NFT Hype : What if the Bubble Bursts?
Non Fungible Token or NFT were one of the latest addition to the crypto space and we saw it exploding an year before back in 2021. Users spent and earned millions selling buying these NFTs.
And probably you may also be aware of the cases of wash trading that happened some time ago, which might have also created some concern for the people who are somehow involved in NFT.
What if the NFT bubble Bursts?
Now, we don't know for how long the NFT hype may continue but this question might also arise in your mind that what if people lose interest in NFTs and what if its bubble bursts?
We can't say about the future but there may be some NFT use cases that might continue to give oxygen to the world of NFTs.
Gaming NFTs
Play to earn games are the latest addition where players play games and are rewarded with the tokens as well as the collectibles or NFTs.
These NFTs may then be sold, gifted by the owner to the rest of the players which means that money may keep flowing through these NFTs making these NFTs stay in the market.
Digital Collectibles
Digital collectibles again could be the use case for not letting NFTs die.
There might be people who would like to collect digital arts or other memory being digitalized.
Apart from these,
NFTs can be used by big companies in providing memberships to its customers where they may utilize the NFT in order to get access to company's services.
Consumer loyalty programs may also be awarded in the form of NFTs.
Artists can also benefit from selling their digital arts by minting it as NFTs and selling it in the market.
Metaverse again, if is gone trending that may also boost the market of NFTs. Like an owner of the digital land or a building might want a few digital arts or other stuff to showcase it in his digital land or building etc.
These are some of the use cases which could provide oxygen to NFTs. Probably we may have more use cases as well. Only time well tell.
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The bubble bursting might be a good thing. As with all technology, things can get ahead of themselves.
A bubble is financial. The technology (and future of NFTs) is amazing. A lot of what we see today is just hype and needs to reset.
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Yep. Anything in hype doesn't represent its true value probably.