NFTs seem to have taken over the digital market. Some of them have been sold for huge amounts of money, but the problem with NFTs is the fact that some of them lack utility. The hodler of such NFT gains nothing from it. When he wants to sell them, he has to wait till a buyer clicks on the offer; most times it takes months for this to happen.
Some musicians have their music as NFTs. Buying such NFT is indeed a way of showing support to the artist but to the buyer, he gains nothing for hodl the NFT. THESE ARE BIG CHALLENGES TO THE ADOPTION OF NFTS.
What can be done?
If NFTs can be used as a gate pass to events. If e-commerce companies can have a special discount attached to hodlers of their NFTs, if NFTs are staked. Then the adoption will be faster and people will see value for the NFTs they hold.
RE: VYB_POBSTREET 22-1-2022 #21:What's the fate of NFTs on the part of the hodler?