Will We Find Purpose for the Millions of Worthless NFTs?

The cliché that 99% of NFTs will be worth nothing has been propagated online far and wide. But it doesn’t have to be this way. Even though certain NFTs may be hopeless investments, that doesn’t mean they cannot still provide a utility.

Overarching games or agnostic use cases can bring purpose to ALL NFTs, not just the ones that appreciate in worth.

For example, I’m drawn to a project called MetaSports Basketball. It’s an NFT-based basketball game that allows users to import any NFT character as their in-game player. It also populates their player stats in accordance with the rarity traits associated with the project. This means that any of those PFPs you thought were going to the moon (but never got off the ground), now have a utility outside of a hopeless investment.

In the video below, I discuss other ideas for general NFT utility that could give our worthless NFTs purpose again.

There’s a real opportunity here. Between the thousands of PFP projects and random artwork, nearly every NFT collector has at least a couple of NFTs in their wallet that are worthless from a monetary perspective. But that shouldn’t prevent us from still getting value out of these NFTs.

If I were looking to start an NFT project, this is where I would focus my attention. If you can provide some sort of fun or engaging experience for people’s worthless NFTs, then you’re looking at a huge user base right off the bat.

For more information on the topics discussed in this newsletter, head over to https://NFTQT.com

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