The Problem

NFT or JPEG?

"Did I just buy a JPEG, or an NFT?"

NFT skeptics, and, frankly, many NFT owners often have this question.

NFTs gained explosive popularity in 2021. OpenSea, one of the major NFT marketplaces, reported $3.4 billion trading volume in August 2021. This jaw-dropping record got topped in just a few months: OpenSea hit an all-time high trading volume of $5 billion in January 2022. With this meteoric rise in user base and appreciation, there comes a tremendous growth on the supply side - As of January 2022, it is estimated that, every week, there are 20,000 to 50,000 sales of NFT projects, each of which usually consists of thousands of NFT assets.

Near-excessive supply, coupled with limited utility, is going to inflate NFTs' value and diminish the possibility of mainstream adoption of NFT. Capsid aims to solve this problem by enriching the utility of NFTs and build a sustainable ecosystem for digital assets.