Articles by THNGVERSE

Integrating Utility into NFTs could Revive the Market

Riding the waves of innovation and value trends, could utility in NFTs bolster the market?

With a growing interest in really understanding the Non-Fungible Tokens (NFTs) craze, creators are going to have to find new ways to integrate utility into their NFTs to stand out and attract new buyers.

NFT marketplace @NFTz has enabled great advancements in this space with customizable NFT zones automatically created for every user, social NFT zones to connect with others interested in the same hobbies or interests as you, and file attachments for NFTs where you can securely transfer audio, video, PDF, or other files and text to an NFT purchaser.

Creators like @WhaleSharkETH are taking their audience and capitalizing through NFT utility by selling them as ads, which the purchaser can redeem for a post on @WhaleSharkETH's feed.

Creators are now able to digitize their products and market them in minutes. Content can be made available by either leaving it out there for all to see in hopes of volunteer payment or by locking part of the story or additional files behind an NFT paywall.

Previous obstacles of chains like Etherium have been things like high transaction fees (gas fees), slow processing times, and file size restrictions. DeSo gets around all of those and more with virtually free transaction fees for posting, minting NFTs, buying and selling NFTs or creator coins, etc.

Another common use case for NFT utility is consulting or interviews, allowing creators and consultants to sell limited quantities of their time, where they set the terms of what is being offered and when.

The benefits of NFTs are many and growing as innovators find new ways to blur the lines between value and art.

  • Each utility NFT is unique and cannot be duplicated

  • They are digital, so you do not have to bother about losing them

  • You can verify the authenticity on-chain to ensure originality

  • Only the owner can claim it with their secure wallet

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