The interest towards Non-Fungible Tokens is depleted. If there is no mission behind NFT besides its exclusivity it is quite boring.
NFTs that don’t have a clear mission fall down to rural offline mech. That must have happened and I’m looking forward to see people with exclusive NFT prints on their T-shirts next summer. No matter they own the original NFT or not.
But nevertheless, market leaders try to keep their projects floating with mech! Yuga Labs, the company behind CryptoPunks and Bored Apes, launched merch.
It is quite funny because online goes totally offline trying to squeeze last drops from former project popularity.
Tiffany says that 250 items were sold in 22 minutes with an average price of $50 000. Compared to NFTs sales – at least you get a T-shirt!
The mass market will likely follow that trend and abandon next season. After that all those CryptoPunks will become funny stories like “a man bought a pizza for a bitcoin”.
To make NFT projects more stable and long living there must be something really useful or valuable behind an NFT. Games are great examples. I’ve seen tons of collectible card games based on NFTs. The value is there. You have a unique strong card that you can use to beat other cards in the game.
Another example is lore in online games. NFTs can secure your ownership of unique or rare items. Again, the value is there as you spent some time or money to obtain those items. This way the NFTs become valuable to you and others.
Still, very few games use the mentioned NFT mechanics. Big ones are too old to adopt new technologies fast. Small ones are still growing. It means that there is still a lot of space to introduce new gaming mechanics using new blockchain technologies like NFTs.
If you are interested in this topic – feel free to contact me. I provide consulting services for new projects.
Read more about:
Blockchain application in Gambling
Leave a Reply