Chips and guacamole are a combination we can all get behind.
The chip is great. Salty, crispy, and a perfect vessel to scoop and eat that delicious guacamole.
But let’s be honest.
The guacamole is the star of the show. We are here for that zesty guacamole.
- The experience is the guacamole
- The vehicle is the chip
This is how we view technology at Liquiditeam and specifically, NFTs.
The NFT is the vehicle and the utility/benefits to the user is the experience.
Until now, the industry has put so much focus into NFTs as a technology while its merely a vehicle to provide even more value.
This is why we have put so much focus on how to make the value of NFTs more than just the technology they are made with.
So this post will go into depth of how we built NFTs in Unyfy, our content and community platform builder.
So we are calling this the “Unyfy NFT-based Product Guide.” We will explore the world of NFTs and their potential to fundamentally change the way we interact with digital & physical goods. Whether you’re a Web3 enthusiast, a content creator, or simply interested in the latest technology trends, this guide will give you valuable insights into the power of NFTs.
If you haven’t heard of NFTs yet or don’t know much about them, just read this to get a brief intro to the technology and why it’s so exciting.
In the following sections. I’ll provide you with some interesting use cases and application examples that are possible with NFTs in general and very easy to implement if you use Unyfy. Let’s dive in.
NFTs offer a range of possibilities to incentivize loyal and engaged members in your community. For example you can create limited-edition digital collectibles and hand them out as a reward for certain activities - some of our customers simply call these collectibles “stickers”, others create various badges for active community members. Or you can generate NFTs with a special utility in your community, such as access to exclusive content, community events, and more. In general, NFTs are a great tool to create a sense of exclusivity and value for community participants, simply because they are scarce, owned, and useable across many web3 applications. Such digital assets can cultivate a strong sense of community, encourage active participation, and reward members for their ongoing engagement.
The world-renowned soccer club Borussia Dortmund does exactly this by giving out special digital collectibles via their BlackYellow App. At various events, such as football tournaments in New York or games in Asia, attending fans could claim said collectibles by simply scanning a QR-Code.
> Check the reference case of BVB in this video
NFTs can be used as access passes that grant exclusive access privileges to premium content or events. This can include digital content such as art collections, music, videos, or special editions of products. This way, you introduce scarcity and exclusivity to your content which makes NFT-based Access Passes attractive to your audience.
Our client Viktor Thorup, an Olympic ice and speed skater, utilizes NFTs as a means to deliver personalized technical feedback to his community members who acquired an Access Pass.
> Check how Viktor Thorup uses NFT access passes
Certificates / Badges
NFTs can be used as digital certifications or badges providing a tamper-proof way to verify achievements. This is particularly suitable for online courses, workshops, and events as well as within a community or professional network to recognize and reward specific skills, achievements, or contributions.
Megamarsch, an organizer of ultra long-distance hikes, where the goal is to cover 100 km within 24 hours, lets hikers collect NFT-based “stamps” at various checkpoints along the way.
> Check how Megamarsch uses NFT-based stamps at their events
Digital Twins For Physical Product Funding
NFTs can be used to represent a digital copy or virtual version of a physical product, such as limited edition merchandise or collectibles, with the understanding that the physical product is manufactured and delivered to the NFT holder after the NFT has been sold and the funds for manufacturing have been covered with the #phygital
Soccer legend Joelinton from Newcastle United embraced the power of NFTs by utilizing them to crowdfund the production of a unique Hawaii shirt featuring himself. The initial idea, sparked by a fan, came to life as NFT sales paved the way for the shirt’s production. Certain NFTs even offer exclusive benefits such as owning a game-worn and signed jersey by Joelinton himself.
Charitable or Sustainable Actions
NFTs have opened up new avenues for charitable and sustainable actions, leveraging their potential to raise funds for greater causes. By minting and selling NFTs, organizations and individuals can generate revenue that can be directly allocated towards initiatives such as supporting charitable organizations, funding environmental conservation projects, or promoting social causes that drive positive change in the world.
Our company’s client, Stanglwirt, a 5-star bio wellness hotel, utilized NFTs to sell tree certificates to ensure reforestation while also offering buyers the opportunity to win additional rewards.
As you can see in this brief overview there are a lot of fields where NFTs can be applied to and moreover even more possibilities for individualization within those application areas. It is to be expected that with the progression of this technology, the importance grows and integration options get continuously better and indispensable.
Due to the negative sentiment that followed the bursting of the NFT bubble, many people are skeptical when they hear the term. However, it is important to recognize that the underlying concept of scarce, ownable digital objects with added utility remains relevant. The initial hype surrounding NFTs created the impression that they were merely overpriced images without real value, leading to a burst bubble. However, it is crucial to understand that NFTs are more than that; they serve as a means to create new digital products with utility and functionality. Therefore, we should view NFTs as an emerging technology that offers diverse applications and potentials beyond the initial hype and price fluctuations.
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