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Source: Crypto.com Research These roadblocks are anything but trivial, but we are seeing hopeful signs that the industry is beginning to address them. To address the user-unfriendliness of NFTs, blockchain-based games are beginning to rethink their approach to the user experience. From our perspective, we believe NFTs will have achieved mass adoption if there are millions of users interacting with NFTs without even being aware of these tokens’ existence – in other words, a seamless user experience. However, we should note, as the founder of Opensea does in this piece, that “abstracting away the blockchain,” although an interesting concept, ultimately are less attractive to the more hardcore community that comprise the early adopters that make up the NFT community today. Addressing the other roadblocks, on the other hand, is a matter of time. For real-world linkages, we are seeing more and more companies beginning to adopt NFT technology, in industries such as auction houses, consumer products, real estate, and more. Crypto.com 15 Difficult Real- World Linkage Even if NFTs can represent real world assets, actually guaranteeing a NFT holders’ claim to ownership on a real asset can be tough. For example, how can a user be sure that a NFT supposedly linked to a real-world asset actually guarantees him the ownership of a physical item? In order to achieve this, real world companies will have to issue their own NFTs or partner with crypto companies to achieve this. It is also questionable whether NFTs would confer any benefits over a traditional database. Regulation Due to NFTs ability to be used to represent real world assets, NFT projects run the risk of these tokens being considered securities and catching the attention of regulators. This can be a deterrent to developers who might be on the fence about building new NFTs. 15PDF Image | Crypto Com NFT Brief Introduction and History
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