In a recent article published on ByBit’s blog, the company’s Head of Partnerships, Anndy Lian, has refuted claims that NFTs are dead. Lian highlights the outstanding growth of NFTs, reaching a total market capitalization of $10.7 billion at its peak. He acknowledges that while the market has seen fluctuations, NFTs are still very much in the public eye.
Lian defends the credibility and potential of NFTs, emphasizing their role in fostering creativity, providing financial opportunities, and driving a virtual cultural revolution. He mentions the success of ByBit’s own NFT collectibles, ‘The Velocity Pass’, which offers holders exclusive access and benefits related to the Formula One World Championship and Oracle Bull Racing’s RB19 race car.
The article also highlights other notable examples of NFTs making significant strides. Lian mentions Art Blocks’ generative artwork, created through computer program algorithms, and industry giants like Visa, Cola-Cola, and Marvel entering the NFT realm.
Lian goes on to discuss the benefits of fractionalizing digital collectibles, making top-tier NFTs more accessible to art collectors. He stresses that NFTs have the power to transform ownership and property rights, removing legal conflicts and offering hope to enthusiasts, investors, and creators.
Overall, Lian’s article provides a comprehensive and optimistic perspective on the current state of NFTs. By highlighting real-world examples and their transformative potential, he challenges the notion that NFTs are dead and paints a picture of a thriving and evolving landscape.
It is worth noting that the article does not mention the original author of the information provided.