NFT The speculative enthusiasm in the market has reached its peak. At the same time, we have made innovative preparations to empower mainstream brands with basic technologies suitable for meeting new user connections and needs.
During this period last year, NFT players only needed to spend about $300 to hold a BAYC monkey. In contrast, today you need to prepare at least $300,000 to obtain even the cheapest monkey NFT. Conversely, “ blue chip ” projects like Cool Cats have seen their market prices halved in the past few months – from an all-time high of 16 ETH to under 5 ETH.
The top NFT lies in its brand . It is undeniable that membership of BAYC or WoW demonstrates and means a different identity and status for each NFT player. The NFT held by the player is used as a personal PFP or a car license plate number, and is displayed to the outside world as a strongly bound brand effect .
In the next wave of NFTs - NFT 2.0 - we will see exciting innovation moments for head NFTs, namely the Metaverse, games, and expansion and collaborations with major brands IRL (in the real world) .
What’s even more interesting is that we may see many mainstream brands enter this “battlefield” with great ambitions. There will no longer be verbal commitments to the implementation of "rights and interests". We will achieve new breakthroughs in the application of NFT technology, the core of which is to empower users to better use their favorite brands.
Implementation Rights
Until today, rights often include product-enabled services and promises of future airdrops, to NFTs used to earn income in future games.
In some cases, equity can be confused with unrealistic verbal promises. In order for NFTs to achieve the expected value they promise, it is critical to give NFT collectors rights beyond asset ownership.
Nifty Tailor is a platform created to realize the reorganization of NFT rights and generate continuous value for NFT collectors. Holders of Bored Ape (BAYC) and Mutant Ape Yacht Club (MAYC) will be excited to add to their exclusive NFT holdings, but there’s more to their ownership than just that. Nifty Tailor has launched the first ever verifiable NFT derivatives series on the chain, allowing BAYC and MAYC holders to create derivative NFTs based on the original NFT. In addition to personalized NFT clothing matching, its holders Royalty income can also be earned from the sale of derivatives in the secondary market. Nifty Tailor not only provides secondary income opportunities for collectors and creators, but also makes it easier for mainstream brands to enter the world of NFTs because they don’t have to worry about preparing to release their NFTs.
Perhaps for traditional Web2 consumers, the consumption value of Cool Cat or pixelated stoner is not obvious. However, as more and more brands, such as Nike, Adidas and Asics, make similar efforts to move into NFTs, it’s clear that they have discovered the value of digital assets. It turns out that in order for NFTs to empower Web2 or Web3 consumers with meaningful rights, brands must rethink tokens and the way they demonstrate value to users.
Reinventing Tokens
The key to extracting value from NFTs is not just treating them as static images. Although the Cambrian explosion of NFTs lasted only one year, we can already foresee a variety of potential NFT use cases in the future. From healthcare and passports to real estate and artwork verification, NFTs have endless possible application scenarios. To ensure that NFTs can truly empower users and deliver the benefits they promise, builders must examine what these tokens represent to provide benefits that meet user needs and interest them. In order for NFTs to provide practical and useful benefits, they need to have direct and practical applications. More importantly, they need to be closely bound to Web2 users, with clear and vertical benefits rather than just talk on paper.
Smart Token Labs firmly believes that tokens will become the foundation for building the future of Web3 and serve as a bridge across the world.As a result, the team has established a wide range of partnerships to better assist Web2 brands in building their own NFTs and strategic development of their digital products. The most typical case at present is the event ticketing service. Smart Token Labs has cooperated with several high-profile event brands, including FIFA Cup, European Cup and the Ethereum Foundation's DevCon, to provide event services. Participants provide proof-based derivative NFTs as tickets using . In addition, the event's website can also identify the NFT in the holder's wallet and provide event-specific event opportunities based on the type of NFT they hold, which not only simplifies the cumbersome process of purchasing and carrying traditional physical tickets, but also simplifies the process of purchasing and carrying traditional physical tickets. It also makes it easier for users to better control their ownership, or transfer or carry their assets.
NFT as the entrance to web3
The radical point put forward by blockchain enthusiasts is that the premise for to successfully implement Web3 is that Web2 must collapse . Although die-hards will have paranoid views, in reality, everyone will eventually find that the combination of Web3 and Web2 is the most successful and effective.
So, how will Web2 interact with Web3 frictionlessly? Perhaps surprisingly, the answer is NFTs. Although the current application scenarios of NFTs are relatively limited, the potential of NFTs cannot be underestimated. In addition to animal NFTs, these tokens also have another point that cannot be ignored - verifiable ownership. Valuing the existence of ownership allows us to envision a wider range of potential scenarios - simply going from provable authentication to something like simple car ownership.
Although many people in Web2 are still skeptical about the future development of NFT, once Web3 continues to demonstrate value to the groups in Web2, NFT will eventually become a favorite entrance to Web3 for users.
Carla Chan’s recent collaboration with La Prairie is a successful example of how NFTs can bring mainstream Web2 brands onto Web3 platforms. As two major brands from different fields, Chan and La Prairie have teamed up to issue an NFT for NFT collectors that is unique and drives real-world social good. NFTs are issued based on the designs of 31 of the most populous cities around the world and are related to the current weather, thus providing holders with varying NFT artworks. More importantly, proceeds from the sale of NFT artworks will be used to protect Swiss glaciers, which also proves that NFTs can simultaneously bring positive and tangible impacts in off-chain life.
Summary
The NFT market has not yet realized its huge potential . Of course, the emergence of new projects, considerable or even huge transaction prices, and active and highly sticky communities and members are all things that are gratifying and exciting. However, what is even more exciting is the unlimited future development of NFTs. Current iterations of NFTs prove that verifiable ownership is more valuable than we thought. The next return of NFTs, or you can call it NFT 2.0, will let everyone know that tokens can essentially change our attitude towards every vertical field involved in life - from marketing to healthcare and both. everything in between. As more and more Web2 brands and companies enter this field, the most important thing is that they must have a clear guide to Web3 in order to better understand the links and impacts of issuing NFT and all related marketing. , and can improve and deepen the understanding of tokens.
