NFT
Reviving NFTs in the Crypto World
Thursday. July 25 at 5:30 AM
1 min. readThis week's newsletter explores the resurgence of non-fungible tokens (NFTs) in the Web3 industry, with Pixelverse launching its native tokens and rewarding NFT holders. Despite a 45% decline in sales volume in Q2 2024, Web3 professionals are optimistic about the potential comeback of NFTs. Senet CEO Mohsin Waqar believes that as industries integrate NFT technology, interest in NFTs will peak again. Additionally, challenges such as lack of new narratives, crypto's reputation issues, and complex user experience hinder mainstream NFT adoption. The ApeCoin DAO member's proposal to transform a Bangkok hotel with a Bored Ape Yacht Club theme showcases innovative NFT utilization. The project aims to offer ApeCoin holders free accommodation and unique experiences. Stay tuned for more updates on the evolving NFT space next week.