Zack Burks, CEO and founder of NFT trading platform Mintable, recognized the potential connection between NFTs and CBDC through this collaboration with Mastercard:

“The huge potential of NFTs is clear in this progressive CBDC pilot. Together with Mastercard, we have identified use cases where digital currencies and NFTs can be easily linked.”

Burks noted that a link between the two could help eliminate fraud and theft, which could prevent "the loss of documents and records." Moreover, compared with digital currency, NFT has a wider range of applications in society.

"Although digital currencies are still in their infancy, NFTs are already being used in new media, games, digital identities, loyalty programs, ticketing, identity verification, certificates and other fields."

This echoes BeInCrypto’s recent report. The report states that Australia’s CBDC pilot demonstrates that CBDC should complement rather than replace Crypto assets.