NFTs on the Way to Mainstream Adoption
The trend started with CryptoKitties in 2017 but remained more of a gimmick for a while. In recent months, however, NFTs seem to have outgrown this stage. A booming market has emerged where platforms for trading NFTs, their issuers, and buyers meet. Among the issuers, Ethernity increasingly finds artists, institutions, and icons to create an […]
Related News
Stephan Holzer argued that providing a simpler way to own NFTs can boost the mainstream adoption of the technology. On day four of the World Economic Forum 2022, there were presentations on nonfungible tokens (NFTs), with speakers sharing their takes on use cases and adoption. At Blockchain Hub Davos, Veritic CEO Stephan Holzer and Seal Storage Technology CEO Alex Altman spoke on the importance of NFTs, their role in society and how the community can attract the mainstream to use the technology. In his lecture, Holzer argued that simplifying access to NFTs may push mainstream adoption....
Hype may have been a factor in the rise of NFTs, but the actual utility will be the catalyst for the mainstream adoption of the technology. Nonfungible tokens (NFTs) have seen a stratospheric surge in popularity accompanied by sky-high values, giving rise to legitimate and ongoing worries about a market bubble, as many projects lacked real-world application or utility.NFT utility is an essential component because it adds value and functionality to the technology. One of the most well-known use cases for NFTs is the ownership of digital art pieces like CryptoPunks. Play-to-earn (P2E) gaming....
Whether it be celebrities, big brands or corporations, more eyes will come to the NFT space, leading it to mass adoption. It is no secret that nonfungible tokens (NFTs) are still a niche subject. Despite their rapid surge in popularity during 2021, there is still a significant percentage of people who do not know what an NFT is. Reflecting on the graph below, it is evident that a lot of work needs to be done for NFTs to truly hit the mainstream.However, it is clear from recent months that there is potential for this to happen, and there have been many signs of awareness and adoption which....
Last year, the DeFi summer led crypto adoption to mainstream attracting bigger players into the sector, this year, the massive adoption of a non-fungible token (NFTs) is the hot cake on everyone’s menu, both crypto enthusiast and non-crypto enthusiast. NFTs which started as a small sector within the blockchain and cryptocurrency industry have witnessed explosive […]
NFTs are moving into the mainstream, but this requires a streamlined and trustworthy experience for the general public’s mass adoption. Nonfungible tokens (NFTs) have been in the headlines for the past few years. While swaths of the population have tried to get their head around why NFTs exist, demand has soared, institutions have been built, and the lingo has entered our collective consciousness.There is an elephant in the room, though: NFTs are difficult to use and a majority of them are digital snake oil. But these problems create the opportunity to provide answers. The accessibility....