{"id":558611,"date":"2023-03-02T18:00:00","date_gmt":"2023-03-02T15:00:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/7-crypto-leaders-discuss-ways-to-combat-the-stigma-surrounding-nfts\/"},"modified":"2023-03-02T18:00:00","modified_gmt":"2023-03-02T15:00:00","slug":"7-crypto-leaders-discuss-ways-to-combat-the-stigma-surrounding-nfts","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/7-crypto-leaders-discuss-ways-to-combat-the-stigma-surrounding-nfts\/","title":{"rendered":"# 7 crypto leaders discuss ways to combat the stigma surrounding NFTs"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a4ca9de89565\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a4ca9de89565\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/7-crypto-leaders-discuss-ways-to-combat-the-stigma-surrounding-nfts\/#%E2%80%9D_7_crypto_leaders_discuss_ways_to_combat_the_stigma_surrounding_NFTs_%E2%80%9C\" >&#8221; 7 crypto leaders discuss ways to combat the stigma surrounding NFTs &#8220;<\/a><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/7-crypto-leaders-discuss-ways-to-combat-the-stigma-surrounding-nfts\/#Prove_true_utility\" >Prove true utility<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/7-crypto-leaders-discuss-ways-to-combat-the-stigma-surrounding-nfts\/#Stop_relying_on_hype\" >Stop relying on hype<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/buradabiliyorum.com\/en\/7-crypto-leaders-discuss-ways-to-combat-the-stigma-surrounding-nfts\/#Be_ready_with_real_current_utility\" >Be ready with real, current utility<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/buradabiliyorum.com\/en\/7-crypto-leaders-discuss-ways-to-combat-the-stigma-surrounding-nfts\/#Consider_a_%E2%80%98rebrand\" >Consider a \u2018rebrand\u2019<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/buradabiliyorum.com\/en\/7-crypto-leaders-discuss-ways-to-combat-the-stigma-surrounding-nfts\/#Stress_company_values_in_NFT_initiatives_and_partnerships\" >Stress company values in NFT initiatives and partnerships<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/buradabiliyorum.com\/en\/7-crypto-leaders-discuss-ways-to-combat-the-stigma-surrounding-nfts\/#Highlight_the_practical_benefits_for_users\" >Highlight the practical benefits for users<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/buradabiliyorum.com\/en\/7-crypto-leaders-discuss-ways-to-combat-the-stigma-surrounding-nfts\/#Focus_on_solutions\" >Focus on solutions<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_7_crypto_leaders_discuss_ways_to_combat_the_stigma_surrounding_NFTs_%E2%80%9C\"><\/span>&#8221; 7 crypto leaders discuss ways to combat the stigma surrounding NFTs &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjMtMDMvMDM3ZjdjYWYtYTUyYi00MzcyLWFhMTYtZjg2MjViMjI5MzU5LmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-48054ca8>There\u2019s widespread public confusion around much of what the crypto industry does and is hoping to achieve, but it\u2019s likely there\u2019s no facet of the space that has attracted as much negative attention as nonfungible tokens. From environmental concerns about the tokens\u2019 carbon footprint to the \u201cyou don\u2019t really own anything\u201d disdain of so-called \u201cright clickers,\u201d the NFT truly seems to be a love-it-or-hate-it product.\u00a0<\/p>\n<p>Convincing the doubters that NFTs are more than just status symbols or high-risk, high-adrenaline investments will take a blend of education and a commitment to tap into the <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">technology<\/a>\u2019s demonstrable utility. Below, seven members of Cointelegraph Innovation Circle share strategies to combat the mainstream stigma surrounding the NFT space.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Prove_true_utility\"><\/span>Prove true utility<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Many NFT collectibles are not providing any utility beyond collectibility and are making money based on speculation. Not all NFT innovations need to be net-new creations; they could just prove that there\u2019s a new way to deliver or unlock value for intellectual property, rights holders, creators and so on. \u2013 Chris Ghent, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/near.foundation\/\">NEAR Foundation<\/a><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Stop_relying_on_hype\"><\/span>Stop relying on hype<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>A lot of NFT projects are struggling because they don\u2019t have a sustainable business model other than creating hype and hoping to get more sales from the secondary market and royalties. But in most cases in this bear market, this does not work anymore. Only the companies and projects that continuously deliver real value to the holders will survive and continue to grow. \u2013 Cindy Jin,<a rel=\"nofollow noopener\" target=\"_blank\" href=\"http:\/\/mintology.studio\/\"> Mintology<\/a><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Be_ready_with_real_current_utility\"><\/span>Be ready with real, current utility<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Leading with utility is always the best \u2014 and not a \u201cthis is what we plan to do\u201d type of utility, but a real-life, currently existing utility. Unless you are backed by notable names, the days of launching with just a roadmap are over and will be met with an eye roll. \u2013 Ty Smith,<a rel=\"nofollow noopener\" target=\"_blank\" href=\"http:\/\/coinbound.io\/\"> Coinbound<\/a><\/p>\n<p class=\"has-black-color has-text-color has-background\" style=\"background-color: #fabf2c;padding: 20px 30px\">Join the community where you can transform the future. Cointelegraph Innovation Circle brings blockchain technology leaders together to connect, collaborate and publish.\u00a0<strong><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/hubs.ly\/Q0152XyT0\">Apply today<\/a><\/strong><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Consider_a_%E2%80%98rebrand\"><\/span>Consider a \u2018rebrand\u2019<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>NFT companies should focus on utility. Most of the recent NFT coverage has been misguided and relied on fear of missing out to build hype. It\u2019s our responsibility to show that NFTs go far beyond a collectible JPEG. Another option is retiring the term \u201cNFT\u201d altogether. We\u2019re seeing increased usage of the terms \u201cdigital collectibles\u201d and \u201cdigital memberships\u201d for products that are technically NFTs; these terms don\u2019t come with the semantic stigma. \u2013 Sheraz Ahmed,<a rel=\"nofollow noopener\" target=\"_blank\" href=\"http:\/\/storm.partners\/\"> STORM Partners<\/a><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Stress_company_values_in_NFT_initiatives_and_partnerships\"><\/span>Stress company values in NFT initiatives and partnerships<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>By including \u201ccompanies\u201d in the question, it\u2019s already a different question than it was in 2021. Companies will consider quality and reputation; they\u2019re playing a long <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/game\/\" data-internallinksmanager029f6b8e52c=\"7\" title=\"Game\" target=\"_blank\" rel=\"noopener\">game<\/a>. The NFT initiatives a company chooses will be more in line with the company brand, values and business, all of which will help legitimize what they do. The one thing they can do is choose partner platforms with shared values and goals. \u2013 Stephanie So,<a rel=\"nofollow noopener\" target=\"_blank\" href=\"http:\/\/geeq.io\/\"> Geeq<\/a><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Highlight_the_practical_benefits_for_users\"><\/span>Highlight the practical benefits for users<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>One strategy would be to keep the focus on creating real-world use cases and <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>lications for NFTs that demonstrate their value and utility. By highlighting the practical benefits of NFTs, companies and projects can help educate the public about the technology. For example, developing a blockchain-based NFT ticketing platform could eliminate black markets while ensuring fair prices for ticket purchasers. \u2013 Vinita Rathi,<a rel=\"nofollow noopener\" target=\"_blank\" href=\"http:\/\/www.systango.com\/\"> Systango<\/a><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Focus_on_solutions\"><\/span>Focus on solutions<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The best way for NFT companies to move the narrative forward is by focusing on solutions. NFTs are already being applied to solve problems in diverse areas, including disaster relief, brand loyalty, ticketing and more. Projects that stay zeroed in on their end goals will be the most successful. \u2013 Molly Glennon,<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/dittopr.co\/\"> Ditto<\/a><\/p>\n<hr class=\"wp-block-separator\">\n<p><em>This article was published through Cointelegraph Innovation Circle, a vetted organization of senior executives and experts in the blockchain technology industry who are building the future through the power of connections, collaboration and thought leadership. Opinions expressed do not necessarily reflect those of Cointelegraph.<\/em><\/p>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/hubs.ly\/Q0152XyT0\"><em><strong><u>Learn more about Cointelegraph Innovation Circle and see if you qualify to join.<\/u><\/strong><\/em><\/a><\/p>\n<\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/innovation-circle\/7-crypto-leaders-discuss-ways-to-combat-the-stigma-surrounding-nfts\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; 7 crypto leaders discuss ways to combat the stigma surrounding NFTs &#8220; There\u2019s widespread public confusion around much of what the crypto industry does and is hoping to achieve, but it\u2019s likely there\u2019s no facet of the space that has attracted as much negative attention as nonfungible tokens. From environmental concerns about the tokens\u2019&#8230;<\/p>\n","protected":false},"author":1,"featured_media":558612,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/cdn-cgi\/image\/format=auto,onerror=redirect,quality=90,width=1200\/https:\/\/s3.cointelegraph.com\/uploads\/2023-03\/037f7caf-a52b-4372-aa16-f8625b229359.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[],"class_list":["post-558611","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/558611","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=558611"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/558611\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/558612"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=558611"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=558611"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=558611"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}