Still too early to pinpoint the future of NFTs

in hive-183397 •  3 years ago 

In general, my perspective is that the early years of NFTs, especially a little later than its invention in 2014...I'd say somewhere between 2015 to 2017 were the golden years of the technology. Back then NFTs weren't as popular as they are today. In fact, NFTs are not popular at all if compared to the entire cryptocurrency sphere. There isn't any major adoption nor is there a healthy diversification of use cases and exploration of its potential.


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When it first came into existence the technology was golden. A thorough and unbeatable form of verification and ownership stitched together. It was an incredible form of marking bitcoins and assigning each one of them for a different use or purpose. And all of them can be tracked or traced because they have been "marked" as unique and used for intended purposes. A bitcoin...but NFT.

The idea was incredible. And it still is. Please note the words usecase, unique and so on. That was the idea behind NFTs. But not too soon after it picked up some speed within many circles, I feel like NFTs have lost their meaning and sense of purpose. The incredible value it had within its intended purpose was lost behind an unquenchable thirst of inflation, flexing, and quick profits without any proper roadmap for a sustainable future.

I am not against making the highest possible profit from an opportunity that makes itself visible. However, once profits make the top of the list of goals, and profits exclusively, it starts dissipating all the other purposes. Today when you ask the general people what they think of NFTs they will either tell you they do not know or they will tell you that they are images on the web that sell for a large amount of money.


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So where are the other attributes that make NFTs really NFTs? That is my fear. The bubble could finally burst. There are just a few projects out there that are trying to rebuild on the original meaning of NFTs by giving each token a unique identification with either a unique perk or a general use case that is exclusive to holders only. However, none of these projects are very popular. I believe that if the bubble of flipping and creating highly inflated floor prices bursts, we could see the real use of NFTs become popular.

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I like your descriptions. Because I gave a pretty good idea of ​​the future of NFT. I learned a lot from that. Thanks for sharing such a beautiful post with us.

I am glad you found it informative. Thanks for reading.

A very good art of comfort.
This is actually want I need right now, just go out to a nice field and relax.

It's really peaceful and comforting.

What does your comment have to do anything with my post?

I'm still trying to get to know more of this NFT and how one is made.

It can be a little daunting but is very addictive once you get started