The Future of NFTs: Why We’re More Bullish Than Ever.
The market continues to trend down, and even post ETH merge the token continues to fall in price. The downtrend is clearing out speculators and those in it for a quick buck. While builders continue to build. The innovations made during this period will serve as the catalyst for the next upswing. This is why we are more bullish than ever.
We are building now so we can be at the forefront of the next crypto boom
The Future of NFTs
NFTs are like barcodes on steroids. They are unique, permanent, transparent, and with clear ownership. They are the building blocks, the atoms of the digital universe. The existing products have disrupted the art, music, and gaming industries. Web3 creators are earning more now than ever before compared to web2. On Ethereum alone, creators have earned $3.9 Billion dollars. With an average payout of $174K per creator.
NFTs are not done disrupting. We imagine in the next 10 years that they will be a part of every industry. We may not even call them NFTs. Check out some key areas prime for adoption below.
- Real-world assets: receipts, ticket stubs, deeds, and contracts.
- Supply chain: Track goods from production to delivery.
- Identity management: Store immutable information on-chain and unlock new forms of credit.
- Decentralized Marketplaces: cut out the middleman and use AMM (auto market makers).
- Digital Collectibles: Interoperable game assets, merchandise, and art.
Trending to Digital Ownership
As a society, we continue to spend an increased amount of time online year over year. Look at COVID and post-COVID, most social connections anyone had were online. Schools transitioned online, businesses worked remotely, and even social outings went online. Being online has become part of the social fabric of our lives. The next step will be to transition from not owning our digital lives to owning them.
In web2 we own nothing. Corporations take our data that we willingly give, and package it to the highest bidder. The concept of owning your digital identity and its assets is a novel idea. NFTs provide us with the tokenized version of that ownership. With ownership comes value. Anything of value can create demand and trade. With the boom of trade, the need for fair market valuation is a necessity.
Why Valuation Matters
To create symmetry in the marketplace, users need an easy way to valuate their digital assets. Especially for assets that are in the “sweet spot” of low trading volume, low price discovery, and high subjectivity. Beyond Rarity is eliminating the guesswork. You don’t have to fumble through 5 separate windows and discern how to trade. With the glance of an eye, you’ll see what is over or underpriced in seconds.
Use cases have begun to emerge for valuation. Taxation, the reporting of realized and unrealized gains requires an estimation of value. Asset-backed loans through lending protocols can deviate from under-floor pricing structures. Leading to higher earnings on APYs for lenders and extra liquidity for borrowers. Marketplaces adopting valuation unlock price guardrails for consumers.
Fair valuation creates a smarter and safer market
We envision becoming the de facto market standard for NFT valuation. Both businesses and consumers alike benefit from standardized pricing. For end users, imagine searching any NFT and immediately seeing a fair market price. Click that result, and you’ll see the confidence rating. Dive even deeper into a host of insights that generated the fair price discovery.
Looking for a better way to value your NFTs?
Projects
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Wrapping things up.
The markets are down but the future is bright. If you zoom out, you’ll see more new wallets being made every day. First-time buyers are still entering the market. Even more, smarter people are building this cycle compared to the last. Innovation will hit a tipping point. Yes, we are still early and much needs to improve to reduce friction for mass adoption. As we previously mentioned, the UX of crypto is not friendly and comes with a steep learning curve. These hard edges need continuous refinement to make the experience as smooth as possible. Friction points aside, that does not change our conviction on the bullish outlook for NFTs.
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