According to Quaison Carter, co-founder and CMO of Lostworlds, a location-based NFT platform, non-fungible tokens (NFT) not yet widely used due to what he calls “user friction.” However, Carter argues that the value of NFTs will persist “as long as there is a community willing to use them.”
The Role of the PFP Community
Regarding the onboarding process, the co-founder of Lostworldssuggested making it simpler so that users don’t spend time trying to figure out how to become NFT holders.
Asked about the challenges associated with location NFTs, such as location spoofing, Carter lamented the harm such practices do to the industry as a whole. He also briefly explained how hiscompanyis attempting to address this issue, thus helping to preserve the “integrity of location-based interactions.” In his written response sent to Bitcoin.com News, Carter also touched on why his company chose Avalanche and the benefits of using its platform.
Bitcoin.com News (BCN): the so-called “expensive JPEGs” are said to have increased NFT’s visibility and led to greater audience reach and appeal What is the value of NFT and can you maintain this value over time Do you think it can maintain this value over the long term?
Queson Carter (QC): The killer application of NFT is really culture and community; NFT is simply a verifiable digital asset that projects value and identity onto it and makes it meaningful. In the long run, I think there will be several PFP (profile picture) communities that will become as important as religions and cults, and the NFT is their symbol, because it is the symbol of their culture and identity. So as long as there are communities that are willing to use NFTs to express their culture and identity, they will continue to exist.
BCN: Big brands like Nike have had success with NFT, but it hasn’t led to the mass adoption that some have hoped for; what are the things that are hindering or stopping NFT adoption and what do you think needs to be done to accelerate mainstream adoption?
QC: User friction is a major barrier to NFT adoption During the development of Lostworlds.io, we quickly recognized the challenges in onboarding users into the NFT ecosystem The concept of NFT is already complex to explain, and asking users to create a wallet and fund it with cryptocurrency can be overwhelming and uncomfortable. For example, our platform allows users to create an email-based wallet and purchase digital collectibles using Apple or Google Pay, which takes less than 30 seconds. Users should not have to think.
BCN: Can you explain how the hybrid experience, which is said to bridge the divide between the real world and the virtual metaverse, will be more fun and engaging for users like gamers and shoppers?
QC: Hybrid experiences are digital experiences that enhance the physical experience. For example, for NFT NYC 2023, we worked with DeGods and Stepn to host a series of scavenger hunts around New York City. Participants embarked on a landmark tour, exploring key locations in New York City and collecting Geo-NFT at each location. Collecting all the landmark NFTs offered a chance to win a pair of DeGods and Stepn collaboration sneakers, further reinvigorating the casting process. This engaging experience could be likened to Pokémon Go for NFTs, seamlessly blending the digital and physical worlds.
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