Institutional operators are really wary of trying to implement a system that lacks any form of insurance and that is how they see NFTs and crypto. So even when a great NFT project tries to break into the establishment systems and make an impact, that fear of loss of assets and investments without insurance scares institutional actors away.
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It is true, institutional people like the security of a regulated market, there are opinions on both sides, if you want to attract institutional people you have to change that scam view they have against NFT and some cryptos