What is the far-reaching potential of NFTs, and how can the NFT space address mainstream critique regarding data accessibility and wash trading? [CT Acceleration]
has been through its fair share of peaks and troughs, the potential to transform industries is inherent in this asset class. Unfortunately, there are still many points of improvement to be achieved before NFTs can reach the mainstream effectively.
Q: How would you address the mainstream critique that NFTs are not here to stay and are just a passing fad? There’s a key difference between data transparency and data accessibility. While blockchain technology has greatly improved transparency owing to its immutability and traceability, it’s still quite difficult to trace transactions for a non-technical person. Ergo, even if the data is transparent, if people cannot access the data to make informed decisions, the technology has no use to the people, thus restricting its mass adoption.
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