The NFT Bubble Has Popped. Should Businesses Care?

What is the future of NFTs? After a major boom over the first half of 2021, new research shows that the bubble has popped. At its height, crypto-collectible sales peaked at $100 million in a single day but have since dropped nearly 90%.

To discuss the ups and downs of NFT markets, Larry Pang, Head of Business Development for IoTeX joined Daniel Litwin for insights into the future of crypto-collectibles and the internet of things.

“I think the drop in NFT prices is temporary,” Pang said. But he believes that the uses and applications of NFTs will continue to evolve. “What we’re seeing a lot in the business today is not just thinking about NFTs as an asset that’s simply tradable and ownable, but there’s a lot of people innovating on both how NFTs are created as well as how NFTs are attached to secondary markets.”

These markets may include gaming, fantasy sports, and intellectual property licensing. Because of these innovations, Pang remains bullish on future applications and investment in NFTs as they move beyond the collectibles market.

Will the merging of the digital and physical worlds make NFTs a valuable proposition going forward? How should businesses that invested heavily in NFTs adapt to the changing market? How will the Internet of Trusted Things use NFTs to build connections between creators and their audience? Litwin and Pang delve into the insights investors & industry professionals need in this rapidly evolving market.

Follow us on social media for the latest updates in B2B!

Twitter – @MarketScale
Facebook – facebook.com/marketscale
LinkedIn – linkedin.com/company/marketscale

Follow us on social media for the latest updates in B2B!

Latest

value of the skilled trades
Recognizing the Value of the Skilled Trades
February 1, 2023

People value skilled trades for the everyday necessities they bring to life. From plumbing to electrical, machinists, and construction, trades play a vital role worldwide. They make the world happen. Unfortunately, there is a growing gap in the skilled trades workforce, despite high wages, employer-funded training, readily available positions, and the opportunity to apply […]

Read More
Inflation rates
Inflation Rates Ease, But Long-Term Contracts Keep Prices High
February 1, 2023

With inflation rates easing and shipping costs dropping along with several commodities (not eggs), consumers may be wondering why they haven’t seen a noticeable price difference yet. Blame it on supplier contracts. A typical procurement practice is shoring up supplier contracts in advance, which means prices could hold for several months. The longer high prices […]

Read More
The Trend of Procuring Online Education Intervention Solutions
February 1, 2023

Education systems that have taken a metered approach towards spending for instruction materials are also using this methodology to procure online education intervention solutions. Estimates put the overall global Online Tutoring Market at 6.52 Billion in 2021, and experts believe that number could reach over 19 Billion a year by 2030. And while online […]

Read More