The Widespread Adoption of NFTs: Simple Solutions Needed for Users
The CEO of Gorilla Funds, Jakob Sievers, believes that the widespread adoption of NFTs is on the horizon, but there are several hurdles that need to be overcome. During his talk at NFT Show Europe, Sievers highlighted the complexity of NFT technology, high-cost barriers, and the reliance on crypto wallets as obstacles to mass adoption. He provided examples of potential NFT adopters such as artists, event organizers, and fitness companies.
Key Points:
- The complexity of NFT technology and high-cost barriers hinder mass adoption.
- Possible strategies for overcoming these obstacles include offering accessible solutions for minting NFT smart contracts, combining NFTs with existing web2 solutions, and making the design user-friendly.
- Hybrid web2-web3 solutions can help ease the transition to NFT adoption by providing a familiar framework for users.
- User-friendly components for tickets and coupons, as well as the incorporation of fiat payment solutions, could further drive adoption.
- The development of “digital twins” for everything, realized as NFTs and linked to the real world, is seen as the future of the NFT market.
Gorilla Funds CEO’s Take:
Jakob Sievers believes that software needs to be developed to make NFTs as easy to use as typical web2 applications. He emphasizes the importance of simplicity and helping people transition slowly to using NFTs. Overcoming fear and providing alternative solutions to wallet usage are also crucial in driving mass adoption. Sievers also envisions a future where everything has its digital twin in the form of an NFT.
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