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Non Fungible Tokens Redefining Digital Scarcity

Published: 2021 Sep

Organization: Kraken Intelligence

Overview: Society is moving towards a digital world where expressions, creativity, moments, and entertainment are becoming digitized and memorialized on blockchain platforms. While NFTs started out as a niche sector, their evolution has caught the attention and introduced many new individuals to the world of blockchain and cryptocurrencies. We have seen impressive growth in the past few years and even the first half of this year alone, and it appears we have only scratched the surface. In the current ecosystem, NFTs and the storage of their metadata may come with risks that affect their sustainability, but as awareness grows, we believe that NFTs will successfully expand beyond art, sports, music, and collectibles. It will transform the way creators offer their goods and services to buyers, or even simply in the way individuals interact with others on the Internet. With the younger and more tech-savvy generation moving offline activities online, we believe NFTs will disrupt and transform the way we experience culture, trends, and interactions in our everyday lives. 


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