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What’s up, everyone?
Today, I would like to introduce some great technological developments. These are revolutionary advancements for the artists and the consumers’ perspectives.
Think about solutions that increase the capacity of the network beyond the primary network. Anyone who has heard of Polygon or Arbitrum knows they are speeding up and making transactions cheaper. Farewell to such inflated gas costs! This inexpensive option, in contrast, has a far broader audience to engage with the NFTs, enjoying the artwork instead of the expenses.
Moving forward, we will sequentially analyze smart contracts. They are no longer simple legal agreements; now, artists can, for example, have a payout of royalties on each drop automatically instead of doing it manually. This helps ensure that artists do not suffer losses with their creations and supports art-appreciating society.
Interoperability is yet another advantage worth noting. Imagine being able to transfer NFTs even if they were created on a separate blockchain. This ability gives rise to several functionalities since, for example, it allows users to display their collections on different selling platforms without any complexities, thus improving their liquidity and market scope.
It is impossible to imagine a cognitive experience devoid of AR or VR, and neither can we turn a blind eye to the thrilling aspect of it. It is these very technologies that enable us to ‘infiltrate’ the walls of the museum and appreciate the work of art, not only in our minds but physically, with the help of technology. This type of interaction further enhances the experience, making these art objects, or more appropriately, these NFTs, more real and more accessible.
Therefore, these transformations are enhancing the efficiency, ease of use, and creativity of the NFT trading venues. Yes, the future is positive and I cannot wait to see these transformations develop and progress in the world of NFTs!