An OpenSea executive believes the next big NFT cycle could look very different from the speculative craze that drove the market to more than $16 billion in 2022.
"It makes nothing but sense" for assets like collectible trading cards to become tokenized and traded onchain, OpenSea Chief Marketing Officer Adam Hollander said during an interview with The Block's Gareth Jenkinson at Consensus Miami.
Hollander argued that NFTs remain a valid technology for proving ownership of digital and physical assets, despite the crash in the values of profile-picture collections like Bored Apes and CryptoPunks.
"I think that we will see a resurgence," Hollander said. "But I think it might look a little different when we do than what people saw back in 2021 and 2022."
According to Hollander, the previous NFT boom became overrun by speculative traders, blinded by rapid jumps in dollar values instead of focusing on the underlying technology.
