NFTs are often seen as a way to collect digital items. However, NFTs actually provide a way for continuous ownership transference – not only of digital objects, but also of physical items. The tech behind NFTs is revolutionary. They serve a purpose.
Before blockchain, digital artists sold their work as prints or gave their illustration skills to others as freelancers. NFT Marketplaces are flooded with digital art, as investors invest large sums into eye-catching projects. This is just a small sample of the potential uses for this technology. NFTs, as mentioned, are a function. They can be modified however the creator wishes, thanks to the smart contract that is included in NFTs.
Imagine a doughnut NFT which was more than just an attractive JPG of a doughnut. It also allowed the owner to receive a box of 12 Krispy Kreme doughnuts for free every Friday by simply showing the store owner that they owned the NFT. Imagine a young author of children’s books who releases 50 limited edition copies of his next book, as well as 50 NFTs that give owners access to all future live events. Let’s suppose his books do well and are made into a series in Hollywood. The 50 limited edition NFTs would give holders free tickets to all movie premieres. These NFTs with utility of this magnitude would be highly sought-after. If the smart contract states so, a portion of any resale will go to the original creator of NFT, i.e. Krispy Kreme or the author of children’s books.
This is slowly becoming a reality. NFT is a growing market for corporations and big brands. McDonald’s announced via Twitter that they would be giving away ten Limited Collection McRib NFTs at the beginning of November.
Spores Network is well prepared for this moment thanks to its launchpad and gaming incubator. We are a one-stop NFT Marketplace that offers services across all channels of Art, Gaming, and Entertainment. This allows us to be prepared to partner with these companies and brands. Our capabilities as media companies allow for cross-pollination within our respective marketplace verticals. Our platform offers connectivity for artists who wish to work with corporate brands. Our platform will allow us to connect influencers with other industries, such as gaming.
The Launchpad will allow play-to-earn gaming to launch with success by hosting Initial NFT Offers (INOs). The NFTs offered will include in-game assets like land transportation, weapons and skills. Spore’s GameFi Incubator, which will also manage the operation of Blockchain game studios, will invest in GameFi IDOs. Venture capital-style support will also be offered, offering functional expertise in funding, marketing and tech.
The first phase of the Metaverse will focus on artists and Spores patrons. Phase Two will create a digital playground and open world ecosystem that all IP and brands can use to interact with people who want to enhance and connect their digital and physical lives.
Big brands will soon follow the lead of the NFT-using world. There is always opportunity for business where there is attention. Tokenization is still required for an increasing number of global purchases and processes. Interconnectivity is required to allow brands and artists to find each other in a new information web. Spores Network will be available when the corporate world is ready for business in the Metaverse. We have already begun to build the infrastructure necessary for the digital age.
Disclaimer: This article is intended for informational purposes only. This article is not intended to be used for legal, tax, financial, investment, or any other advice.