📝Learning Lab
The Transformative Journey of Learning.
The Learning Lab will be a platform of unique and transformative experiences through NFTs, providing a new and exciting path for people to connect with the possibilities and areas that can be explored with non-fungible tokens.
NFTs as a Technology for Education and Engagement.
Digital assets and the non-fungible token (NFT) market have experienced exponential growth over the past four years, reaching daily trading volumes of around $1 billion [1]. Throughout this period, the ecosystem of cryptocurrencies and blockchain technology has provided the foundation for this movement, involving crypto enthusiasts, institutional investors, artists, and many other interested parties.
However, widespread adoption and recognition of the utility of NFT technology are not yet a reality. Currently, the predominant interest revolves around speculative purposes, with individuals engaging with NFTs primarily for buying and selling assets to make profits.
It can be stated that the initial learning curve surrounding NFTs associated them primarily with art and gaming, reinforcing the speculative understanding. This was a natural association since many projects utilizing NFTs were based in these fields. Over time, other industries started exploring different utilities for NFTs, but the progress has been insufficient to create a new learning curve for the general public. As a result, isolated groups exist within small bubbles, discussing the potential use cases without a cohesive industry structure to popularize the concept.
This brings us to one of the most significant challenges for NFTs: raising awareness among the general public regarding the practical utility of the technology in service and consumption experiences within the traditional economy. There is still a massive lack of knowledge and understanding about what NFTs are and how they can serve real-world demands, as well as a limited grasp of blockchain technology. In fact, only 3% of the Brazilian population interacts with crypto assets, including NFTs [2].
Moreover, the initial learning curve, coupled with losses suffered by token holders, has deterred many users from the ecosystem. In April 2023, the sector witnessed a new low in terms of user engagement [3]. Many individuals and students of all levels are still unfamiliar with NFTs, finding it challenging to grasp the value, authenticity, and ownership of digital assets. There are also concerns about the security and legality of transactions involving these assets.
Furthermore, significant entry barriers exist for newcomers in the NFT market, mainly due to technical complexity, lack of intuitive platforms, and structured support. These factors impede the transition of individuals from the traditional economy to the digital environment supported by blockchain technology.
The perception of technical complexity discourages talented professionals from various fields and individuals in general from participating, which slows down the adoption curve. When we consider this array of challenges alongside the historical growth results of NFTs and the potential value this technology can offer, we realize that numerous opportunities are yet to be explored and filled.
Research References:
[3] https://br.beincrypto.com/vendas-de-nfts-caem-drasticamente-e-atingem-nova-minima-no-ano/
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