NFTs should further popularize the cryptoeconomy

NFTs should further popularize the cryptoeconomy

Popular with young people and cryptoeconomics and technology enthusiasts, NFTs are increasingly conquering the public by combining innovation with exclusivity. But what is the future of these digital assets?

For Rodrigo Soeiro, founder of Monnos, a Brazilian cryptobank, NFTs are a way to bring companies and audiences together and revolutionize brand experiences.

“NFTs are transporting digital asset technology to sectors that have never been part of this disruption, such as art, music, fashion, beverages, gaming, and other entertainment. This expansion of sectors has huge market potential, and brands that know how to explore this will grow significantly, ”he explains.

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NFT comes from the English expression non-expendable witness, which means non-expendable witness. They are a type of cryptographic tokens that represent something unique in the world and have no intrinsic value, but subjective. These are tokens that cannot be exchanged as cryptocurrencies, but are bought and sold through offers or offers.

“The arts sector was one of the first to visualize the commercial potential of NFTs, linking them to goods whose exclusivity is already attractive, such as paintings and sculptures. But NFTs go further, they can explode in any good collectibles, they can explode in any good collectibles such as figures, stamps and even game avatars.This is where the role of brands comes in, to visualize this potential for consumption linked to their products or services ”.

An example of NFT is the Bored Ape Yacht Club (BAYC), digital assets created in a limited and collectible way, and which have already been acquired at millions and prices unimaginable by great personalities like Neymar, Madonna or Justin Bieber.

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For BAYC holders, there are a number of benefits ranging from access to exclusive events from around the world to receiving gifts from the biggest global brands in your home.

There are also privileged media spaces, which include members of this VIP club. For example, imagine Neymar and Madonna drinking a certain drink that is also part of BAYC. Thus, Yuga Labs, the company behind the initiative, has created a powerful and valuable community, which still has the potential to feed back and generate value for every new member it attracts.

“Approaches like these will be replicated by companies around the world: building communities around a brand, or a testimonial that becomes a brand. The limit is in the creativity of each company, because now, more than ever, the possibilities are wide and without barriers “, points out Rodrigo.

Simpler NFT applications also have an impact, such as playing to win games. An example is Axie Infinity, from RTFKT, a company that sells avatar sneakers and was acquired by Nike. There are also music festivals like Coachella and Budweiser Royalty NFT Drop that offer benefits linked to digital assets.

“The fact is that companies are feeling this market, and they have already realized that it is an opportunity to increase revenue, interact with an audience so far scattered in various niches and, above all, to be able to offer a level of commitment. in brand experiences that were previously impossible until then “, he adds.

The expert concludes that NFTs should further popularize the cryptoeconomy. “The potential impact of NFTs has been immeasurable from the moment companies and segments, hitherto far from the cryptoeconomy, will be dragged into this ecosystem. The surprise was great even for those who are in this market. unparalleled possibility of cryptographic massification. “

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