CryptoNewsBreaks – Upstream Discusses Value of Speculative vs. Utility-Based NFTs
In its latest blog, Upstream, the retail trading app for stocks and NFTs, addresses the value of speculative NFTs in the current market. The blog highlights the “harsh reality” that a dappGambl report has declared the vast majority of NFTs virtually worthless.
The initial hype surrounding speculative NFTs attracted celebrities, artists, and eager buyers hoping to capitalize on the digital trend. However, the blog acknowledges that the market has become oversaturated, leading to a decline in enthusiasm. Factors such as environmental concerns, the crypto winter, and speculative risks have also impacted the NFT space negatively.
Despite these challenges, Upstream emphasizes that NFT technology does offer value beyond speculative trading. NFTs can create shared and exclusive experiences within communities, timestamp key events and moments immutably, and potentially pave the way for future innovations in Metaverses.
Upstream has always advocated for NFTs as a means of fan engagement rather than a speculative ride. The blog cites several companies, including American Express, Lufthansa Innovation Hub and Miles & More, and Diesel, that have leveraged NFTs in unique ways to enhance brand campaigns and provide collectibles for their customers.
Upstream’s mission is to unlock the full potential of NFTs for everyone. Their user-friendly trading app simplifies the process of creating, purchasing, and trading NFTs, focusing on utility-based NFTs and genuine fan engagement. While the speculative NFT market faces uncertainties, Upstream remains committed to empowering users and redefining the future of digital assets.
To read the full blog, visit the provided link.
About Upstream:
Upstream is a fully regulated global stock exchange powered by Horizon Fintex’s proprietary technology. The platform enables investors to trade shares in dual-listed companies, NFTs, IPOs, crowdfunded companies, equities, and celebrity ventures directly from the app.
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