LCTs, NFTs, Utility Tokens
Are LCTs just a different flavor of NFTs or Utility Tokens? Kinda-sorta, but not really.
WEB3 isn't "Real" (Yet)
'Ownership' of blockchain 'assets' currently consists of access to a set of cryptographic keys. This is not enforceable. There's no recourse if keys are compromised. Blockhain 'assets' are merely records in a distributed, immutable database with no inherent value or utility. Businesses operate in the real, physical world and need solutions for verifiable ownership and control of devices.
Markets and Customers
WEB3 is in search of a 'killer app'. The physical world is in need of an effective zero-trust-based asset and transaction management solution for supply chain management, physical asset tracking, ownership, use authorization and resource utilization.