Target NFT user's problems

NFT and its lack of emotional factor

NFTs are cultural assets. Because they present a culture, emotional factors play an important role in its sustainability. For instance, people love to show off their Bored Ape NFT they bought for $300,000. This “digital flexing” is a huge part of the NFT culture but the hedonic value is not only about bragging about how much money one spent.

Yet, many in the outside world still consider NFT as speculative financial assets and the context in which they are shared barely reflect their inner value. Today, the default destination to consume NFTs are marketplaces and storefronts where attention is drawn to prices, bids, and transactions. As the merging wave of advanced NFT aggregators and some marketplaces that support NFT-fi, the financial factor became more visible.

Web3 environment and its lack of online presence and ownership

Web3 currently lacks the essential building blocks to represent social identity and trust, resulting in a heavy reliance on centralized Web2 structures. In the realm of NFTs, artists predominantly depend on centralized platforms such as Opensea to establish scarcity and initial provenance for their artworks. Consequently, these platforms assume the responsibilities of verification, storage, tracking, and even auditing of ownership data.

When it comes to fostering a community for a NFT project, Web3 developers and artists often turn to Web2 social platforms like Twitter. However, these platforms may lack the necessary functionality and ownership features for managing digital assets effectively. While some attempts have been made by these social platforms to link NFTs with their respective owners, these efforts still struggle to meet the true demands of their users.

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