The architect of ArtBlocks believes that several NFTs can still have a high value.
The creator of the well-known NFT brand Chromie Squiggles, Erick Calderon, sees a future in which consumers may customize products and NFTs are valued without being scarce. Speaking on Friday at the NFT conference in Paris, he remarked. He still asked: What will it take for NFTs to be desirable without the promise of scarcity?
"We as humans have a tendency to lean towards individuality,”
The crypto winter caused NFT trading volumes last year to drop more than 90% in terms of U.S. dollar value. Even well-known collections like Bored Ape Yacht Club and Azuki were impacted by the decrease. Customers are grabbing less priced NFTs marketed as "digital gems" and offered by well-known companies like Reddit or the Warner Bros. The volume of transactions has steadily increased.
Calderon wants to eliminate the "fomo-based" market dynamics that allow companies to provide clients with tailored goods.
He proposed, for instance, that tourist attractions, such as the Eiffel Tower, could use blockchain technology to capture a picture of a specific sparkling light sequence and sell it as an NFT souvenir, with the money going back to the artist and the building's maintenance.
ArtBlocks unites artists, collectors, and blockchain technology to generate exceptional art pieces and provide remarkable experiences. Its mission is to showcase innovative modern generative art. The platform has gained recognition as a space for producing and vending unique artworks.
One of its creations, Chromie Squiggles, was designed by Calderon in 2020. As per NFT Price Floor, the collection's present minimum price is 12.5 ETH, equivalent to about $20,000.