The Reason Why NFTPort Exists - the New Data Layer for the Internet as an Open Protocol
Although NFTs have found adoption only recently, the concept itself has a rich history going back over 40 years. In 1980's before WWW, Tim Berners-Lee tried to implement a standard similar to today's NFT's which could later be part of the WWW. He did so again in the 2000s by advocating for the concept of linked data (i.e. the Semantic Web). These efforts were unfortunately not successful due to their sheer technical complexity and non-adoption by the industry. Instead, the biggest beneficiaries of Web2 became today's data monopolies and the surveillance capitalism.
We thus believe that NFTs are short-term overvalued and long-term undervalued because the true opportunity lies in its ability to break up today's data monopolies by reimagining the existing Web2 personal data model to a peer-to-peer one where citizens own today's most precious currency - their personal data. Tim Berners-Lee dreamt of an open data layer for the Internet and finally its promise is coming to life through NFTs. Our vision is to enable this by becoming the new data layer for the Internet as an open protocol.