NFTs are not dead, they’re evolving: Hashing It Out podcast
2024-12-05

In episode 65 of the Hashing It Out podcast, Jana Bertram, Head of Strategy at RARI Foundation, explores the state of non-fungible tokens (NFTs) and their future. Speaking to host Elisha Owusu Akyaw, Bertram acknowledged the decline in NFT trading volumes but argued the technology remains significant.
Return of the NFT? 
Bertram explained that the NFT bull market, which brought widespread attention to digital collectibles, is likely to return in a different form. 
“The NFT bull cycle already happened," she said, adding that while the hype has diminished, NFTs are still crucial for empowering creators and enabling innovative use cases, such as real-world asset tokenization.
One of the key challenges still plaguing the NFT space, as highlighted by Bertram, is the debate over royalties. Some NFT marketplaces have made royalties optional in recent years, significantly impacting creators’ earnings. 
Bertram noted this shift has forced the industry to reconsider how to balance creators’ rights with market dynamics.
Scalability and affordability
The discussion also hit two major touch points in the Web3 space: scalability and affordability. Bertram pointed out that advancements in blockchain infrastructure have made NFT transactions more cost-effective, addressing one of the barriers that previously hindered adoption.
Looking ahead, Bertram envisions NFTs expanding beyond digital art and collectibles with a bigger emphasis on practical applications such as identity verification, ownership records, and even healthcare documentation. 
However, she noted that public perceptions of NFTs remain a hurdle, with the term often associated with speculative trading and financial losses. While the market may have cooled, the underlying technology continues to evolve, promising broader applications and more inclusive participation in the years to come.
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