Contributor: Vanessa Bravo Gomez
February 1st, 2022
Welcome to the rise of the metaverse, where people are buying millions of dollars’ worth of digital art of apes on drugs called NFTs. This may sound ridiculous, but actually entrepreneurs around the globe are using these forms of art as a tool to expand their business.
So…what exactly is a NFT? In basic terms, a non-fungible token serves as a certificate of ownership for a distinctive item. NFT’s may seem like simply digital files but their true value comes from the information within those files. The use of NFT’s facilitates transactions to save time and money, eliminating any typical fees. They provide the ability for business owners to create loyalty cards that include discounts, or even patent their business in a faster, cheaper, and legitimate way through the blockchain.
The main benefit creators are seeing is equity crowdfunding, as creating a NFT collection can give your customers exclusive access to a variety of things like festivals, physical products, restaurants, and more. The “Full Send Metacard” project, created by the youtubers known as The Nelk Boys, serves as a token with a “membership pass” to exclusive events and an invitation to buy future NFT project drops. These might include a NFT collection that serves as shares of their hard-seltzer brand, “Happy Dad.” By selling this token, the youtubers are able to receive immediate “cash” that will be used to drastically scale their brand.
Three main takeaways that could help businesses and entrepreneurs:
1) Learn: Get as informed as you can about emerging technologies and trends. Acquiring knowledge on NFT’s now will provide you with much better tools in the future.
2) Incorporate: Either if it is to record transactions or to build an exclusive party with unique members, non-fungible tokens are incredibly valuable and useful.
3) Enjoy: NFT’s are new for all of us. Take your time in order to understand and look at them as a fun way to evolve your technological distinctiveness to get ahead.
Innovation means evolution and what a better way to do so by expanding your business with NFT’s!
Work cited
Glantz, Jen. “I'm Not in Tech but I Still Incorporated Nfts and the Metaverse into My Business Plan – Here's How.” Business Insider, Business Insider, 28 Jan. 2022, https://www.businessinsider.com/how-to-use-nfts-metaverse-cryptocurrency-small-business-2022-1.
Ziemo. “5 Ways You Can Boost Your Business with Nfts Now...” Medium, 10Clouds, 17 Dec. 2021, https://medium.com/beautiful-code-smart-design-by-10clouds/5-ways-you-can-boost-your-business-with-nfts-now-44bb6ed38fbe.
Edwards, Eve. “What Is the Full Send Metacard, Nelk's NFT Membership Pass?” The Focus, 19 Jan. 2022, https://www.thefocus.news/tech/full-send-metacard/.
Picture: https://image-cdn.hypb.st/https%3A%2F%2Fhypebeast.com%2Fimage%2F2021%2F10%2Fbored-ape-yacht-club-nft-3-4-million-record-sothebys-metaverse-1.jpg?q=90&w=1400&cbr=1&fit=max