Future of NFTS

Name: Future of NFTS
Uploaded: 2022-05-31T18:49:40+00:00
Duration: 31 s
Channel: Ryan Maloney
Description: Ryan Maloney says the term NFT will become obsolete as on-chain assets become normal, like how VHS and MP3 faded. When houses, cars, and businesses live…

31 May 2022 · 1 min

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Ryan Maloney says the term NFT will become obsolete as on-chain assets become normal, like how VHS and MP3 faded. When houses, cars, and businesses live on-chain, people will stop asking if something is an NFT and start asking if it's on-chain. He compares this moment to aviation before commercial flights took off.

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NFTs will fade away. So did VHS, DVD, and MP3. Transacting with NFTs reduces friction, time, and cost. When the term NFT fades away, we'll say something like, is it on-chain? Is your house on-chain? Is your car on-chain? Is your business on-chain? When everything is on-chain, you'll easily be able to trade it. People are comparing NFTs to the dot-com bubble, but that's the wrong analogy. The correct analogy is right now the airplane is being invented, but pretty soon we're gonna have commercial flights. That's the point everything will be an NFT and