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The recent drop in NFT sales has led many to think that their days are numbered. NFT expert Nest Arcade thinks otherwise. He shows why he believes that NFTs are guaranteed to bounce back after a short slump
All’s well that ends up. And if it doesn’t, perhaps it’s not the end. The world is full of stories where people, businesses, enterprises, and ideas were cast down after one no-show. A small failure here, a loophole exposed there, has led experts and non-experts alike to cast their doubt and despair on things they don’t fully understand. NFTs are one such area. It’s a field that’s finding its feet on the go, but there’s something to it that has got people’s attention. Their recent drop in sales, however, has led many to think that their days are numbered. NFT expert Nest Arcade thinks otherwise. He shows why he believes that NFTs are guaranteed to bounce back after a short slump.
It created an unparallel sense of ownership
Non-fungible tokens or NFTs are designed in such a way that they cannot be copied. They put their own in ownership. This, in fact, is one of the biggest reasons for their success and, according to Nest Arcade, will also be the biggest reason for their return. He says, “Think in terms of an art collection. Anybody can buy prints. Anybody can produce prints. But the owner or the collector of the original piece will always be one. It’s the same with NFT. They create a sense of exclusivity that seems to appeal to many people. To know that you own something in the form that nobody else does can boost your mood and morale greatly.”
It’s more than just collecting
Though most people equate NFTs with collective original and lucrative collectives, NFTs themselves have been able to break through that limitation. Nest Arcade says, “There’s more to NFTs than collecting. For instance, they can be used as special digital keys that help you access special discounts, offers, privileges, and memberships. It’s still an expression of exclusivity but is vastly different in terms of its possibilities.”
People are slowly moving towards the Metaverse. Pulled by its uniqueness and promises, consumers are opening up their minds toward the infinite possibilities that can be generated in Metaverse. NFTs are one of them. Nest Arcade says, “Metaverse and virtual reality might have spelled doom for other things, but as far as NFT goes, it’s right on point. The virtual universe is developing as we speak, and it’s here that NFTs will truly come into their own. Anyone who’s using Metaverse is aware of the potential that lies hidden in NFTs despite the progress they have already shown. For many Metaverse users and certainly its creators, NFTs will play a significant role in taking its economy forward in the future. I tell all the naysayers to watch their word and also keep an eye on the NFT. The comeback might happen when they least expect it.”
It’s true that all’s not well and rosy in the world of Metaverse. However, Nest Arcade ‘s optimism has some weight to it. However, only time will tell what the future holds for NFTs.
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The reader is further advised that Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions.
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