CandleFocus Rest in peace, profile pictures. Long live NFTs! | Opinion
2024-10-16
Author: Content Editor
The author argues that NFTs still have potential despite their association with expensive JPEGs during the 2021 NFT craze. The speculation and inflated prices during that time caused many to view NFTs as a joke. However, NFTs represent a unique form of digital asset that cannot be seamlessly exchanged for another. They have the potential to transform digital ownership and provide utility beyond just digital art. NFTs can be used for exclusive access, collateral for loans, voting rights, and more. The author emphasizes the importance of understanding the rights conferred by an NFT and the need to avoid complex licensing agreements. Despite the negative perception surrounding NFTs, they are seen as an innovation that underpins the ongoing RWA revolution in the blockchain sector.
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