Putting NFT Utilities Into Your Business
We are seeing "Utility" based projects struggle, because their tools are only useful within the NFT ecosystem— Turnt Up Dylan / DKS (33.3%)《TYR》 (@TurntUpDylan) July 4, 2022
When NFTs struggle, so do these accompanied tools
WL/collab/data/trading tools don't have much use in a bear NFT market
We need "utility" that ventures outside NFTs
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Types of Utilities in NFT
Play to Earn NFTs – When playing games, participants will compete to win or obtain that unique feature of the games. The users will be able to instantly redeem an earning or value from these NFTs. NFTs like Axie Infinity, Pegaxy and Spliterlands which players have to hold in order to participate in the game play.
Gambling NFTs – Gambling NFTs like Gambling Apes. The focus of Gambling Apes is gambling. The future, jointly owned metaverse casino is the project’s key selling feature. Every month, as a Gambling Ape owner, you will receive a portion of the casino’s earnings in addition to special access to specific tournaments and events that aren’t open to the general public. The industry’s growth spurred by covid was only the beginning. These days, NFT projects explicitly target this industry, paving the stage for next advancements. The potential for expansion is huge.
Community NFTs – Users who purchase this NFT and have access to exclusive fan communities in addition to owning it. An example would be the VeeFriends NFT. With the NFT, you would be able to attend VeeCon, the developer’s convention for creativity, marketing, business, and community enjoyment, for three years.
Sports NFTs – Given that sports enthusiasts are well-known for being enthusiastic collectors of memorabilia, whether it is vintage sporting goods or signatures from well-known sportsmen, NFT sports collectibles may represent an additional investment option. An example would be NBA Top Shot. Each collectable has a blockchain connection in which buyers can acquire the crypto-collectible NBA Top Shot (NFT). By doing this, each NFT is effectively given a special certificate of validity that cannot be altered. Therefore, even if someone creates an exact replica of the highlight movie, it will be obvious that it is phony. A LeBron James highlight sold for $200,000.
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Overview of Marketing your NFT Utilities Strategies
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