7 crypto leaders discuss ways to combat the stigma surrounding NFTs

cointelegraph.com:

There’s widespread public confusion around much of what the crypto industry does and is hoping to achieve, but it’s likely there’s no facet of the space that has attracted as much negative attention as nonfungible tokens. From environmental concerns about the tokens’ carbon footprint to the “you don’t really own anything” disdain of so-called “right clickers,” the NFT truly seems to be a love-it-or-hate-it product. 

Convincing the doubters that NFTs are more than just status symbols or high-risk, high-adrenaline investments will take a blend of education and a commitment to tap into the technology’s demonstrable utility. Below, seven members of Cointelegraph Innovation Circle share strategies to combat the mainstream stigma surrounding the NFT space.

Many NFT collectibles are not providing any utility beyond collectibility and are making money based on speculation. Not all NFT innovations need to be net-new creations; they could just prove that there’s a new way to deliver or unlock value for intellectual property, rights holders, creators and so on. – Chris Ghent, NEAR Foundation

A lot of NFT projects are struggling because they don’t have a sustainable business model other than creating hype and hoping to get more sales from the secondary market and royalties. But in most cases in this bear market, this does not work anymore. Only the companies and projects that continuously deliver real value to the holders will survive and continue to grow. – Cindy Jin, Mintology

Leading with utility is always the best — and not a “this is what we plan to do” type of utility, but a real-life, currently existing utility. Unless you are backed by notable names, the days of launching with just a roadmap are over and will be met with an eye