A lot of “Influential” individuals talked about NFTs in the past 2 years and many have predicted its demise. Every innovation follows a pattern and can be defined at the core which in my opinion does not depict the true value of that innovation
1. Defining NFTs
Many have tried to define NFTs. Some called them “digital assets”, others called them a movement, but the truth of the matter is, NFTs are much more complicated than that and by understanding this you will be able to understand how to sell NFTs.
NFTs can be used in 3 main ways: Digital identities, digital assets that can be traded and exchanged, and lastly provable access cards. There are other ways& business models of course, but let’s focus on those for now. Will detail each use case below 👇
2. Digital identities
When you start any game, you are asked to pick an avatar, customize it and use it within that ecosystem. NFTs are similar as they help create a digital identity for you within the eco. Issue is those identities remained on @X & did not move to IRL
To sell NFTs as identities, UX has to be streamlined.
1. Page 1: Landing page about the business.
2. Page 2: Choose ur avatar [NFT]. Once user picks one, they have a description of what they would get when buy it & they can purchase directly by card.
Does it mean this is it? Not at all, but if you can streamline the process and have users buy NFTs for the use case they provide, it would go a long way towards a change of perception from tradable assets to Collectible Identifiers [CI]s.
3. Digital Assets
Think of Skins in games, tools you can use, & boosters. You can create the same in your specific ecosystem & expand your business model. These would empower your revenue streams while increasing user retention & loyalty. Limitless options exit here.
4. Provable Access Cards [PAC]
Quantifiable & trackable access cards can help increase customer data gathering & improve retargeting. You can experiment with SBT [Soulbound Tokens] If you want to reward exclusive or early customers. 6551 can effective here [Thread later]
CONCLUSION
NFTs are a not just Tech, or utility. NFTs are bridges that help create experiences becoming identities, dope collectibles, entertainment tools & access tools for a collectively built ecosystem with a boosted business model.
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