According to Cointelegraph, Jana Bertram, Head of Strategy at RARI Foundation, discussed the current state and future of non-fungible tokens (NFTs) in a recent episode of the Hashing It Out podcast. Despite a noticeable decline in NFT trading volumes, Bertram emphasized the enduring significance of the technology. She suggested that while the initial NFT bull market has passed, the potential for digital collectibles to empower creators and enable innovative applications, such as real-world asset tokenization, remains strong.
Bertram highlighted ongoing challenges within the NFT space, particularly the debate over royalties. Some NFT marketplaces have opted to make royalties optional, which has significantly affected creators' earnings. This shift has prompted the industry to reevaluate how to balance the rights of creators with market dynamics. Additionally, the conversation touched on key issues in the Web3 space, such as scalability and affordability. Bertram noted that improvements in blockchain infrastructure have made NFT transactions more cost-effective, addressing previous barriers to adoption.
Looking forward, Bertram envisions NFTs expanding beyond digital art and collectibles, with a greater focus on practical applications like identity verification, ownership records, and healthcare documentation. However, she acknowledged that public perception remains a challenge, as NFTs are often associated with speculative trading and financial losses. Despite the market cooling, the underlying technology continues to evolve, promising broader applications and more inclusive participation in the future.