Crypto investor, copywriter, and entrepreneur from Ukraine. Because of war in my country, I can die. **** Putin!
For now, the NFT industry is still mostly associated with digital art and GameFi. In 2021, the hype around NFT-art sales has overshadowed the use of real-world assets in the real-estate sector and service industries. So how traditional businesses can use NFT technology to their advantage?
NFT technology can be described as a blockchain-based certification system. But it can be applied not only to the virtual sphere. It can be applied to tagging real assets and to tokenizing real services like digital concert tickets, club passes, or anti-cafes.
For a business model to function, there needs to be a system that can secure the ownership of a product or the right to use a service. In the physical world, these procedures happen all the time, but without excessive formalism, like granting rights to use a movie theater seat for a single session.
In the digital realm, confirming ownership and therefore establishing the buying and selling process is more challenging. The nature of digital assets allows countless copies to be made. These copies are considered replaceable (identical). The original cannot be distinguished from the copy. Hence the value of non-fungible tokens.
They allow ownership of digital assets to be established and streamline sales of unique goods and services. Nowadays, even for traditional businesses, representation on various platforms (social networks, marketplaces, blogs, etc) is important. This is why the digitization of economic relationships is so important.
Some companies come up with unusual solutions in order to attract an audience with cryptocurrency. Since cryptocurrency is still not a legitimate means of payment in many jurisdictions, they have to go for tricks. For example, they place coupons and certificates on the crypto marketplaces. But creating NFTs will be more effective in terms of attracting people.
So creating your own NFTs can help build your brand awareness among the crypto audience.
Often, blockchain companies use cryptocurrency and NFT giveaways to reward their community for active participation. Essentially, an airdrop is a transaction in which a company sends tokens from its portfolio to a portfolio of users.
Airdrops can be used by traditional businesses. Moreover, such NFTs can be made unique and exclusive. This will make an airdrop more attractive for people and therefore more successful.
You can use NFTs almost in any traditional business. For example, you hold a club or an anti-café. You can reward your users for regular visits, for winning contests and tournaments, or just as a regular promotion. Such an NFT could be a daily, weekly, or even monthly subscription to a club.
For now, the NFT industry is still mostly associated with digital art and GameFi. In 2021, the hype around NFT-art sales has overshadowed the use of real-world assets in the real-estate sector and service industries. So how traditional businesses can use NFT technology to their advantage?
NFT technology can be described as a blockchain-based certification system. But it can be applied not only to the virtual sphere. It can be applied to tagging real assets and to tokenizing real services like digital concert tickets, club passes, or anti-cafes.
For a business model to function, there needs to be a system that can secure the ownership of a product or the right to use a service. In the physical world, these procedures happen all the time, but without excessive formalism, like granting rights to use a movie theater seat for a single session.
In the digital realm, confirming ownership and therefore establishing the buying and selling process is more challenging. The nature of digital assets allows countless copies to be made. These copies are considered replaceable (identical). The original cannot be distinguished from the copy. Hence the value of non-fungible tokens.
They allow ownership of digital assets to be established and streamline sales of unique goods and services. Nowadays, even for traditional businesses, representation on various platforms (social networks, marketplaces, blogs, etc) is important. This is why the digitization of economic relationships is so important.
Some companies come up with unusual solutions in order to attract an audience with cryptocurrency. Since cryptocurrency is still not a legitimate means of payment in many jurisdictions, they have to go for tricks. For example, they place coupons and certificates on the crypto marketplaces. But creating NFTs will be more effective in terms of attracting people.
So creating your own NFTs can help build your brand awareness among the crypto audience.
Often, blockchain companies use cryptocurrency and NFT giveaways to reward their community for active participation. Essentially, an airdrop is a transaction in which a company sends tokens from its portfolio to a portfolio of users.
Airdrops can be used by traditional businesses. Moreover, such NFTs can be made unique and exclusive. This will make an airdrop more attractive for people and therefore more successful.
You can use NFTs almost in any traditional business. For example, you hold a club or an anti-café. You can reward your users for regular visits, for winning contests and tournaments, or just as a regular promotion. Such an NFT could be a daily, weekly, or even monthly subscription to a club.