Ellen Britt for CNT #NFT
We have already pointed out that NFTs are headed more and more toward utility and away from fuzzy jpegs of bored apes, so let’s take a look at what an expert tech panel has to say.
NFT art is not going away, but we will see an increasing trend toward adding utility to the use of NFTs, even with artwork. Plus, the use of NFTs as pure utilities will also expand.
We have been seeing the prices for NFTs that represent digital art continue to decline after the oxygen depriving heights of last year. But a recent tech panel believes the future is still very, very bright for the innovative technology NFTs represent.
The tech panel was a virtual tech talk on the future of NFTs, and according to a report by Mark Parker of Catalyst, the panel was moderated by the managing director of the Tampa Bay Innovation Center, Ken Evans.
Panelists included Angela Dalton who is the founder and CEO of Sigum Growth Capital, based in Brooklyn and joined by Nicholas Grous and Frank Downing, both analysts for ARK invest, based in St. Petersburg.
The Panel’s Takeaways
The industry has no playbook and is learning as it goes.
For the past couple of years, there has been a lot of innovation, plus a great many good ideas have surfaced. What is needed is follow-through on those ideas and a push to build out these ideas will happen.
As far as a timetable, the panel agrees that we are likely looking at two to three years to see these ideas come into their own.
As far as long-term utility goes, the NFT artworld is only a very small fraction of what is possible.
Just like unexpected companies such as Uber and Lyft arose because of the internet, because of NFT tech, we will see companies bloom in the next 5 to 10 years which will take advantage of this new tech in unforeseen ways.
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