Stay away from NFTs if you’re speculator
Been waiting for the end of bear market, and FTX bankruptcy came of a sudden… crypto industry is literally impacted very badly, not to mention NFT market.
But from my observation, NFT has started to rebrand from a speculative product into real digital goods, as the decision to purchase an NFT is nevermore based on the returns it could bring.
When we are no longer talking about 100x of an NFT, what value should we expect NFT can bring to us?
Loyalty program, mass adoption
People who think NFT is dying are usually those who see NFT as a speculative opportunity for them to become a millionaire in a night, yet they are the minority.
Starbucks introduced Starbucks Odyssey in September, combining blockchain technology with Starbucks Rewards loyalty program. It will allow its customers to earn and purchase NFTs, i.e “star”, to unlock exclusive experiences and rewards, like free drinks.
The coffee dragon has stepped into the web 3 space, which is a great showcase to other companies who have membership programmes, like Asia Miles, to leverage NFT.
Apart from developing a loyalty program, what’s our focus?
Let’s back to the first day when NFT hasn’t become the topic of mainstream conversation….
True interoperability in games
Netizens always criticize on the difference between metaverse and web 2 online game, because they don’t understand the true value brought by NFT, interoperability.
When talking about interoperability, the project that comes to my mind is WorldWideWeb 3.
WorldWideWeb 3 allows different integrated NFTs’ hodlers to gather together in one metaverse and play! Many well-known projects have been onboarded already, for example Azuki Bobu, Chimpers NFT, Deadfellaz, 3Landers NFT, etc.
To explain interoperability in web2 example, should be like this: using the Battlefield gun to fight in CS:GO. Sounds cool, right? But it’s hard to execute in web 2, which can be explained in a simple way (Not the best explanation, feel free to comment with your opinion and insight!):
Database is not shared between gaming platforms. Therefore, Game A has no idea of what you own in Game B, unless these two companies exchange data with each other, but it’s obviously impossible. However, in web 3, data on chain is transparent, and can be seen by everyone. Everything is stored in your wallet and you can use that wallet to sign in to many platforms.
That’s why my NFTs are shown in WWW3 after I signed in my MetaMask on their website, with the premise that integration is done! )
Back to the first day
Some groups of people literally forgot the functionality of NFT. But the wave we are facing now is like an ice bucket pouring on our heads and clear our mind.
“The NFT will enable people to demonstrate and have an identity across platforms that they can clearly own and use on different ecosystems,” says Eric Anziani, COO of Crypto.com
In short, it’s a good news that NFT market is crashed. Because people can finally put their focus back on the tech development, neither the “NFT investment” nor "Potential 100x NFT research” !
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