NFTs will generate the same amount of buzz as Bitcoin did ten years ago.

Although NFT market activity and sales volume slowed down in September, we are still seeing encouraging adoption signals at an institutional level and sustained growth in use cases, according to Jonathon Miller, managing director of cryptocurrency exchange Kraken in Australia.

Despite an almost 98% decline in non-fungible token (NFT) trade volumes since January, certain industry executives claim there is nothing to be concerned about because technology is still evolving and growing.

According to him, the business is still “bullish on the NFT space” and thinks it will be “just as revolutionary and disruptive as Bitcoin was ten years ago.” He also expressed interest in JPMorgan’s signing of a “lease employing the technology” and the Vatican’s opening of an “NFT gallery.”

"It is extremely hard to tell a person who wants digital art, that you have to download a wallet and you have to onboard with that exchange," he said, adding that the NFT business is still "in its infancy" and that the biggest obstacle to widespread adoption is "nightmarish user experiences." Smoothing out that process has been a top objective for Kraken, according to the CEO.

The trading downturn is not significant in the overall scheme of NFTs, according to John Stefanidis, founder and CEO of NFT gaming platform Balthazar DAO, because consumers need to realize that “NFTs are more than simply photographs.”

It is normal for this drop to occur when “something has had extraordinary growth under one application,” according to Stefanidis.

According to him, “whenever there is a horizontal expansion, individuals split and pull back, and we’re going to see a more steady increase in NFTs,” this can stabilize the economy further.

Caption: Don’t miss out on an NFT as it is about to boom as much as bitcoin did in the last few years according to several experts.