According to Cryptocurrency, NFT is a technology to find new applications

Helen Hai, head of An NFT and Fan Token, told us at the Paris Blockchain Week Summit (PBWS) that NFT is "a technology that is still in the application development phase. Art and music are currently the two main drivers of the NFT industry, but the world's largest exchange by market capitalization sees much more to come.

While interest in NFT has waned recently, Coin believes the space is just getting started. This year has already seen companies seeking NFT-related trademarks, governments considering issuing their own NFTs, and live NFT events around the world. As Hay said, key use cases currently in focus include art and music. For artists, NFTs offer undiscovered talent the opportunity to enter entirely new markets without the need for galleries or art curators to approve their work. They offer musicians financial independence from record labels and publishing companies, which retain the rights to most of their work in exchange for a moment in the spotlight.