NFTs are here to stay. I'm calling it now and you can come back to this post in a year or so. I do not know what form they are going to take or what the value of them will be but there is no way NFTs will go away. The reason is people want to own their digital goods. Maybe it is art or game assets or literally anything that you can house online, but whatever it is it makes no sense to buy something online without it being an NFT that you can have control of.
Right now NFTs are everywhere and the ones you can stake are the ones that I am looking for at the moment to invest in. There are new projects popping up everyday and its getting crazy. There is a lot of money being thrown around and I have no idea if any of them will have value in the future.
This brings me to the point of this post. If you want to make NFTs PLEASE have them do something. There is an exemption for artists as the work itself has value. But if you are a new project with NFTs please give them value outside of looking pretty.
But What Can A NFT Do?
Literally 100s of things. They can be assets for a game, assets for games as they can work in multiple dapps, they can be staked, they can be membership passes, they can give you mining bonuses, they can give you discounts if you hold them, they can pay you dividends for the site they use. The best part is they can do ALL these things at once and dozens more. There is no limit and each thing you add brings more long term value to the holder. You can even partner with different projects and the NFTS can work on their site.
Gaming NFTs
This one is the most obvious. If you can use your NFT in a game, even as a skin or some form of aesthetic, there is value for that NFT as long as people are playing that game. I know it sounds funny but in-game assets have value to players and being able to own them and use or trade them gives them more woth than just sitting on a virtual self.
Staking And Dividends
This is a big thing I'm looking for with NFTs. Can I stake it and earn from the platform? If I can and the site has potential of a lot of users this is a good way to own a piece of art that also pays you to sit there.
Memberships and Perks
You want early access to this DLC? The ones who have the NFTs can get them. People pay for subscriptions like Netflix for the benefits that it gets them. Holding an NFT can, it itself, be the membership for a site where you can access all the features. This means you can just hold it to use the site or turn around and sell that anytime you want and make a profit.
Besides artists having control of there work, the ability to attach value to NFTS is a huge step forward in the digital space. If you are working on a new project consider all the value you can attach to your NFTs as it will not only benefit your project but those who choose to invest in it. This can be a way for your project to stand out and give it more longevitiy if you keep releasing new benefits for the nfts.
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Not everyone might have the strings to pull off a game with NFTs especially those who are only good with creating art but the least anyone can do is make the NFTs have some sort of membership perks honestly. It’s the best way to make these things make some sense
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It takes a lot of dev work to really get a game out there but a partnership might be possible to use your assets in someone else's title.
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NFTs can have beside an artistic form and a more tangible representation a great utility and be programmed to facilitate access to different events, members and also to be triggered at a specific moment in time or so. They have endless possibilities and this where the fun is, but also the risk. I see NFTs still in the process of finding their identity, but nevertheless their use cases will gamify the entire world!
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For sure it is still early and time will tell what NFTs will look like in the years to come.
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I'm just now really thinking of selling my NBA topshot nfts because they don't do anything. My thought was that collectibles would be a great use case for NFTs but even with NBA money and marketing the topshots are losing value at a time when people are going nuts for any nft. I feel like at this point the best use case is in game utility. The future will create new and even better use cases but as you say, they need to do something.
I feel like there will be a backlash against NFTs because of the current craze.
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I think they are adding a type game but yeah they have really gone quiet with all the other NFTs exploding.
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