NFT 2.0
- Sathya Prakash
- Sep 10, 2022
- 1 min read
It is said that the NFT 2.0 era will be trustworthy and streamlined.
NFTs are moving into the mainstream, but this requires a streamlined and trustworthy experience for the general public’s mass adoption.
The current iteration of NFTs is not designed for mainstream consumption. Consumers have a difficult time onboarding; volatility damages true fans; and it skews artist-fan relationships.
Collections are experiencing rough demand shocks as they fail to execute on their road maps because of the vast discrepancy between their sticker prices and their value.
The core NFT buyer is becoming savvier to rug pulls and scams, which means they are less likely to mint new collections.
Although it's easy to look at declining volumes and see doom, the reality is that NFTs need a large washout to eliminate those looking to get rich quickly and attract true builders.
As the vaporware gets wiped out during a bear cycle, the antifragile companies that can weather the storm when shifting from Web2 to Web3 will thrive.
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