NFT — is an electronic certificate with ownership, that was initially implemented on a digital object. For example, a virtual picture. But after the real boom in 2021, many companies and brands realized that the possibilities of NFT tokens are much greater. And one of the options for their use is materialization.
That is, it is not just a digital copy, as was the case with Gucci bags, but a completely material object. To illustrate, let’s look at a couple of examples.
Examples of materialization of NFT tokens
Scenario 1:
Invites are the first impression of any event!
Invitations as NFT to a private party. Instead of ordinary paper ones or some super-exclusive ones (as was the case with invitations from Balenciaga engraved on the iPhone 6), a phone with a copy of the purchased NFT is enough. That is, the invitees bought not just a beautiful NFT picture, but also an offline entrance to the party.
Scenario 2
The car manufacturer ties each car to a non-fungible token. Behind the picture on the Internet is a real car. And the buyer gets the real item if they redeem the token after purchase. Currently, the purchased NFT may sit in the crypto wallet of a customer, but the automobile is still with the manufacturer. But it’s already been bought.
Or an option when the buyer requests an item tied to a token. The same car is delivered to a customer at the specified location. And it has an NFT attached to it. In this case, it is not just a picture that exists only in the blockchain but a very real purchase of a physical item.
An added benefit for brands is the extra profit they make when NFTs are being resold. From each transaction, the issuer receives a royalty. So, the car manufacturer will receive money even from a used car when reselling through NFT.
What are the prospects for the materialization of tokens?
The use of this technology opens huge opportunities for companies and brands.
● Market expansion. Your buyers are everyone who has access to NFT marketplaces. There will be no territorial restrictions like different cities, regions, or countries.
● Increase in the audience. Since the materialization of NFT is a new direction, there will be many people who want to try it. And in general, this is an additional channel for attracting potential buyers, and an opportunity to expand the sales funnel.
● Ease of the transaction. No intermediaries and additional commissions for someone else selling / advertising a product. All NFT purchase transactions take place directly between the seller and the buyer.
● No fakes. Blockchain technology and smart contracts applied to tokens do not provide opportunities for data falsification. This is one of the most reliable ways to “encrypt” ownership.
If you think that the NFT wave will pass, then this is far from the truth. More and more brands are adopting tokens to interact with the audience, be heard, and be in the news from around the world.
Materialization by Cifris
Cifris was one of the first to introduce this innovation at a high technological level. Customers get huge benefits and outperform competitors who doubt new technologies. This is an opportunity to introduce innovative technologies, increase the number of customers from all over the world, increase the value of the product itself, and get additional profit.
An additional plus is its own NFT marketplace. Clients do not need to think about how to digitize a material object, and how and where to sell it. All these functions are taken over by the Cifris team.
Go to the marketplace and evaluate the opportunities of the new market.
