 NFTs in the Real World 🌎 Good day, traders. It's Benjamin here.
When cryptocurrency first came onto the scene, the big challenge was finding practical uses for digital coins. Would they be accepted as currency — anywhere you wanted to buy goods? That type of adoption is still in progress.
But when it comes to NFTs, real-world utility is coming at an accelerated pace. We recently looked at how big brands use NFTs in their marketing strategies…
Is there a practical use for NFTs as well?
And are they here to stay? Today, we're taking a look at the opportunities and risks of making NFTs an integrated part of established businesses. Plus, I'll break down what it can mean for NFT traders. Let's go!
Finding Utility for NFTs Check out three new roles NFTs are playing in established business processes and how they might impact the value of NFTs in the future.
NFT Band Leaders and Backup Dancers NFTs are more than just a tradable asset. They're taking on a life of their own.
Universal Music Group recently purchased the Bored Ape Yacht Club character "Manager Noët All" to lead a virtual NFT band called Kingship. The Bored Ape #5537 sold for $360,817.
The band will star one mutant ape and three bored apes. All four NFTs were acquired from collector Jimmy McNelis' personal holdings.
Universal wants the ape-led band to produce its own music and perform virtual concerts in the metaverse.
Also, Characters from the Milkyway Pirates NFT collection recently found their way onto "The Ellen Degeneres Show" as backup dancers for pop star Kiesza. The stunt was meant to promote her new album "Tommy."
Is it possible that NFTs are the new domain names?
If you were around back in the 1990s and early 2000s, you saw people buying up domain names left and right. The hope was that a big company would want the name and buy it, landing the holder a nice little (or fat) profit.
When you purchase an NFT, think about its potential for future marketability. Are you holding something a big brand might find useful?
NFTs as Media Hubs WGMI Studios has a more practical utility than some of its competitors on OpenSea. It touts itself as an "all-in-one media hub for expert-curated NFT news."
WGMI Studios Genesis NFT holders get year-long access to the exclusive content.
Many traders tend to also want to be content creators. They're successful for a while and they jump onto Twitter or YouTube.
Hey, I'm not knocking the practice. I'm in it. I'm just saying that NFTs could be one more way to add value to the content-creation field.
Instead of having to go through networks like Patreon for a subscription model, you can issue your own NFT model instead.
Once you gain a decent following on your main social media channels, you can issue exclusive content through a dedicated NFT.
From there, you can issue token holders special perks, send them premium offers, or benefit from the resale of your tokens to new fans.
NFT Restaurant Chains Yuga Labs grants Bored Ape Yacht Club NFT owners commercial rights. Now, entrepreneur Andy Nguyen is using those licensing rights to start his Bored & Hungry Restaurant next month.
The restaurant opens on April 9, 2022, in Long Beach, California, and all BAYC NFT owners will receive a free meal on that day.
Get your grub while you can though because the project's only a 90-day pop-up. Under the Bored Ape brand of his food nation community, Andy wants to educate people on the business potential open to NFT owners with intellectual property rights.
The sky really is the limit. Maybe you want to play off the Build-A-Bear concept and start a Build-A-Bored-Ape alternative. Or sell nautical Bored Ape merchandise to tourists in coastal destinations.
At some point, you might get tired of staring at technical indicators on a screen all day. Maybe you'll decide to take a leap of creative faith.
NFTs make it easy to start any kind of merchandise business with a brand and logo that already has name recognition. That's an advantage over no-name competitors.
Conclusion In a short amount of time, NFTs have accomplished what artificial intelligence and cryptocurrencies are still working on — they've become integrated within the fabric of business and consumer life.
But you have to be careful. With every hot new thing, there are likely to be scammers around. It's hard to know what will be the next big thing and what will be the next letdown.
That's all for today. And always remember,
Keep your eyes on the coin,
Benjamin Bull Editor, Coin Craziness
K2 Financial 3571 Far West Blvd
This email was sent to diansastroxz.forex@blogger.com. Don't want to receive these emails anymore? Unsubscribe
|
Post a Comment
Post a Comment