- According to Aptos Labs, Co-founder of layer one blockchain, NFT has the potential to be more than just collectibles.
- Earlier this week, Aptos’ token reached a new high of $16.46.
- Users can transact economic value and communicate with creators in a way that is not governed by a single entity.
Non-fungible tokens (NFT), according to Mohammad Shaikh, co-founder of layer one blockchain Aptos Labs, have the potential to be more than just collectibles. He made this assertion on Friday to CoinDesk TV’s “First Mover.” According to Shaikh, they are exceeding the boundaries of what they have seen in previous generations of blockchains with the way they think about NFTs.
With Aptos’ tokenomics, they really extended the boundaries of what they think an egalitarian dispersion should look like, and for folks like investors, at release, they have among the lowest dispersion for any investor across any protocol, stated Shaikh. He further claimed that in the past, they really couldn’t take them across different procedures and platforms.
According to CoinDesk, Aptos’ token, APT, reached a new high earlier this week, peaking at $16.46. Since the beginning of the year, the value of the token has increased by 350 percent.
Aptos, according to Shaikh, is primarily relying on existing and new users and developers to drive the platform’s achievement. This is despite concerns that Aptos’ APT token distribution favored the platform’s investors and foundation, which did receive nearly half of the 1 billion tokens issuance during the October mainnet release.
NFT enables holders to prove ownership of a digital item and ought to have a chance to live in things like games as well as social platforms, according to Shaikh.
Pushing the boundaries of NFT use cases, according to Shaikh, can connect communities all over the world. He anticipates that NFTs will enter the mainstream in 2023 via major brands as well as a payment method.
Users can now transact economic value and communicate with creators in a way that is not governed by a single entity, Shaikh stated. Things are bound to change and become “a little funky” this year, 2023.