Some people think the NFT market might be due for a comeback. But if it does return, it probably won’t look like the last time. The new cycle, according to OpenSea’s chief marketing officer Adam Hollander, might not be driven by those profile picture collections that dominated the 2021-2022 boom.
Instead, Hollander believes future growth could come from tokenized physical products. Think Pokémon trading cards, Rolex watches, digital tickets for events, and in-game assets. The idea is pretty straightforward: instead of buying a JPEG of an ape for speculation, people might actually use NFTs to prove they own something real or functionally useful.
Less Speculation, More Utility
Looking back at the 2021-2022 period, Hollander noted that market was mostly about speculative trading and avatar collections. But he thinks the real purpose of NFT technology is verifying ownership of both digital and real-world assets. So in a new era, assets with more practical use cases might take center stage. That sounds reasonable, I suppose, but we’ve heard similar predictions before.
Another factor Hollander pointed out is how AI technologies are changing the game. AI has lowered the barriers to creating digital art, animation, gaming content, and on-chain assets. This could speed up NFT adoption by making it easier for more people to produce and tokenize things. It’s not a guarantee, but it’s an interesting angle.
OpenSea’s Technical Pivot
Hollander also shared some details about what OpenSea is working on internally. The company is building a unified asset management system. The goal is to let users manage their NFTs and crypto assets across different wallets and blockchains from a single platform. That’s a big technical challenge, but if they pull it off, it might make things much simpler for collectors.
They’re also developing payment experiences similar to Apple Pay—basically making it easier for people to buy NFTs using regular fiat currency instead of having to go through crypto exchanges first. And they’re working on features that will display the value of tokenized assets in US dollars. That could help newcomers understand what they’re actually paying.
No Quick Fix with Memecoins
There’s been a lot of buzz around OpenSea’s anticipated SEA token. But Hollander was pretty clear about their stance. He said a memecoin model that only generates short-term hype cannot create lasting value. So OpenSea’s priority is to first build a sustainable business model before rushing into a token launch. That’s probably a smart move, given how many projects have crashed and burned after token releases.
This is not investment advice.
