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Home Business NFTs’ actual value is still to be determined By Cointelegraph

NFTs’ actual value is still to be determined By Cointelegraph


Beyond the hype: NFTs’ actual value is still to be determined

It’s 2021. Super Bowl champion Tom Brady is starting an NFT company, Christie’s is explaining CryptoPunks to everyone, Saturday Night Live is creating jams about NFTs, Beeple and Mark Cuban are advocating NFTs’ use case — yet, here I am, the CEO of a company that helps users securely store their nonfungible tokens and I still think the actual value of NFTs is to be decided.

It’s important to back up and remember that, although it seems like we have all always known about NFTs, the opposite is true. Up until this year, NFTs were not only a novelty idea that would never be a story on cable news, but their use case was still being worked out in the blockchain industry. Although the recent hype has been fun, I believe that this current iteration of NFTs is far from the game-changing, revolutionary potential that they can truly unlock for entire industries.

Kosala Hemachandra is the founder of noncustodial wallet MyEtherWallet (MEW). Since 2015, MEW has been a leading wallet interface for the blockchain. Today, MEW provides convenient and secure access to the entire Ethereum ecosystem, including DApps, DeFi and beyond.