This platform’s EFT standard makes trading downloadable encrypted content accessible
In 2021, Forbes hinted at NFTs being the future of e-commerce, a reality that is becoming increasingly apparent today. Amanda Cassat, ex-chief marketing officer of ConsenSys, went even further, predicting:
“I think every single e-commerce store is going to turn into an NFT store.”
This view is supported by the increasing integration of NFTs by major brands like Louis Vuitton and celebrities such as Snoop Dogg. However, the driving force behind NFT adoption isn’t just high-profile endorsements but also meeting the evolving needs of customers actively participating in the NFT space.
Furthermore, with businesses like NVIDIA and Unity, and metaverse-based projects like Roblox, Decentraland and Sandbox heavily investing in the Metaverse — a key use case for NFTs — it’s clear that the e-commerce sector is on the verge of a significant shift, regardless of market uncertainties.
Unfortunately, one barrier still remains before this major transition, and it comes in the struggle for ease of use in the NFT space. On the one hand, e-commerce platforms are simple and provide users with a service to purchase whatever goods they need in a digital storefront. On the other hand, NFTs provide a versatile platform for content creators such as musicians, videographers, photographers and even freelance designers to monetize their work. Each artwork or design piece exists as a unique offering, ensuring creators receive royalties each time their work is sold and changes owners.
Furthermore, in sectors like the freelance market, on-chain payments allow designers to receive due compensation and companies to validate asset ownership. NFTs also facilitate sales of books, articles, databases, documents and 3D models in a verifiable manner. Despite this
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