I don’t know about you, but it looks like we’re in the ICO stage (2017) stage of NFTs. Quick cash grabs, high floor prices, etc.
Beyond art, I see so many other applications for NFTs. Example: Michael Jordan creating a fan engagement platform with NFTs, companies like 4K turning physical goods into NFTs to leverage, music platforms that sell NFTs to redeem for experiences, etc.
What other applications do you guys see for NFTs?
NFTs are definitely picking up in the crypto trend. Great few examples of this is how NFTs are now intrinsic of the play to earn game mechanics, how NFTs are generally used as blockchain-stamped proof of asset ownership, and more recently as collateral for lending/borrowing.
However, with all of these models in place I'm not convinced that we're there yet to really use the power of NFTs. One limiting factor for this is of course the technology as most traditional NFTs are minted on Ethereum where the fees can be substantial.
So, the way I view it NFTs do have a place, they do have a bright future and I think we're just touching the tip of the iceberg.