- Utilify predicts that almost every object and action will have a digital equivalent in the future.
- Web3 technology is attracting major brands and sports clubs, leading to increased investment in the sector.
- Despite a decrease in NFT trading volume, interest in the technology continues to grow, with brands still in the discovery phase.
Utilify, a Web3 and NFT initiative, believes that in the future, nearly everything will have a digital counterpart. As blockchain technology continues to develop, it brings forth innovations such as the merging of traditional structures with NFTs and the digitization of data through Web3.
Web3’s Potential Attracts Brands
The advancements in blockchain technology have paved the way for Web3, which is considered one of the keys to accessing the digital world. Major brands that recognize the benefits of Web3 are making headlines with their moves towards this technology. Utilify sees a future where almost every object and action will have a digital equivalent, with brands increasingly adopting Web3 technology.
Sports Clubs Increase Investment in Web3 Technologies
The growing interest and adoption of Web3 have also impacted sports activities. Many sports organizations are opening the doors to more financing and interaction through Web3 and blockchain. Utilify, which participated in the FANS LOVE IT event, stated that blockchain and Web3 technologies contribute to the reflection of sports activities to the fans.
Utilify also noted that sports clubs have begun investing more in Web3 as they discover its advantages in fan engagement. The company expects sports clubs to increasingly turn to Web3 in future projects.
Brands Have a Significant Web3 Fear
Utilify points out that many brands have a significant fear of Web3 due to factors such as fraud and usage difficulties. Although Web3 continues to gain popularity, it still lacks in terms of user experience. Utilify aims to simplify the transition from Web2 to NFTs by offering users a traditional username and password method.
NFT Interest Remains High Despite Lower Trading Volume
The downturn in the cryptocurrency market has affected various sectors, including metaverse and NFTs. Despite the decrease in NFT trading volume, interest in the technology continues to grow. Utilify argues that NFTs are witnessing increasing transactions on the blockchain side and that the technology has applications in many different areas beyond trading.
According to Utilify, brands are still in the discovery phase when it comes to NFTs. Some brands are focused on monetary gains, but overall, the progress of NFTs continues. Utilify’s CEO, Bertuğ Oymak, previously stated that NFTs are a growth hack for Ethereum, indicating the technology’s potential for long-term sustainability.
