For starters, I’m not hating on NFTs. I’m all in for them for the fact that they’re bringing a lot of exposure for crypto even among people who have never had any interaction with the crypto market.
And now that Instagram is working with Polygon to support NFTs on users’ profiles, this exposure will grow larger and larger especially considering the fact that minting will be so cheap on Polygon cause you could literally mint there for free. So its actually a great thing for crypto.
HOWEVER, I hate the fact that the VAST MAJORITY of capital and resources is being directed towards NFT art and isn’t being invested into expanding NFT technology to expand its uses.
NFT can be used in many ways. Its one of the most diverse technologies in use cases right now cause they could be used with everything from legal papers, concert tickets and protection against brand counterfeit.
Again, the only value in NFT art right now is the fact that it’s giving crypto more exposure, but the uses I mentioned will give NFTs ACTUAL VALUE and I think we should start investing more resources into expanding NFT use cases.