SNEAK PEEK
- Value accessibility is a genuine utility for NFT networks.
- Utilities for NFTs play a major role.
- Utility NFTs are unique digital assets that give value in addition to monetary worth.
Global Macro Investor founder and CEO, Raoul Pal, tweeted on February 16, 2023, that one thing he’s sure to know about NFT is that the utility based on ecosystems can never be just more drops and a discord. It must be participation in a society with significant, tangible, and demonstrable advantages. Currently, the utility in the area is not truly useful.
NFT’s – One thing I do know is that “utility” based ecosystems can not be just more drops and a Discord. It must actually be a membership to a community with deep real, meaningful, measurable benefits.
— Raoul Pal (@RaoulGMI) February 16, 2023
Utility in the space currently, is not really utility. The space is wide open
Accessibility to value is a true utility for NFT networks, including access to events, products, people, or locations, for example. NFTs are a key to that access, which will define genuine value. Pal added,
It must actually be a membership to a community with deep real, meaningful, measurable benefits.
Moreover, utility NFTs are one-of-a-kind digital assets that provide value beyond their monetary value, such as rolling subscription perks, membership to premium, gated material, or exclusive access to real-world events.
He also shared his love for NFT arts and tweeted about one of his favorite NFT collections. He stated that it’s a “utopian” interpretation of the American Dream or Americana that employs photo art and generative AI to push the boundaries of reminiscence in a distorted dream state. It’s called “Life In West America.”
Life in West America is a post-photography initiative that looks at America as a notion, an aspiration, and the tales of the people that live there. The series is defined by Rainisto as a “post-photography effort diving deep into the complexity of the American environment.” The artist was inspired by early American color photography and created each of the 500 images in the series using a custom-trained artificially intelligent program.
