Web3 Experts Identify Innovation and PR as Key Challenges for NFT Adoption

As it pertains to NFT s that have set foot in the sphere of cryptocurrencies, professionals in Web3 report noteworthy hurdles to wider concern. As stated by insiders, these problems consist of the absence of fresh narratives, a damaged image of the Web3 industry as a whole, and the intricacy relating to NFTs and other related fields in terms of user experience.

Cointelegraph contacted representatives of the industry to know what hinders the use of NFTs and how to eliminate these issues.

Lack of Innovation and Fresh Narratives

The NFT space, as well, stands in a problematic position, in regards to ideas and narratives, according to Dave Catudal, co-founder of the Lyvely social monetization platform. Catudal notes, “The main issue with reluctant adopters is the lack of innovation and fresh narrative in the space. ” He argues that the market doesn’t have a “tech problem” but rather a “PR problem,” stating:Catudal notes, “The main issue with reluctant adopters is the lack of innovation and fresh narrative in the space. ” He argues that the market doesn’t have a “tech problem” but rather a “PR problem,” stating:

“Such hype, frauds, and malicious actors came dangerously close to derailing the nascent market back then — designers must reestablish NFTs’ initial value proposition of making digital goods scannable, unique, and sellable. ”

Tyler Adams, the CEO, and co-founder of the Web3 firm COZ concur and assert that the image problem plaguing the rest of Web3 also affects NFTs. “The main problem is the name of everything that has to do with the Web3 universe. Sadly, foolish individuals with bad intentions harm the entire industry’s image.

Complex and Intimidating for Non-Technical Users

James Toledano , the COO of the Web3 wallet company called Savl, says that the difficult procedures of developing, purchasing and utilizing NFTs is also a potential issue. Toledano adds that “It is necessary to demystify these processes” to promote the adoption of NFTs by the general population.

Gabriele Giancola, co-founder, and ceo of Qiibee that deals in tokenizing loyalty programs also agrees and posited that the NFT niche lacks application due to technical issues and speculations. Giancola emphasizes that the latter concerns should become the actual recognition of NFTs as they provide valuable, usable items.

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