For instance, consider Dominoes, who just offered the ability to order real life pizza from inside Decentraland, a decentralized virtual world built on NFT real estate (just go with it).New Data 'Poisoning' Tool Enables Artists To Fight Back Against Image Generating AI Where do they want to participate, what are their fans interested in, and how can they create something worth collecting? Of course brands will need to play to their strengths not everyone can start making crypto art. Second, the auction sites where artists drop their NFTs attract in-the-know audiences, true and passionate fans. Often the digital asset is part of a greater experience. First, NFT ownership can grant special privilege after the sale or even change form as Beeple showed us with Crossroads. But whoever owns it at this time tomorrow gets a print.” I kind of expected somebody to go to the person who only spent 200 bucks and be like, “I will give you $15,000 for that NFT that you spent 200 bucks on.” I expected it to change hands. So you have 24 hours if you want to resell it. As stated for Input Magazine ““Surprise, everybody who owns one as of tomorrow is going to get a signed, one-of-10 print of the art. The twist here is that Shinoda made an announcement once the auction was over. A 75-second clip of the track "Happy endings" was packaged with an animation of original artwork by Cain Caser and Shinoda, in a run of 10 editions. In February he became the first major-label artist to launch a new single through an NFT auction. Shinoda has been following and collecting NFTs before we all knew about them. That’s where Shinoda comes back into our story. Scarcity and personalization is hard to beat. Perhaps the most interesting “feature” is the ability to “breed” your shoe with other Crypto Kicks, a la CryptoKitties, on the blockchain to produce unique variations that Nike might produce as real world shoes at a later date. Crypto Kicks - as they’ve been named - appear to satisfy real and digital world demands by offering physical shoes with attached digital tokens that can hold a variety of information. Nike hasn’t released an NFT yet, but they’ve filed a patent which has the internet aflutter. To really get excited about NFT potential we need only look to Nike and Linkin Park’s Mike Shinoda’s recent NFT concepts. The NBA has probably the most popular and far reaching application of NFTs in their Top Shot platform, which is essentially a website that allows fans to buy and sell basketball cards. Their $1 GIFs sold out in minutes and resold over and over, some gaining value up to $3,000. Taco Bell created NFTacoBells to raise money for their Live Más Scholarship. Some brands have seen great success with their first NFT offerings. "Eighty-two percent of Millennials will purchase an item the first time they see it if they like it enough” while "71% will pay more for a product if they know some of the proceeds go to charity”. Even charitable donations can be attached to a unique asset or experience through an NFT, allowing brands to tap into this emerging technology while satisfying today’s consumer values. So how can brands get involved? Think exclusive digital products, collectables, VIP event access, ticketing and bragging rights to name a few. An NFT is simply a digital asset that cannot be copied, modified or replaced because the owner’s name is attached to the file and recorded on the blockchain. If we look at NFTs for what they are at their absolute base level, we can begin to see how brands can start to get their feet wet. This is where things get really interesting and the potential begins to surface. 1 That’s a pretty big flex in the right circles. The Nyan Cat NFT is a cryptographic token minted by the original creator, sold to a buyer who can now claim “ownership” of a piece of internet culture. Technically the GIF we’ve been sharing for the last decade is still out there for all to see and use. "An animated cat with a Pop-Tart body flying through space from 10 years ago is now owned by one person?” exclaimed the collective population. Chris Torres subtly fixed up his popular Nyan Cat GIF and sold it for nearly $600,000 in February of this year, causing everyone to gasp. The majority of us first learned of NFTs through a few different instances of astronomical sale prices for items we’ve seen before. Remember when we all shrugged off Twitter because its primary purpose seemed to be updating us on our friends’ bathroom or coffee breaks? Just because its current form doesn’t seem universally appealing or sustainable, doesn’t mean it won’t adapt. While this is an accurate statement, it’s also very limiting and causes most of us to shrug the whole thing off as just another digital fad. Let’s start by dispelling the widely accepted understanding that NFTs are simply GIFs from the past reformatted for the blockchain and bought by people with more money than sense.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |