How will practical NFTs drive mainstream Web3 adoption?

this NFT is probably hype cycle Most Publicly Interested, Celebrities From justin bieber arrive Madonna For the past few years, they have been launching NFT collections to their fans.

NFT currency

Without knowing the potential benefits of NFTs powered by the underlying blockchain technology, the average person might dismiss them as mere “million dollar JPEGs.”

“Misunderstanding of NFTs is a major barrier to mainstream Web3 adoption.”

Utility NFTs aim to provide tangible utility to owners through rewards and other perks, and in fact, it could be the key to widespread adoption. Web3. By offering real-world benefits, it could convince non-cryptocurrency users to try breaking into Web3 territory.

Here are six NFT use cases, all of which show the benefits utility NFTs can bring to owners while also protecting the space from future hype cycles, creating a stronger Web3 that drives wider usage.

1. NFT Membership

Imagine the exclusivity of Soho House, but instead of becoming members through referrals and direct debits, people gain access by purchasing Soho House NFTs.

Companies like Mandala Club have started to tap into the potential of NFT members, selling them for sky-high prices, up to S$15,000. Benefits offered through NFT membership include access to exclusive newsletters, Discord channels, interviews and events.

“NFT membership not only provides a simplified way to verify membership, but also supports peer-to-peer sales and transactions, helping to evaluate the value of a given member on demand through transactions and secondary sales.”

Examples in the crypto world include full of lions and the Boring Ape Yacht Club (BAIC). Loaded Lions offers members a VIP experience, giveaways, and priority access to curated NFT drops.

On the other hand, BAYC membership also grants the holder access to members-only areas, real-world events, and special merchandise.Like event organizers will now switch to Event site In order to sell tickets, NFT can be used as a carrier for selling members, as a means to bring more ordinary users into Web3.

2. Speed ​​up Phygital experience

In addition to ownership of virtual assets, the concept of “phygital” was created to connect physical goods and services to the digital world through the sale of NFTs. This happens when buyers receive items through NFT purchases.

“In addition to pure digital art, NFT is also used as a means Selling real estate in the real world

Another iteration of “phygital” offers buyers a digital version of the supermarket when purchasing an item. data. Enter Metaverse collection by Adidas shows how to do this in real time.

and 84% U.S. customer loyaltycompanies like Adidas can use their influence to attract customers to Web3 through NFT phygital services.

3. Metaverse brand

In addition to the appeal of NFT physical services, NFTs in Metaverse allow companies to create a new niche on the frontier of building and building. advertise Promote brand.

“With growing recognition and momentum, Metaverse offers companies a new world of real estate to consider for marketing efforts.”

big brands like nike and Gucci Transfer NFT collectibles to owners for digital versions of their products. As a result, users can wear their favorite brands in metadata through new digital expressions powered by virtual reality and augmented reality.

In turn, loyal customers may find themselves more likely to engage with Web3 because the supermarket is stocked with brands they already know and trust.

4. NFT in the field of blockchain games

NFTs allowed player Purchase in-game assets and features blockchainenabling them to effectively invest in the communities they are passionate about.

“Compared to traditional in-game purchases, NFTs allow assets to be transferred between games and are controlled by the owner, not the game.”

This extends the life and value of in-game assets, returning power to the player. The autonomy conferred by ownership of NFT assets provides the impetus for traditional gamers to switch to blockchain games, bringing an additional user pool to Web3.

5. NFT will “reshape” DeFi

Similar to the unique benefits that NFT can provide owners in membership settings, NFT’s unique irreplaceability can provide owners with specific positions and benefits.In the context of decentralized finance (DeFi)).

Currently, DeFi users often face periods of illiquidity when staking cryptocurrencies to earn rewards. However, NFTs provide an easy-to-trade alternative that eliminates the illiquidity problem of users having to lock up protocol tokens for a fixed amount of time.

In addition, DeFi protocols can also add game elements to provide users with benefits such as NFT staking support, exclusive whitelist access, and cost reduction. VVSGotchi does this by providing tangible utility to its line of VVS Miner Mole NFTs with experience points that can be used to earn higher rewards on staked NFTs.

“DeFi protocols can also determine the scarcity of their NFTs, matching value with demand.”

The examples given illustrate how NFTs can enrich the DeFi ecosystem with additional functionality while mitigating risks. volatility. In doing so, NFTs will help build a stronger DeFi landscape that is more attractive to new and existing users.

6. Gamification of healthcare and social media

Through the use of NFTs, gamification of traditional industries will empower users through greater data ownership and monetization opportunities.

For example, a person might log Their health history becomes an NFT and sell it to third parties who are interested in this data.Additionally, health-oriented monetization projects are starting to enter the fray, such as stephenallowing users to earn rewards for the number of steps they take each day.

“Using NFTs in conjunction with the healthcare industry could provide users with a groundbreaking new revenue stream as royalties are automatically credited to creators.”

Although the giant social media like instagram Efforts are underway to provide users with NFT services, launching features that allow users to mint and sell on existing platforms, and a new generation of decentralized social media has joined the game.

new items such as Deso and lens agreement Ready to provide users with a fully Web3-based social media experience, with features like creator coins, microfees, and zero-gas NFT minting.

Unique revenue streams from gamifying health and social media through NFTs offer users a way to monetize what they do for free.

what’s the result? Two identified large user bases may support the use of NFTs to become mainstream.

NFTs: Driving Mainstream Web3 Adoption Through Utility

Instead of relying on national value or fast transactions, NFTs can add more meaningful, longer-lasting value propositions to countless industries around the world.

“By considering the functionality provided by the underlying technology, everyday users can benefit from NFTs regardless of market volatility or asset price changes. Specific products.”

In doing so, the NFT will be a facilitator application Make Web3 mainstream by enabling, simplifying and integrating existing verticals rather than completely reinventing them.

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