Marrione Manalo, a comic book illustrator and creative director in the metaverse, sees the NFT industry undergoing a challenging transformation. In a conversation with Coin Edition, Manalo expressed the belief that this process would be worthwhile only if the industry could achieve its original objectives.
The metaverse expert pointed out that the initial rise of NFTs was primarily built on superficiality and hype, lacking depth. Manalo observed that it focused on digital art pieces without a unique style or compelling narrative, often released as “limited collections” accessible only to exclusive circles at exorbitant prices.
The comic book illustrator emphasized that a focus on glamorous shallowness could only sustain the industry for so long. Therefore, the current struggle with the aftermath has led to a sense of disintegration.
Manalo raised several unanswered questions that, if addressed, could reshape the industry. These questions revolved around the identity of NFT creators, the innovative styles they offer, and the existence of a genuine message within their work. According to Manalo, the foundation of the industry was fragile, and a slight disturbance caused it to crumble beyond recognition.
Despite highlighting the weaknesses of the NFT industry, Manalo also identified some positive aspects in the ongoing process. She saw the downturn as a purification phase and a valuable lesson for new investors, emphasizing that mere glitz and glamour are insufficient, and depth is essential in the products.
When looking to the future, the metaverse expert acknowledged that the maturity of the NFT industry would not occur overnight. She asserted that NFT technology, not just digital art, should serve a practical purpose. Their true potential would be realized when they fulfill tangible roles in both digital and real-world settings.
Manalo stressed that the genuine potential of NFTs lies in how the art can be applied and adapted to various artistic mediums. She highlighted that NFTs are not limited to digital art but encompass a wide range of use cases, including tokenized medical records, property titles, and professional credentials.