Although the world generally sees NFTs as a new way of collecting digital items, what NFTs are actually doing is providing a means of continuous transference of ownership – not just of things in the digital world, but also in the physical. NFTs are a function, and what the tech behind them is capable of is revolutionary.
Prior to blockchain, digital artists would sell their work as prints, or lend their illustrative skills to others as freelancers. Now, NFT Marketplaces are filled with digital art as collectors invest eye-watering amounts into eye-catching projects. However, this is barely scratching the surface in terms of potential use cases for this new technology. As mentioned prior, NFTs are a function, and one that can be manipulated as the creator desires due to what is written in an NFT’s smart contract.
Imagine a doughnut NFT that was not simply an aesthetically pleasing JPG of a doughnut, but also gave the owner access to a free box of a dozen Krispy Kreme doughnuts every Friday, by mere virtue of showing the store owner they were the owner of said NFT. Or picture an up and coming children’s book author who releases 50 limited edition versions of his next book release, along with 50 corresponding NFTs which give the owners access to all future live events the author holds throughout his career. Let’s say his books go on to do phenomenally well, and they get turned into a series of movies in Hollywood. Holders of those 50 limited edition book NFTs would get free tickets to every movie premiere. These kind of NFTs featuring utility to this degree would be well sought after, and if the smart contract says so, a percentage of every resale will go back to the original creator of the NFT i.e. Krispy Kreme, or the children’s book author.
This is gradually becoming a reality. Big brands and corporations are already beginning to play in the NFT arena. At the beginning of November, McDonald’s announced on Twitter they were giving away ten Limited Collection “McRib” NFTs.
Spores Network has prepared itself well for this moment with its launchpad, gaming incubator, and upcoming metaverse. As an all-in-one NFT Marketplace offering services across the channels of Art, Gaming and Entertainment, we are technically equipped to position ourselves in the market to be ready to collaborate with these brands and companies. This is due to our capabilities as a media company who can facilitate cross-pollination across our own marketplace verticals. Artists who want to get involved with corporate brands can take advantage of the connectivity our platform is offering. We will even be able to connect influencers with industries that were otherwise out of their reach, such as gaming.
Our Launchpad will help play-to-earn games launch successfully by hosting Initial NFT Offerings (INOs). NFTs on offer will be in-game assets such as land transportation, weapons, skills, character sales and more. Secondly, Spore’s GameFi Incubator will invest in GameFi IDO’s, in addition to managing the operation of blockchain game studios. Venture capital-style support will be available, providing functional expertise across funding, marketing, operations and tech.
While the initial phase of our Metaverse will be tailored towards artists and Spores’s individual patrons, Phase Two will include the creation of a fantastical digital 3D playground and gamified open world ecosystem, where all IP and brand partners can interact with people who are choosing to enrich and connect between their digital and physical lives.
As the world continues to increasingly adopt the use of NFTs, big brands will follow suit because wherever there is attention, there is opportunity for business. However, an ever-increasing amount of the world’s purchases and processes are still awaiting tokenization. A mass supply of new types of NFTs will require interconnectivity to help brands and artists find one another in a new web of information. We have begun building the necessary infrastructure in preparation for the coming digital age, and when the corporate world is ready to do business inside the Metaverse, Spores Network will be ready.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.