Partnered With:

NFT has more "extensibility" than avatars

Read this article in 11 Minutes

The next step for NFT is to be truly imaginative

NFT is just an Avatar? Imaginative Infinite Use Cases for the Future of NFT

Chris Cantino, partner, Color Capital

Perry Wang, Link News

1/ If NFT is explained in terms of an "elevator pitch" (that is, an attractive and concise way to state your point of view), we have all heard about the benefits of NFT:

- Unlimited royalties for artists;

- Community ownership of NFT;

- a 24/7 trading market;

-token-gated (token-gated) entry method;

That's all well and good, but the next step for NFT is to be really imaginative and let me talk about it.

2/ Widespread application of NFT in retail industry

From 7 to 11 to & have spent Gamestop Such retailers will use NFT to incentivize real-world transactions, using creators to drive traffic to their stores.

For example, the Yeezy NFT, which can only be unlocked if purchased from a Gap retail store, or the NFT, which can unlock features exclusive to Tesla cars.

3/ The widespread application of NFT in service industry

NFT will be used in the future to unlock access to the service and enthusiast community. NFT holders will be able to engage in q&A and tutorial interactions with influential chefs, photographers, doctors and niche hobby communities, and this model will flourish.

This will also extend to real-world services such as transport, hotels and massages.

4/ Social movement

As millions of people enter the crypto community, communities that support political causes through NFT ownership will gain a strong focus.

It is possible to imagine a community of NFTS involved in the climate change social movement, with sales of NFTS being used for political lobbying, coordinated by community DAOs.

5/ Social feeds market

In the future, there will be social information streams based on NFT collections, such as strategies and research for top collectors, and platforms to interact with collectors.

These social news streams will evolve into social e-commerce marketplaces, with comments, analytics and more.

6/ Multiplayer (Multiplayer)

NFT will create hive activity by motivating group behavior. An MMORPG, for example, unlocks new levels once it reaches 10,000 users. Airdrop rare NFT to users who have signed contracts to pool their underlying NFT funds.

Collecting will then become a team sport.

7/ NFT lending platform

Because NFT can unlock temporary access to, say, meetings, a market for short-term lending is emerging. For example, I personally lend $FWB to friends so they can participate in related activities.

Think of it as a marketplace: StubHub, but with NFT.

8 / NFT index

With market vanes instructing collectors to put money into NFT, investments indirectly gaining exposure to hundreds of NFT projects through the index will surge.

Imagine a "Christie's NFT ETF" in the future. They will have the effect of making assets liquid - investors will go crazy.

Such indices will also expand support for the NFT community.

9 / mortgage

So far, crypto Lending has opposed NFT holders borrowing against NFT collateral.

But as institutional capital flows in the future, NFT assets become better stores of value, with the collateral market providing flexibility and liquidity to all NFT holders, rather than just the whales.

10 / fragmentation

In the future, NFT could be split into several equity shares, allowing more people to invest in NFT blue-chip assets, such as owning a few fractions of Cryptopunk.

What's the result? As more money enters the NFT market, the liquidity of NFT holders increases and the appreciation of NFT blue-chip assets will be greater.

11/ DeFi

As it becomes easier for NFT enthusiasts to pledge and farm NFT assets for profit, the benefits of NFT will extend beyond APY.

NFT will be the underlying asset of DeFi, including providing community access. Such projects will not be simple savings games -- NFT will become an investment in the community.

12/ For loyalty

As brands and creators seek to build loyalty, fans receive NFT rewards for their activities in the community. Did members contribute content? You get NFT. Did you participate in the survey? You get NFT. Made a purchase? You get NFT.

Tokens are more liquid and face-saving than traditional coupons.

13 / research and development

Brands and creators will gain outside insight into product development by offering NFT rewards: pain points, marketing propositions, road maps, etc.

NFT can be a stepping stone to early product launches and a share of potential profits. Brands track and maintain these vital relationships.

14/ Content contribution

Users will be able to submit short videos, reviews and tutorials in exchange for NFT rewards in the future. This is a cold-start flywheel in marketing.

The rights can be coded into a smart contract that uses the advertising effects of the contributor's content to generate future profits for the contributor.

15/ Customer group NFT

Imagine how valuable an NFT would be today if you received one of the first customers for Air Jordan sneakers. What special channels and products Nike will reward you through over the years.

The group NFT is used to prove that you took a particular action at a particular time.

16/ Customer education and customer support

Users can earn NFT rewards for demonstrating exceptional knowledge of the brand's products, which can be used by companies to attract new people to the community or to provide customer support.

This may have more impact than a brand employee doing the same thing.

17 / bounty

Creators and brands will publish unique tasks within the community and reward those who complete the tasks with a certain AMOUNT of NFT. Such tasks can cover anything from completing surveys to recommending members to the community and attending events.

Rewards can be highly competitive or completely open-ended.

18 / list

The NFT community gamifies participation by ranking the performance and engagement of leading coin holders.

Top contributors will receive awards and influence weights to motivate the community to actively own the NFT and participate to ensure a better return on their investment.

19/ The development of NFT is just beginning, the future is bright. NFT technology is making progress every day in making community participation widely available and rewarding. The market is extremely promising.