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CryptoNewsBreaks – Upstream Discusses Value of Speculative vs. Utility-Based NFTs

Company: Upstream
Category: News

Upstream, the revolutionary retail trading app for stocks and NFTs powered by Horizon Fintex and MERJ Exchange Limited, is discussing the value of the “once-booming world of speculative NFTs” in its latest blog. According to the blog, the NFT world is facing a “harsh reality” as a dappGambl report has declared the vast majority of NFTs virtually worthless. The blog notes that initially celebrities and artists flocked to the digital realm followed by eager buyers hoping to make it big. However, the initial enthusiasm for speculative NFTs died down as market oversaturation, environmental concerns, the crypto winter and speculative risks began to impact the space. However, Upstream continues, the technology does offer value, “including the ability to create shared, exclusive experiences within communities and subcommunities, timestamp key events and moments in an immutable way, and even break new ground in Metaverses down the line.”

Upstream has always advocated for NFTs as a means of fan engagement rather than a speculative ride because they serve as merchandise or collectibles with an immutable record of ownership, providing potential for creative campaigns for brands, personal brands, sports teams, or other type of organizations. The blog noted several forward-thinking companies that are leveraged the potential of NFTs in new ways, including American Express, which is introducing Member Collectibles; Lufthansa Innovation Hub and Miles & More, which is introducing an app that allows passengers to transform boarding passes into NFT trading cards; and Diesel, which teamed up with Hape to create a collection of NFTs aimed at fashion and Web3 enthusiasts. “As pioneers in blockchain-powered and NFT trading, Upstream’s mission is to unlock the full potential of NFTs for everyone,” the blog states. “Our user-friendly trading app simplifies the entire process, allowing users to create, purchase and trade NFTs effortlessly. While the speculative NFT market faces uncertainty, Upstream remains a beacon of stability with its focus on utility-based NFTs and genuine fan engagement. As the NFT landscape continues to evolve, Upstream stands ready to empower users and redefine the future of digital assets.”

To view the full blog, visit https://ccw.fm/XOpJ2

About Upstream

Upstream, a MERJ exchange market, is a fully regulated global stock exchange. Powered by Horizon Fintex’s proprietary matching-engine technology, the exchange enables investors to trade shares in dual-listed companies, NFTs, shares in IPOs, crowdfunded companies, U.S. and international equities, and celebrity ventures directly from the app. For more information about the company, visit www.Upstream.Exchange.

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