The NFT market is gradually regaining its footing following the recent crypto winter. But recovery has a long way to go given the consistent decline in daily average trading volume. Yet, major web2 businesses are entering the web3 space and using NFTs to improve customer engagement.
But why are Web2 brands so interested in utilizing NFTs amidst such challenging market conditions?
This article answers the question, explains the potential roadblocks brands may face when transitioning into the web3 space, and lists examples of web2 brands that are making it big in web3 with NFTs and the right business partnerships.