NFTs had an exciting summer, but after the initial buzz wore off, research showed the NFT bubble had burst. What remained were several unique use cases of NFTs for fashion, sports, collectibles and more, and even with a less ravenous user base post-burst, high-profile players like Time Magazine, Nissan, and Neopets are actively launching NFT solutions.
With this continuing investment, we wanted to clear up some misconceptions around NFTs for professional applications, as well as understand what these service launches indicate for the future of NFT applications in a collectors context, as well as for content creators. For insights, we turned to Dr. Dustin York, Associate Professor at Maryville University in St. Louis. Here’s how he sees NFTs persisting, and what businesses still get wrong about non-fungible tokens.