Based on his observations, the head of the YellowHeart NFT platform believes that collection tokens and cryptocurrencies will develop in parallel, since they are built on the blockchain.
Josh Katz said in an interview that the community will understand very soon that non-fungible tokens can increase the involvement of society and eliminate intermediaries in any of the areas of human activity:
“The growth potential in NFT uptake and adoption is huge, and the creative possibilities associated with it are endless.”
As an example, Katz cited the use of NFTs in ticket sales. According to him, this is one of the most attractive use cases for such tokens. According to the businessman, if the organizers of the UEFA Champions League used non-fungible tokens when distributing tickets, there would be no chaos caused by fakes sold by scammers to football fans:
“By providing permanent proof of the authenticity of each issued ticket, venues and artists have effective counterfeit protection.”
Katz believes that collectible tokens can become something more than bitcoin or altcoins. He is confident that there is room for both segments of the cryptocurrency market as the two blockchain-based technologies have their own unique capabilities and use cases.
“Cryptocurrency is changing how we make payments, and NFTs are being used to provide digital ownership and identity in new ways,” emphasized YellowHeart platform CEO.
Multicoin Capital founder Kyle Samani compared the development of NFTs to the evolution of Internet web pages. According to him, the development of the NFT will consist in the formation of dynamic links between collectible tokens and the change in their value over time.
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