When will NFTs really live up to their promise?
Alex Wilhelm
8 hours
Quickly dismissing a nascent technology or tech company is an excellent way to get dunked on in the future.
From RIM’s CEO on the iPhone’s launch to Thomas Siebel brushing off Salesforce challenging Microsoft, there’s a long-running history of such mistaken pronouncements. Given the illustrious history of folks being wrong about the future, I am not going to say that non-fungible tokens (NFTs) are never going to become a mainstream technology. But I will admit at this juncture that I am becoming a mote impatient for what’s been promised.
NFTs fit neatly into the most recent crypto boom, with prices of many crypto tokens rising sharply, leading to huge growth in web3 wealth. A speculative frenzy formed around NFTs, leading to well-known projects like BAYCÂ and Doodles managing to raise money to build on top of their IP.
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But as crypto prices have come down, and with consumer interest once again entering a period of abeya …
