The future of NFTs probably won’t involve making huge profits. Instead, NFTs will offer utility to the end user of certain products.

The sentiment around this sub and other places is that NFTs as an investment vehicle is dumb and unsustainable. There are several posts showcasing the down trend of NFTs lately and that comes as no surprise and we have been in a bearish market for crypto for the past few months.

The hate around NFTs like BAYC is completely justified. They don’t do anything. They are attempts to make a nice profit but offer little to the average user.

Hell, the economics surrounding many NFT game projects such as Pixelmon make zero sense. There are less than 5k owners of that NFT project and they raised $70 million. Are they really going to spend $70 million making a game for 5k people? The only way to make that game worthwhile would be to create more NFTs and sink the value even more by creating more supply. This mathematical problem exists in many NFT game projects.

The future of NFTs won’t involve people making huge profits off the NFTs themselves. NFTs won’t involve scarcity and gambling. NFTs will be created to offer utility on other products, but will offer very little monetary value.

I’m too dumb to think of real world applications for NFTs that offer utility rather than monetary value. The example of an NFT that tracks a cars mileage is a good one that lines up with my thoughts. It’s there to be an immutable record of a cars history. It’s not there to be a scam that makes some rich and others stuck holding the bag.