Currently, NFTs face a kind of major problem lack of trust from the investors and less accessibility. NFT 2.0 will make NFTs mainstream by adding trust and accessibility for the general public to experience the digital realm.
NFTs are growing apace since their advent on the internet. The digital space of NFTs seems to have overcome the “fad” termed that has been associated with it as it strengthens its space on the internet. The market cap of NFTs has crossed over $38.7 billion with over $3.4 billion volume in January this year.
related: Are Stablecoins Really That Stable?
The New Way: NFTs 2.0
Since the NFTs are valued in Cryptocurrency value and the market is already in the dump, there’s a decline in the value and trade volume. The sales volume of NFTs topped $17 billion in 2021, and it is believed to cross the $147 billion by 2026.
NFTs have massive adoption, and the growing sales volume reveals this fact. Companies like Amazon, Walmart, Spotify, and Marvel are getting into the NFT space. NFTs have a lot of room to evolve: starting from the free mint of Crypto Punks to the blue-Chip Bored Ape Yacht Club, NFTs have changed a lot.
One major problem for the current NFTs is their volatile value and the lack of a proper system to determine the value of these NFTs in the first place. In the early days of the internet in the 1990s, developers used to code emails for companies because there was less accessibility for the general people.
Currently, the NFTs are passing from the same phase, and with 2.0 being launched, there will be more accessibility and trust in the blockchain assets. NFT 2.0 are the next generation NFTs that have the ability to perfectly execute their roadmap, provide the promised value to their buyers and minimize the difference and interaction between a buyer, seller, and the creator.
NFTs 2.0 are designed for mainstream consumption by onboarding a smooth experience, particularly for the Crypto and NFT novice. In the current scenario, those who are trying to get rich early and are backed with good hype and marketing are more likely to succeed than a real creator. The core purpose of the NFT 2.0 is to incentivize the true builders and make the NFTs exactly what they were meant to be.
Conclusion
We haven’t explored the true potential of NFTs yet. It barely matters if you’re an investor, a creator, or a seller, the uptrend trajectory will take you along to the moon.
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sources: opensea, nftgo, twitter
author: mnmansha
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
