NFTs have been mostly acquired to show proof-of-profile photos (PFPs), which represent brands, culture, or reflect as static status symbols. Blue-chip NFTs like the Bored Ape Yacht Club or Cool Cats were not originally backed by any tangible utility other than speculative value and hype, along with the promise of an illustrative roadmap, but in 2022, investors are looking for a little bit “more.”

Nonfungible tokens, however, are being used beyond their status symbol use. They are now being used to create a Metaverse existence and are even considered by some to be ambitious.