1- In 2022, More crypto intensive businesses will go public

2022 will be the trendsetter for 2021, with deep pipelines of crypto-enabling companies to go public. As of 2022, there is a wide array of business practices in which Crypto is the main focused financial currency. Since the Metaverse is in full swing and with NFT hype, businesses are taking Crypto as an authentic mode of transaction. Fintech solutions are the perfect platform for digital asset miners and payments like Crypto to thrive. 

2- NFT(Non-Fungible Token) is viral in primary stream users, and the subsequent major uses cases to emerge are loyalty programs, e-ticketing, and e-sports.

NFTs had a breakthrough in the third quarter of 2021. But we believe that still NFTs are not explored at full potential. Many users having interested but unable to access NFT platforms is one of the main reasons for holding back from NFTs. The development companies need to work on building a user-friendly interface for any non-crypto native to understand and participate quickly.

When it comes to money, people take time to trust. But the more control they will have over their transaction will help them make informed decisions. That’s where the smart team of developers at DIVSYNC cut’s in over others as we focus on maximizing user convenience and keeping high development quality intact.

You may want to read this: 4-Ways to Earn Passive Income from NFTs

The second reason for preventing widespread adoption is that it’s like bulking your digital wallet with nowhere to invest. With some cutting-edge applications coming to market, Esports, loyalty points, and sports ticketing are the next stop for NFTs to impact. With smart contracts in place, auction and premium seat lotteries will get more engagement and a new trend for Casinos.

3- ETH is undergoing a Major Software Upgrade that reduces its carbon footprint and increases network Capacity

Ethereum and Bitcoin both use “Proof of Work” (PoW) to verify information on Blockchain to prevent attacks. However, for 2022, Ethereum plans to shift from PoW to Proof of Stake ( PoS)-dramatically altering the landscape for Ethereum Miners. Although moving the PoS will be environment friendly and will have excellent network access, it will lessen the profit margin for Ethereum Mining, and miners will have to move to a greener pasture. 

 

 Unfortunately, misguided and ill-informed concerns continue to plague the cryptocurrency industry because of its mining and carbon footprint; a new wave of NFTs has given a new cap to the same market to grow. People like to own things. With NFTs offering exclusivity and the owner of NFTs also knowing that they own the actual value for money and have the best quality of products and services, wins trust of users to invest in NFTs.

 

Although the current energy and peace crisis, Crypto, Bitcoin, and NFTs can call the shots. Worried about weak consumer protection and money laundering issues, regulating Crypto will be “Wild-West” for Blockchain-based banking services. However, you can still buy NFTs to enjoy the peace that you are paying for original, and whenever wanted can resell the product at the same price with NFTs. 

 

 Key Takeaway:

 There is no doubt that cryptocurrency has gained momentum in 2022. Still, incidents like China banning Crypto and USA’s unable to regulate Crypto for their banking services threaten the open and broader acceptance of Crypto and Bitcoin officially. But if you want to join the bandwagon, it’s safe to start buying NFTs and further invest it as a passive income stream to buy more digital assets.

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