NFTS: ART OF BUSINESS

Simon Dale of Adobe on the potential and challenges of NFTs for the digital economy

- BY SADAT OSMAN

NFTs open up new revenue streams for digital creators and businesses, allowing them to connect directly with fans of their work and cut out middlemen. However, as with any new technology, there are still challenges that need to be addressed before it reaches its full potential, such as cybersecurity and fraud-related risks, lack of regulation, and standardisation in the NFT market. In an interview with Simon Dale, Managing Director, Southeast Asia & Korea, Adobe, he believes that NFTs will shape the future of business operations, particularly in the digital-first post-pandemic era.

What kind of opportunities do NFTs provide businesses, and how is it expected to shape the future of business operations? The rise of NFTs presents an exciting and important opportunity for creators and businesses alike. In today’s digital-first world, NFTs create new business opportunities by enabling organisations to create new business models, ameliorate the value of existing products and services, and enter new markets. Since NFTs can be any kind of digital content, the possibilities for businesses are endless, resulting in the rising popularity of NFTs. In fact, recent research shows that NFT adoption rates in Singapore are higher than that of global rates, pointing towards the growing popularity of the space.