Most of the unique tokens are based on Etherium as the most popular platform for smart contracts. That said, Eth co-founder Joe Lubin admitted the day before that he never managed to acquire his own NFTs due to his high workload. Although he considers the unique tokens "a fundamental invention.

What are NFT tokens valuable?

Lubin talked about his thoughts at the recent Camp Ethereal 2022 conference. Here’s one of his quotes published by the news outlet Decrypt.

People ask me what I’m doing in decentralised finance and what NFTs I’m acquiring. I spend about twelve hours a day in meetings. I read about a lot of things, I play with random transactions, and people send me different tokens, but I’m not very active in NFT.

Etherium co-founder Joe Lubin

As a reminder, Joe Lubin does not own any expensive NFT collections and does not make frequent transactions with unique tokens. Nevertheless, he is confident that the emergence of such a trend will have a huge impact on the world. He continues.

Unique tokens are a fundamental invention, a profound innovation in computer science.

Trend in trading volumes with NFT on the OpenSea platform over the past couple of months

According to the developer, a great many investors too underestimate the potential of unique tokens. However, NFTs can have a huge impact not only on the crypto industry, but on the world as a whole.

We are going to turn everything upside down on planet Earth. We’re going to fight the isolation of communities so that every member is more valuable and effective.


According to Lubin, the main use for NFT is in entertainment and content. Tokens are very helpful in monetising and promoting digital illustrations, photos, sports and branded collectibles, as well as characters and items in blockchain-based video games.

In doing so, they are also helping the creators of similar projects to evolve. The most recent example of this is the recent purchase of a legendary NFT line called Cryptopunks by Yuga Labs, which is known for creating the Bored Ape Yacht Club collection. Read more about it in a separate piece.


But as more and more industries embrace blockchain and the potential of tokenised assets in the form of NFT, there are many more important milestones ahead for the niche, says Lubin. The developer himself “is doing his best to make sure that as many ideas as possible with NFT come to fruition.

Any business that can see its role as an intermediary being replaced is improving, becoming less costly, more reliable and more efficient. Unless such a business adapts to the innovation, it risks disappearing altogether.

One of the most popular NFT collections is the Bored Ape Yacht Club

Here’s another fun fact: it looks like the co-founder of Etherium isn’t about to change his social media profile avatar to an image associated with any NFT anytime soon. He likes his own photo, but nevertheless doesn’t deny the huge potential of unique tokens in transforming social media.

Perhaps this is one element of how Web 2 is evolving into a meta-universe, where the ‘social graph’ and digital assets need to be compatible and will truly belong to the user. It will be a user-centric meta-universe.

In other words, profile avatars will soon be more valuable and influential than individual social networks, turning them into brands. And this is just a small part of what the NFT and meta-village revolution has in store for us.


We believe that the blockchain community has yet to find the potential of NFT tokens. Most likely, the situation here will evolve in the same way as with cryptocurrencies. At first they were just used for value transfer, but later decentralised betting services, decentralised finance and non-interchangeable tokens emerged on their basis. So it all depends on developer activity - and that is not going to be a problem.