NFTs need utility because hype exists. In other words, NFTs need some intrinsic value rather than just playing on the emotions and speculations of people. 🧠
I feel like we’re starting to see the community prioritise collection that provide utility instead of a quick money making opportunity.
One tip I could give to anybody looking to produce their own NFT collection is to create something with value, provide UTILITY. — And the same for people just looking to invest in NFTs, search for UTILITY it’s simple.
Like I’ve mentioned before in the coming years when CBDCs (that we don’t agree with) get implemented and every member of society has a crypto wallet. Venues, cinemas, gyms etc will all produce their tickets and memberships as NFTs. 🎫
Specifically with tickets its purpose will be so the distributors can set up a smart contract inside every ticket which means they get a percentage when every ticket gets resold on the secondary market. Allowing them to capitalise on keeping potential extra income. 🔑
