Geotagged NFTs: All You Need to Know

What Geotagged NFTs Offer

Geotagged NFTs: The Challenges

  1. Mock location providing applications, spoofing, etc., feature problems that can’t be addressed by just the blockchain and require additional resources from off-chain technology, such as beacons. Beacons are a potential solution for this problem but can pose problems when dealing with logistics or bureaucratic red tape.
  2. gNFTs do not view the location history of the wallet holder, but rather the location of their wallets. This can cause collection competition involving travel to quickly become unfair, as multiple people might share one wallet to mint each location’s NFT rather than one person visiting each location and participating in the competition as the developers intended.
  3. As with all NFTs, gNFTs also suffer from the same skeptical view critics of the technology often cast. This causes the adoption of this exciting technology to slow down, often being unable to break past some key resistance points. This can be alleviated by inviting well-known content creators to generate content talking about owning gNFTs, aiming to attract the masses.

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