What's left for NFT after the impact of FTX in the crypto industry?
However, Oscar Franklin Tan, an executive at NFT platform Enjin, believes that this is not a fair summary. Speaking to Cointelegraph, Tan said that while NFTs were used, other items could have also been used. “It had nothing to do with NFT technology and more to do with that loophole for Bahamas users,” he noted.
“Admittedly, there was a lot of hype and excessive exuberance for some models, but this is true with all new technology. The NFT space is sure to stabilize and consolidate around the strongest communities, then we will see a second generation of smarter, more sustainable NFT models.” “Less speculation, more mandatory utility. As with tokens, if the NFT is essential for a project’s functionality or user’s presence, then there is less concern for price furcations. In essence, a gaming item, access to certain features, access to added value.”
With FTX’s NFT marketplace caught in the middle of the company’s implosion, Nick Rose Ntertsas, the founder of the NFT platform Ethernity, offered suggestions on how it can be done better. Speaking to Cointelegraph, Ntertsas said that FTX’s centralized exchange-based model for its NFT platform was closed. He explained:
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