Low-hanging fruit for NFTs as a whole is fixing the issues Jonty pointed out in his epic March 17, 2021, tweet thread (https://twitter.com/jonty/status/1372163423446917122). These issues are not new features or use cases, but are blockers for new features. Fixing these issues will increase trust in NFTs and help grow sales.
Quote:
The NFT token you bought either points to a URL on the internet, or an IPFS hash. In most circumstances it references an IPFS gateway on the internet run by the startup you bought the NFT from. Oh, and that URL is not the media. That URL is a JSON metadata file
Principles:
- NFTs should be durable
- Their lifetime must not be limited to the company managing the sale
- They must not change after purchase, because then the changer can invalidate the contract. Portions that are dynamic must be cleanly marked and communicated. The terms of the sale must restrict the seller from modifying any other facet.
- NFTs should be complete
- A JSON file is not sufficient except as a pointer. It is not the object owned.
- The media must be referenced in the object transacted
- The purchaser must have the asset hashes in hand after the sale.
- IPFS transience should be accounted for
- There should be a trust ensuring that the IPFS hosting continues past the lifetime of the seller. (Privately owned graveyards have this property!) For example, metadata might be in a blockchain shared and supported by all vendors. There might be a non-profit charted with ensuring the continued availability of metadata and assets.
- Metadata necessary to resolve the item must be cacheable, with well-known semantics. There must be an "infinite" cache timeout for facets of the item necessary to bootstrap to the point of viability.
Relevant project: https://nft-dao.org/projects/?fid=149#/fund-4/