Say what you want about NFTs but you can’t deny the amount of money, hype, and new users they brought to Ethereum

You have to give credit where credit is due.

Some people smack talk NFTs and NFT holders. But these people are also the ones that failed to realize that the real value that NFTs wasn’t necessarily tied solely to utility or services but more so in the form of exposure.

Don’t get me wrong, NFTs do in fact have A LOT of utility, most of which is still untapped. But in my opinion, the exposure they offered to Ethereum and crypto as a whole is very underrated and I don’t often see anyone talking about it

NFTs are by far the most popular form of crypto. They found their way into the mainstream and there are now multiple celebrities and major brands that either own, launched, or rep a certain NFT project.

All of this brings value and revenue stream into the market and especially the Ethereum ecosystem (considering the most popular ones are built there) especially now that L2s are making everything way cheaper and easier to access. Major companies are relying on L2s all of which adds yet more value to Ethereum.

Giant household names Facebook, Instagram, and Coca Cola are using an L2 (Polygon) for their NFT ventures which poured a ton of money and exposure onto Ethereum.

Even Starbucks announced an NFT partnership with Polygon just today which is huge if you think about it because they have one of the biggest and most active loyalty programs in the entire world with 25 million users.

Imagine 25 million loyalty program users getting exposed to NFTs and crypto networks like Polygon and Ethereum.

This arguably would bring in more value to the ecosystem than anything else would right now.

This is not even mentioning all the other players like Immutable X and Loopring back when GameStop gained a ton of hype.

Yet I still see some people calling NFTs “useless” which is extremely ignorant.

Yes, ERX-721 tokens are being used to create expensive JPEGs of apes. But you also can’t ignore the other utilities that are just starting to be uncovered and used.

But even those “useless” JPEGs arguably added a ton of indirect value to Ethereum.

They arguably provided more hype than anything else in the crypto market and helped push crypto into the mainstream.

Some people invested, some made memes, and some even went as far as creating their own NFTs all of which indeed added value.

I’m not sure if this was the intended purpose of NFTs in the first place, but they provided the community as a whole with much-needed exposure and you can’t deny that.