Korean NFT Market Shifts Focus Towards Practical Use Cases
CryptoNewsTerminal Staff11 Sep, 2024
Korean NFT Market Shifts Focus Towards Practical Use Cases
## Korean NFT Market Pivots Towards Utility The Korean NFT market is experiencing a shift towards NFTs with actual value, such as tickets and genuine certificates. This move away from speculative assets highlights the potential for NFTs to become a technology with real-world applications. According to Tiger Research, the Korean NFT market has faced challenges due to excessive local focus, lack of substantial utility, and regulatory hurdles. However, the emergence of practical use cases suggests that NFTs may evolve beyond mere collectibles. Ticketing and authenticity certification are among the practical applications gaining traction in South Korea. These developments indicate a growing recognition of the potential for NFTs to transform various industries. The future trajectory of the Korean NFT market remains uncertain, but the focus on utility is a positive sign. As NFTs continue to find genuine use cases, their value and adoption are likely to increase.
