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Alex Salnikov: Why NFTs Are Not Dead - The Future Of NFTs Powered By Brands And Developers

Published 08/11/2023, 16:45
Updated 08/11/2023, 18:10
© Reuters.  Alex Salnikov: Why NFTs Are Not Dead - The Future Of NFTs Powered By Brands And Developers
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Benzinga - By Alex Salnikov, Chief Strategy Officer and Co-Founder at Rarible will be speaking at the upcoming Benzinga Future Of Digital Assets. Mark Nov. 14 on your calendar for the must-attend gathering in the industry!

In a recent episode of "The Simpsons" NFTs were featured prominently in its plot, showing Marge battling with PFPs in order to extract Bart from "the blockchain," and the famous Nyan Cat meme dramatically proclaiming the "NFT craze" as finished. As the co-founder of Rarible, I watched with amusement and a sense of irony because, contrary to this pop culture punchline, the world of NFTs is bustling with silent innovation and persistent growth.

The Simpsons episode serves as a cultural checkpoint, a moment for us in the web3 community to consider the image of NFTs in the mainstream. It also highlights an opportunity to educate and develop new digital products that fit the needs of creators, brand managers, innovators and builders who are looking to launch and grow engaged digital communities.

The Silent Innovation Behind The Scenes Contrary to the fading hype narrative, NFTs are seeing a silent renaissance. Behind the scenes, there’s a burst of activity as emerging blockchains eagerly build out their NFT capabilities, signaling a shift towards NFTs as a prime consumer use case for these platforms. Simultaneously, innovative use cases are cropping up — from loyalty programs and SocialFi to gaming and fintech — all harnessing NFTs to deliver unique value. This innovation wave is fueling a resurgence, transforming NFTs from a mere digital curiosity into a cornerstone of digital interaction. This has piqued the interest of numerous consumer brands, like Starbucks, Gucci, and Mastercard eager to explore and stake their claim in the Web3 landscape.

Enter RaribleX: a response to this evolving ecosystem, crafted to cater to the new breed of blockchains, cater to the burgeoning array of NFT applications, and facilitate traditional brands in making their Web3 debut. It stands at the intersection of innovation and adoption, becoming the "Shopify of NFTs" by providing the tools for brands and developers to create and monetize their digital ventures with ease and security.

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