NFT market slump shows it’s maturing toward ‘genuine utility,’ execs argue

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NFT market slump shows it’s maturing toward ‘genuine utility,’ execs argue
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With claims that 95% of NFTs are worthless, two digital asset executives argue the NFT space hasn’t regressed but is instead maturing by becoming more utility-focused.

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Decentraland Foundation executive director Yemel Jardis believes as people become more educated about NFTs, the focus will shift from speculative trading to genuine utility.A steep collapse in the price of nonfungible tokens shouldn’t be seen as a sign of distress but rather a signal the technology is maturing, according to Web3 executives.

“As people become more educated about NFTs, their use cases and their utilities, the market will stabilize and the focus will shift from speculative trading to genuine utility and innovation.” “Any innovation — especially this one with financial impact, cultural value and status — will attract questioning during its downs,” she said.

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