The interest and growth of NFTs has waned in 2023. However, these unique digital assets still have a bright future.
Written by: Mike Martin | Updated August 17, 2023
Video by: Ryan Grace
Fact checked by: Laurence Willows
Are NFTs dead? Ryan Grace at tastycrypto thinks not. In this video, he tells us why.
🍒 tasty takeaways
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Ryan, Tom and Tony discuss NFTs (non-fungible tokens) on Tasty Live
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NFTs are seen as more than just betting on token prices
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NFTs can be a bridge to Web3 technology
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NFTs are unique identifiers on a blockchain network
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They can represent digital collectibles, data sets, and investment positions
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NFTs can be programmable and have transferable ownership
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NFTs can eliminate the middleman in transactions
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NFTS may make Sotheby’s and other intermediaries less necessary
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NFTs provide provenance and authenticity
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Among other real-work use cases, NFTs can represent real-estate
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NFTs have experienced price crashes but sales are still growing
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Trading volumes of NFTs remain strong
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NFTs offer transparency through blockchain technology
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NFTs make trading collectibles easier and more liquid
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NFT marketplaces like OpenSea and LooksRare provide benefits and eliminate market uncertainties
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Pawn shops offer lower value for collectibles compared to NFT marketplaces
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The NFT marketplace has a global reach
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The NFT market is still in its early stages
NFT Use Cases
Additional Reading
Blockworks: 7 Real-World NFT Use Cases That Should Be on Your Radar
NASDAQ: NFTS How NFTs Could Change in the Future
tastycrypto: 7 Best NFT Coins and Tokens for 2024
Mike Martin
Mike Martin formerly served as the Head of Content for tastycrypto. Before joining tastycrypto, Michael worked in the active trader divisions of thinkorswim, TD Ameritrade, and Charles Schwab. He also served as a writer and editor for projectfinance.
Michael has been active in the crypto community since 2017. He holds certifications from Duke University in decentralized finance (DeFi) and blockchain technology.
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