Why does a traditional business need an NFT?

So far, the non-fungible token industry is still associated primarily with digital art and GameFi. In 2021, the hype surrounding the sale of NFT art has overshadowed the use of real assets in the real sector and the service sector. Today we will talk about how traditional businesses can use NFT technology to their advantage.

Certificate of Authenticity

NFT technology can be described as a blockchain-based certification system. But this can be applied not only in the virtual sphere, but also for marking real assets, as well as for tokenizing real services like digital tickets for concerts or subscriptions to clubs or anti-cafes.

For a business model to function, a system is needed that can secure ownership of the product or the right to use the service. In the physical world, these procedures happen all the time, but without excessive formalism, such as granting rights to use a cinema chair for one session.

In the digital realm, proof of ownership and therefore the establishment of a buying and selling process is more difficult. The nature of digital assets allows countless copies to be made. These copies are considered “replaceable”, i.e. identical; the original cannot be distinguished from the copy. Hence the value of non-fungible tokens; they allow you to establish ownership of digital assets and streamline the sale of unique goods and services. At the present time, even for traditional businesses, representation on various platforms is important, whether it be social networks, marketplaces or blogs, which is why the digitization of economic relations is so important.

Way to expand your audience

Blockchain enthusiasts hold a significant portion of their holdings in cryptocurrencies and NFTs. Moreover, this audience is not only looking for how to buy a valuable digital asset or how to spend cryptocurrency, but also understands that it is in their own interests to support any project that wants to realize itself in the NFT industry. The more companies start using NFT, the easier it will be to promote a favorable legal environment for the crypto market. This means that your NFTs will be bought not only for speculative or aesthetic reasons, but also to promote the industry as a whole, a kind of economic activism.

Some companies come up with unusual solutions in order to attract an audience with cryptocurrency. Since cryptocurrency is still not a legal means of payment in many jurisdictions, one has to go to tricks, such as placing coupons and certificates of various traditional trading networks to exchange for cryptocurrency on crypto-oriented marketplaces. In the end, creating your own NFTs can help increase your brand awareness among the crypto audience.

Airdrops

Cryptocurrency and NFT savvy fans are constantly looking for airdrops to get free assets.

Often, blockchain companies use cryptocurrency and NFT giveaways to reward their community for active participation. Essentially, an airdrop is a transaction in which a company sends tokens from its portfolio to a portfolio of users.

But who said that traditional businesses cannot use the same tool. Moreover, such NFTs can be made unique and exclusive if we are just talking about digital art.

NFT airdrops can also be used for more traditional businesses. For example, you are the owner of a club or an anti-cafe. You can reward your users for regular visits, for winning competitions and tournaments, or simply as a regular bonus. Such an NFT can be a monthly club membership, for example.

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