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The token of the Fetch.ai network — known as FET — launched back in February 2019, and it’s fair to say that it didn’t exactly go well. With an initial IEO of $0.086, the price of FET dropped pretty significantly in its first month, falling from $0.35 at the beginning of March to $0.20 by March 23^rd. The price corrected itself eventually, but began to gradually decline, dropping to a low of $0.01 over the course of that first year.

The price hiatus of FET, however, did not last. In 2021, the price suddenly spiked, hitting a high of $0.82 in March and then a peak of $1.17 in September. Since then, it has fallen a little more – which is in keeping with other altcoins during that period – but the Fetch AI Price still pumped by 32% in December of last year, and the price gain has continued ever since.

The Trends Of Blockchain

Why are we telling you this? Well, the price fluctuations – and the sudden gains that FET  experienced in 2021 – are a perfect example of how the trends of blockchain are changing. Back in March 2020, FET was on the verge of being a dead coin. Something that could simply fade out of existence and join the graveyard of altcoins that had accumulated since the launch of that first Bitcoin whitepaper.

But it didn’t. And one of the reasons it didn’t is because of the trend that Fetch.ai tapped into. Unlike most other tokens, FET exists in an AI-based blockchain network, utilising artificial intelligence to provide a framework that automates peer-to-peer applications and executes tasks through a machine-learning system.

The relationship between AI and blockchain is one of the many trends that have been growing over the past few years. Whilst blockchain began with the simple intention of changing the financial landscape, it has since grown into something far more revolutionary – if that’s possible – with a variety of new trends that have either enhanced the technology (as is the case with Fetch.ai) or entirely changed the concept of what blockchain is trying to achieve.

So, apart from the discussed integration of AI, what are these trends and how has blockchain changed over the last decade? Here’s a list of five trends that have revolutionised blockchain and what it might become over the next few years:

1. The Rise Of NFTs

One of the most significant trends that have changed blockchain is the move away from fungible tokens and towards non-fungible tokens. The intriguing history of NFTs began with “Quantum”, which consisted of a clip of the creator’s wife. This introduced an entirely new form of asset.

Whilst a BTC token could be swapped for another BTC token, an NFT was entirely unique, meaning there was no way it could be swapped and changed for something of the same value. Since this moment, the concept of NFTs has revolutionised the world, with many blockchain users and businesses taking advantage.

2. The Fight Against Inflation

The introduction of altcoins – coins other than BTC – is also a revolutionary move in itself. More specifically, however, stablecoins have become a trend on blockchain, designed to avoid the volatility of the cryptocurrency network and even fight against inflation. Users do this by staking their stablecoins for a high yield, hedging against inflation fears whilst remaining pegged to the US dollar – or other financial assets – as a safety net.

3. The Introduction Of Dapps

Ethereum is the second most popular blockchain network in the world, largely due to the amount of decentralised apps that it offers. Dapps are a trend that have only grown since the very first was published, back in April, 2016. One of the most popular is the Sandbox, which allows users to create and interact within a virtual world –  which includes NFTs and a number of ways to buy land, sell tokens or advertise products.

4. The Search For Sustainability

Speaking of Ethereum, being the second most popular network in the world, it was a sizable moment when it followed the trend of sustainability and decided to merge from a proof-of-work concept to proof-of-stake.

Whilst it was not the first network to do so, it was certainly the biggest, and it influences a trend for cryptocurrency to be more sustainable – without the power consumption that comes with traditional mining – which is a particularly important point when considering the market’s future.

5. The Move Towards The Metaverse

The biggest trend for blockchain is undoubtedly the move from a financial alternative to the next step in technology development. By 2023, the move from Web2 to Web3 will either have happened or be very close on the horizon, and the decentralised nature of blockchain means that it is front and centre of the upgrade.

Not to mention, all of these combined trends – the relationship with AI, the world of Dapps, the strife for sustainability and the success of deflationary coins – have already begun integrating people and businesses into the metaverse, before Web3 has even launched. In short, it has turned the concept of the metaverse into a very real phenomenon, and with the potential of strong technological support from the big companies, it is likely that the metaverse will only become more entwined with our lives over the next few years.