IoTeX Envisioning A New Eclipso for NFTs, Things We Love to See

IoTeX has been working together to get the best on cryptography and has raised the level over the past few years. A subset of the Institute of Electrical and Electronics Engineers (IEEE) that helps create connections for the internet, the working group is focused on creating a universal substandard for the use of blockchain in the Internet of Things (IoT).

“The future of NFTs will involve using facts about the real world to mint digital assets,” said Raullen Chai, CEO of IoTeX. The complacency factor in NFTs has risen, and it procures the need for trusted data from trusted devices to facilitate if-then logic via smart contacts across the real world to mitigate the chance of adverse synopsis.

But before we move forward to the NFTs, it is inevitable to gather some information about them. The NFT craze has substantially focused on the art and experiential aspect. Various NFTs of digital arts have been sold in a multimillionaire auction, and we have perhaps seen the most prolific example at Christie’s. The real world of NFTs is sought to expand its worldwide coverage and include things like beer pong with Post Malone and a Kings of Leon album.

IoTeX, which is a renowned IoT device security conglomerate, and is entering into NFTs to bolster the sales that have been slowing down over the past year. While some pinpointed the slump to an overhauling decline in growth, some predicted it to be a natural pullback due to the inflated markets. The world of NFTs is changing, as claimed by Jeff Dorman, chief investment officer at Arca, a cryptocurrency investment firm. He also said that it because of the expansion beyond the current use scenarios such as collectibles, art, and gaming into more traditional use cases.