Lovelace World
  • Abstract
  • Background
    • Limited Secondary Market with NFTs
    • Current NFTs are Without Purpose
    • Oversaturation of Non-Differentiated Marketplaces
    • The Case of Too Little or Too Much
  • Solution
    • Metaverse-as-a-Service
    • Incentivization
    • The Future of Crowdfunding
    • Interoperability
  • Our Products
    • Lovelace Marketplace
    • Comprehensive Creator Tools
    • LoveLoot Launchpad
    • Adanimals
  • Infrastructure
  • LACE Token Functionality
    • Governance
    • NFT Discounts
    • Native Staking
    • NFT Experiences
    • Lovelink Connector
    • LaceUP Launchpad
    • Economics
  • Our Stakeholders
  • Roadmap
  • Partners
  • Disclaimers
  • Additional Resources
  • Telegram
  • Twitter
  • Website
  • Github
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  1. Background

Current NFTs are Without Purpose

PreviousLimited Secondary Market with NFTsNextOversaturation of Non-Differentiated Marketplaces

Last updated 3 years ago

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The issue with such NFTs is that they are created with minimal dimensionality. Specifically, many high-priced NFT art assets and collectibles have very little to no utility, offering zero engagement for their owners and no long-term value creation potential. They are relinquished to sitting in their owner’s wallet with literally no use.

And yet NFTs are designed to be more than just stationary digital assets. They are engineered with the support of their blockchain ecosystems, enabling them to be interoperable with decentralized applications, or integrated with blockchain programs of their own. They enjoy the capability to support the full features of the blockchain ecosystem performing functions that standard fungible tokens are not capable of delivering.

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