NFTs will have a bigger future than crypto, predicts YellowHeart visionary — haere’s why

The head of the YellowHeart NFT platform believes that collectible tokens and cryptocurrencies will develop in parallel because they represent two different worlds. In a recent interview, Josh Katz stated that the community is close to a breakthrough in understanding how NFTs can increase engagement and eliminate mediators in any of their activities. Here are the main points of his interview on the future of NFTs.

The potential of NFTs has not yet been recognized

According to his experience, Josh Katz sees so much potential in NFTs that he thinks that in the development process, NFTs can become even more significant than classic crypto like Bitcoin.

Josh Katz said in an interview that the community would soon understand what the experts have already understood. NFT tokens can radically increase community engagement and eliminate mediators in any area of human activity. Both of these features are extremely important for businesses:

“The growth potential in NFT uptake and adoption is huge, and the creative possibilities associated with it are endless.”

A real application that will change the game

As a real-life example, Katz cited the use of NFT in ticketing, such solutions already being available. According to him, this is one of the most convenient cases of using such tokens. 

According to the businessman, if the organizers of the UEFA Champions League had chosen to use NFTs to distribute tickets, there would not have been the chaos that is caused by the fakes regularly sold to soccer fans. All it takes is one such implementation on the side of a major player, and everyone would see the benefits of this approach.

“By providing permanent proof of the authenticity of each issued ticket, venues and artists have effective counterfeit protection.”

NFTs will become even bigger than crypto

Katz believes NFTs could eventually become something bigger and more marketable than Bitcoin or altcoins. He believes there is a place for both segments in the cryptocurrency market, as both blockchain-based technologies have their unique capabilities and use cases. 

NFTs are an off-the-shelf way to digitize objects in collections and the real world, and then guarantee their uniqueness and regulate the rights of use in digital operations. These are two different applications where NFTs have almost no overlap with classic crypto.

According to Katz, the role of cryptocurrencies is more clear and obvious, while the potential of NFTs is not yet fully understood, but when it happens — we will have a breakthrough. Now we’re seeing a lot of real-world applications, and we’re getting ready for it.

“Cryptocurrency is changing how we make payments, and NFTs are being used to provide digital ownership and identity in new ways.”