Innovative Use Digest #11: Getting Started with NFTs
As we exit the Closed Beta period of our NFT product and head into full open waters, let’s take a look at a few of the unique ways creators implemented NFTs. (Digest #10 is here with some tips for building a diverse set of roles with the Rally Discord Bot.)
For info on everything you can do with NFTs today, check out our wiki articles under NFTs on Rally.io.
First, Why Mint NFTs on Rally?
Thank you for asking. Everybody loves lists, so let’s give this a shot:
- 💰 Free minting and zero [gas] fees on all NFTs sales/transfers
- ⚡️Unlimited minting
- 🌱Low environmental impact
- 🔗Connected to a creator’s Coin
NFTs as Membership Badges
To reward everyone who held 1 $WAX, Wax Motif dropped 500 “WAX Gang OG Badges.”
Similarly, $JEFF dropped “Meteors over Joshua Tree” to all $JEFF coin holders.
There are multiple benefits here. Both $WAX and $JEFF coins had been minted some time ago, so these drops are rewards for the many supporters who have shown themselves to be long term holders/HODLers, thus these NFTs act as the first membership badges for these communities.
As of today, creators are able to create roles via the Rally Discord Bot for members who hold certain NFTs. A seasonal (ie, monthly or quarterly) NFT drop to HODLers combined with a Discord role and privileged access to info/content is a smart way to maintain short and long term interest, and for fans to show off and prove their loyalty.
NFTs for Awareness and Charity
NFTs allow for primary and secondary (i.e., any sales after the initial sale) royalties to the creator and any other partners you want to list. One great use case for this is selling NFTs for Charity!
Michael Christopher Brown ($SEA) is a world traveling photojournalist. As noted on his premiere NFT (seen below):
Photographs I captured in Afghanistan during 2009. 100% of the proceeds from the initial sale and all subsequent creator fee percentages will go to aid organizations operating on the ground inside Afghanistan, including Doctors Without Borders (MSF), International Rescue Committee (IRC) and Rescue.
Teaser: NFTs to drive utility
Coming soon the Rally API will support new use cases for NFTs where they can act as a membership card, be a ticket to your private event, unlock gated web access, and even be combined with other NFTs (yours and other creators!) to provide even more exclusive benefits and access. Join our new #rally-nfts channel on Discord to follow along as we share more.
