NFTs will have wide applications once hype settles
Emerald expert briefings · 2022
Significance Yet NFTs divide opinion over whether they are a bubble waiting to burst or will redefine ownership of digital assets and become a core element of the metaverse. The two outcomes are not mutually exclusive. Impacts Digitisation will increase the need to replicate physical properties such as scarcity, uniqueness and proof of ownership of digital assets. An NFT's value is based on what a buyer is willing to pay for it, making it a speculative alternative asset class for investors. NFTs mostly require a cryptocurrency to purchase, thus tying their value to another volatile asset.