However, the year definitely did see expansion in utility, gaming, and music NFTs, as well as creative new applications for utility NFTs, such as soulbound tokens, token-gated communities and events, and co-ownership mechanisms. In addition, 2022 saw the launch of Sudoswap, a novel and permissionless NFT exchange for trading NFTs via an AMM design. The royalty-free platform saw more than 7,000 transactions in one day at its peak in August, representing over $3 million. Uniswap also recently introduced NFTs on their platform with an aggregator that supports OpenSea, Sudoswap, and X2Y2, among others. Overall, the year brought many creative new takes on how NFTs can be used, despite the category’s sluggish transaction volume.
