Solana co-founder says NFTs have ’50 completely different use instances’ that may onboard hundreds of thousands this 12 months – TechCrunch


It seems like yesterday that the NFT growth captured the eye of the crypto neighborhood, making waves even outdoors the web3 world. However a 12 months or so down the road, the NFT hype has considerably died down. However that isn’t stopping some within the crypto world from staying optimistic about non-fungible tokens.

Whereas a lot trade focus and energy has centered round profile image NFTs like Bored Ape Yacht Membership or CryptoPunks, NFTs that supply utility past simply pictures have been rising in reputation.

“I feel inside NFTs, the whole lot is simply actually scratching the floor,” Raj Gokal, co-founder of Solana, instructed TechCrunch this week. “I feel NFTs have 50 completely different use instances that appear to be lumped into one. I feel we count on the vast majority of the [crypto] initiatives to utilize NFTs.”

New NFT use instances stretch from gaming to music, and Gokal is seeing sufficient startup exercise centered on these areas to really feel optimistic concerning the digital property extra typically.

“There’s a sort of wave of latest NFT merchandise [coming] that might onboard hundreds of thousands of customers in Q3 and This fall,” Gokal stated. Moderately than simply fascinated about rising the Solana ecosystem, it’s extra thrilling to look at it develop via builders and creators, he added.

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