An easier way to acquire non-fungible tokens can help the technology gain traction.
On May 25, during the World Economic Forum (WEF) 2022, various presenters provided their views on where non-fungible tokens (NFTs) might be applied.
Seal Storage Technology CEO Alex Altman and Veritic CEO Stephan Holzer discussed NFTs' functions, significance, and various ways to introduce such digital assets to the general public during the Blockchain Hub Davos 2022.
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That being said, it was revealed that one of the most essential ways to encourage mainstream users' acceptance of NFTs is to streamline their access. “We want to enable the next billion and this needs NFT custody,” Holzer explained.
Seal Storage Technology is carbon-neutral, decentralized cloud storage established on Web3 that offers reliable access to data that is safe, sustainable, and transparent.
Likewise, Veritic is a company that brings institutional-grade non-fungible token custody that is fast to integrate for platforms and easy to access for end-users.
Minting in more secure places is also a missing component of what is needed for such users to start accepting the implementation of non-fungible tokens, Holzer said.
Moreover, Veritic CEO believes that a familiar interface and custodial services that do not require users to create their own wallets can change things for the better. On top of that, Alex Altman also highlighted the importance of NFTs by providing several examples of such digital assets that represent real-world objects like art, music, in-game items, and videos.
“There's absolutely no reason that a deed to a house couldn't be a unique digital asset as long as that asset is created and stored in the correct way. Given the fact that an NFT is purely unique, that asset can also be transferred really easily.”
The CEO also claimed that nowadays, a number of users just abandon the game after spending a significant amount of time playing it, causing all assets earned to vanish into thin air. However, with non-fungible tokens, gamers can “develop that asset and create it into a real-world piece of data that you can move, transfer and monetize.”
The World Economic Forum Annual Meeting 2022 took place in Davos, Switzerland, where more than 2,000 leaders and experts from all around the globe came to discuss how the state of the world can be improved.
In other news, Japan's entertainment multi-industry and video game company Square Enix announced that it would invest in Web3 games and introduce non-fungible tokens (NFTs) into extra gaming merchandise.
