The extension of cryptocurrencies into the art world seems almost obvious now it’s here. While some of us bought baseball cards, Pokemon, Pogs and all the other collectibles of our childhood, we now have the option to extend our collectibles into the digital world. Collectibles now have traceability with NFTs, enabling proven ownership, clear provenance and transparency via a public ledger of trades.
In our previous post, we looked at the astronomical growth of NFTs, represented by numbers like 1785% (Q1 2021 growth of NFT market cap), and 2% (the global market of NFTs as a subset of the traditional art trade). What has become clear is that NFTs don’t need to take market share away from the traditional art market to succeed. There is minimal current overlap between those who invest in fine art, and those who have adopted NFTs as collectibles. What NFTs have proven is that anybody can be a collector — creating not only a new market, but a new demographic for collectible art, with an exciting technological solution supporting it.
This new reality — that anyone can enjoy this new wave of collectibles — has brought us to a critical question. With so many of us buying collectibles for the first time, what do we do with them?
ZooDAO responds to the key question posed: what do we do with our collectibles? What next?
In short, ZooDAO enables owners of NFTs to stake those NFTs — without giving up ownership — and earn passive income. The concept is simple: your digital assets — NFTs — are more valuable with ZooDAO.
While it may not feel like it, we’re enjoying the benefits of being early adopters of this technology. The future use cases of NFTs are numerous; imagine traceable ownership over a patent, a plot of land, a vehicle, or your own data. But what if you could leverage that asset, by loaning it out, or applying it as collateral? This simple activity of leveraging an asset is backed by historical precedent, so why not apply it to the world of NFTs?
This is where ZooDAO is filling the gap, generating an exciting future use-case for NFTs. As we continue to grow our collections, we’re allowing NFT owners to leverage those assets, loan them out, apply them as collateral — all while earning passive income in return.
Stay tuned- we’re excited to share exactly how our tech works, and demonstrate that your NFTs are more valuable with ZooDAO.