18th January 2023 Digital Bytes

Welcome to this week’s Digital Bytes. This week we have analysis on the following topics:

Are NFTs going to wither, or are they set to flourish? - there is no denying that non-fungible tokens (NFTs), which were once the forte of individuals seeking a fast way to riches, have taken a hit in recent times. Market conditions plummeted, scams and hacks became frequent and low-quality projects increased in number, thus raising questions about the value of NFTs and their actual place in Web3. However, are we going to see NFTs more as a ‘digital certificate’ - that is, holding unique data about our homes, cars, medical data, etc? And will NFTs transform from being acquired for speculation purposes to having a utility, whereby making our day to day lives more efficient and easier?

Blockchain technology’s adoption slowly gathering speed - blockchains are more than just a facilitator for crypto and NFTs; they are being used in many industries in various countries around the world. While some block…