Mainstream NFT adoption will be driven mostly by their utility
Cointelegraph
Published Oct 05, 2022 09:03AM ET
Updated Oct 05, 2022 10:40AM ET
Nonfungible tokens (NFTs) have seen a stratospheric surge in popularity accompanied by sky-high values, giving rise to legitimate and ongoing worries about a market bubble, as many projects lacked real-world application or utility.
NFT utility is an essential component because it adds value and functionality to the technology. One of the most well-known use cases for NFTs is the ownership of digital art pieces like CryptoPunks. Play-to-earn (P2E) gaming is another use case that had massive popularity in 2021.
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Written By: Cointelegraph
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