🔥Challenges

No pain, no gain

The NFT market has evolved significantly since its early days when fake listings, fraudulent copies, and high transaction costs were among the major challenges. While progress has been made, in order for the space to truly grow and transcend into the next phase, more complex and mature challenges must be addressed. Currently, there is no universal solution in place to address these problems. Wega aims to add a building block to the NFT innovation stack by addressing the following challenges:

Limited application

Most NFTs are used as digital art and collectibles, but lacks application capabilities besides the previously mentioned use cases. To gain mainstream acceptance, NFTs need more use cases and a wider audience.

Lack of interoperability

NFTs are siloed across multiple blockchains, making them hard to exchange or use across platforms. Increased NFT adoption requires platform interoperability.

Limited liquidity

Another problem experienced across a longer time span is liquidity being divided and siloed across different chains. This would introduce liquidity but hinder the efficiency of such solutions.