NFT educational series – Part 4
Have you read Part 3 of the NFT educational series? It was all about how buyers and investors can benefit from investing NFTs.
If you’re into business or would like to explore how to be an NFT creator, then this read is for you!
NFTs offer a lot of advantages for businesses, from increased visibility to new revenue streams.
Here are just a few of the benefits that businesses can enjoy by adopting NFTs:
#1 Digital Proof
Primarily, NFTs allow businesses to create a digital proof of ownership, attendance, and even transference to different experiences they offer their customers.
In the physical world, most art pieces are physically stored, which exposes them to the risk of being stolen or duplicated.
But with blockchain technology, artwork can now be authentically attributed where artists can authenticate the actual ownership of their work by recording the metadata on-chain.
Artists can use existing NFT platforms such as OpenSea, Rarible, and Mintable to mint tokens representing their art pieces.
Once recorded on-chain, the NFT is a unique and distinguishable asset whose ownership can be traced back to a specific entity.
In doing so, anyone can publicly verify the ownership of a particular art piece.
#3 Value Preservation
Creatives are often disadvantaged when it comes to the value preservation of their art.
NFTs change this narrative by introducing an ecosystem where art pieces can yield income for generations.
For instance, the descendants of ancient artists such as Leonardo da Vinci would still be receiving royalties if the art pieces had been recorded on a blockchain network instead of only being physically stored.
NFTs make a bullish value preservation case for both creatives and investors who have an eye for art with such fundamentals.
#4 Building your audience through community
Businesses are starting to take advantage of this new form factor by offering their audience the opportunity to buy into an exclusive community.
This is a much deeper connection between businesses and their audience than just allowing people to purchase a subscription.
And this provides the flexibility where members who have ownership in that particular space can later sell-off if needed - all thanks simply by holding tokens!
Among the special access/perks, a business can provide by issuing NFT include
· access to a community on Discord
· an event
· a Mastermind course
· special coaching opportunities
· and more!
#5 Creation of Economic Opportunity
This is good news for creators.
Imagine a world where content creators are free to own and control their work.
Now imagine if that same freedom existed in how they shared it with others?
With Non-Fungible Tokens (NFTs), ownership is seamlessly integrated into the digital asset itself—so when someone buys your art or music, all funds go straight home!
You can also set up royalty payments by integrating smart contracts during development time; which will allow original artists more revenue streams as well because each resold token includes information about who created them so royalties keep coming back.
Who doesn’t like free gifts? Your customers will love it!
Use NFTs as giveaways to your customers to create loyalty and a delightful customer experience.
This can be done to attract new customers or to retain your loyal customers.
#7 Increased Visibility
Minting an NFT is like putting your business on the map of the marketplace. When you register a mint, it's registered with blockchain and becomes publicly visible for all to see!
There’s a big possibility to reach new audiences!
New outreach, new revenue stream!
There’s no denying that this new technology has some incredible benefits which will not only help creators but businesses!
And there we have it! We hope that after this four-part series of NFT education, you now know the benefits and how to use these exciting new tools for your business.
In meantime, join our Telegram community for news, giveaways, insights from experts about this revolutionary new virtual world as it evolves before your eyes, and more exciting activities to be announced in Telegram.
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Disclaimer: The information provided in this article is not investment advice – it is provided for educational purposes only. By using this, you agree that the information does not constitute any investment or financial instructions. Do conduct your own research and reach out to financial advisors before making any investment decisions.