nft utility | Blue Manakin

June 30, 2022

Shopify is going to allow adding utility to NFTs

Shopify is leaning toward NFTs as the future of e-commerce so it announced last Wednesday that it is going to allow brands to make their stores more unique with these non-fungible tokens. Shopify is a company that allows you to create smaller business’s custom e-commerce stores and is now allowing you to launch these digital marketplaces with NFTs as a new feature. In a video made by the brand for this new functionality they comment as follows: “Invite your community into a world that recognizes and rewards loyalty, token owners connect a cryptocurrency wallet to unlock exclusive shopping experiences, from early access to drops and limited collections to unique experiences and other surprises.” This Shopify store is currently in beta and will be known as “gm”. As such only those with existing NFT collections can apply for early access. For the time being Shopify has partnered with NFT collections to create tokenized stores: Adam Bomb Squad Doodles World of Women Invisible Friends Superplastic Stapleverse Cool Cats In addition, Shopify will add a similar system for its physical stores, this system will be known as “IRL” with which only NFT owners can purchase certain products at that physical location. Why is this important? The implementation of Web3 in the future of stores goes through exclusivity. And it gives more value to NFTs, giving a new perspective to people who see NFTs as digital art or “jpg” when they are the owner of an asset which gives rise to being used as membership passes, event tickets, and “keys” that unlock perks. Shopify was already into the world of NFTs as last year it announced the launch of selling NFTs through its platform. However, it’s good to see companies continuing to step up and look for new ways to implement NFTs and Web3 into their services.

How NFTs have evolved in 2023?

NFTs: From Hype Trading Cards to Practical Use Cases Non-fungible tokens (NFTs) have come a long way from being mere hype trading cards. As the concept evolves, they have gone on to capture mass attention, turning into more solid use cases. These tokens are unique digital assets that can take any form and represent distinct ownership. They are fast gaining popularity in various sectors, from real estate to gaming, tourism, and even cultural heritage preservation. NFTs are now being used to represent educational degrees or professional certifications, enabling secure and verifiable proof of credentials. Real Estate Investors Turn to Fractionalized Market with NFTs In the real estate sector, investors are seeking to diversify their investment options, and since housing prices are so high, they have found that opting to buy just a chunk of real estate can be a logical solution. The appetite for fractionalized real estate market has grown, with investors hungry to diversify their investment options. NFT Gaming and the Transition from Web2 to Web3 NFT gaming is also growing popular, with NFT marketplaces having already seen over $700 million in daily volume. Companies like Sony, Polygon, and Yuga Labs are making significant bets on NFT gaming. The convergence of NFTs, gaming, and sports fandoms represent a critical inflection point for the transition from Web2 to Web3. By enabling digital ownership, the sector can realize the potential for game interoperability and monetization, taking utility and composability to the next level. Indonesia’s Ministry of Tourism and Cultural Heritage Preservation with NFTs Indonesia’s ministry of tourism is also using NFTs to maintain records of its heritage, and in the process, boosting virtual tourism. Web3 platform Quantum Temple is working closely with the Southeast Asian country to tokenize both tangible and intangible forms of its cultural heritage. Starbucks Launches NFT Collection, The Australian Open Goes Metaverse In the experiences sector, Starbucks recently launched its first collection of NFTs called “Journey Stamps.” The cafe chain sold 2,000 NFTs for $100 each in just 20 minutes of its release. The Australian Open was the first grand slam to enter the metaverse, minting the AO Art Ball NFTs linked to live data like match points on the blockchain. This project offered people around the world a unique chance to own a select piece of the AO experience, such as a specific moment during the tournament. Ticket Sales and Car Titles: NFTs in Other Sectors NFTs are also being used to tokenize ticket sales, with Ticketmaster opening access to event organizers to issue NFTs tied to tickets. The American ticket sales company allows partners to sell NFTs with tickets on the Flow blockchain. Metal band Avenged Sevenfold was the first to use Ticketmaster’s “token-gated sales” concept, meaning fans would have early access to concert tickets and other special events using NFTs. Finally, California’s Department of Motor Vehicles is piloting a program that uses NFTs to tokenize car titles, making them easier to transfer and exchange. As the mainstream infatuation and hype surrounding NFTs subsides, the professionals remain. It is clear that NFTs are being utilized by professionals across a plethora of fields with several noteworthy use cases. As they continue to gain momentum and popularity, it is clear that they have a wide range of practical applications in various sectors, making them an essential element of Web3.

Amazon to Launch NFT Marketplace Next Month, Offering Digital Collectibles Tied to Real-World Assets

NFTs Tied to Real-World Assets Amazon is reportedly launching an NFT (non-fungible token) marketplace on April 24th, which is seen as a significant move in the crypto space. The platform will allow customers to purchase NFTs tied to real-world assets without the need for crypto wallets. The launch will feature 15 NFT collections, which will be available on Amazon’s website and can be seen by clicking the “Amazon Digital Marketplace” tab. The company will alert US Amazon Prime customers of the digital collectibles plan once it goes live. Amazon as a Trusted Intermediary This move is significant for two reasons, according to Christopher Alexander, chief communications officer for Liberty Blockchain. Firstly, Amazon is a well-known and trusted brand with over 200 million Prime members, which can serve as a trusted intermediary for customers experiencing Web3 for the first time. Secondly, Amazon’s entry into NFTs brings significant lobbying heft to a crypto industry fighting on multiple fronts. Momentum for Non-Crypto Firms to Experiment with NFTs The NFT market has taken a beating since the collapse of TerraUSD/Luna in May 2022 and the FTX debacle, but it seems to be rebounding. DappRadar noted in its February industry report that NFT trading volume spiked to $2 billion for the first time since last May, up 117% from the previous month, largely driven by Blur, the zero-fee marketplace launched last October. Room for Competition in the Nascent NFT Space Amazon’s NFT marketplace will likely differ markedly from what OpenSea has on offer, according to Anthony Georgiades, co-founder of Pastel Network. Amazon may try to incorporate NFT tech into their current business operations, perhaps tying them to the sale of physical goods. It’s still too early to tell what is planned, but it is exciting to see a Web2 giant dipping its toes into the crypto world. Amazon’s Distribution Network as an Advantage in NFT Marketplace Although it remains to be seen whether Amazon’s NFT marketplace will compete with OpenSea, they could co-exist, according to Mo Shaikh, co-founder and CEO of Aptos Labs. What may work in Amazon’s favor is the retail giant’s distribution network, which experts suggest could provide real utility for NFTs, something other marketplaces and infrastructure can’t handle. The launch of Amazon’s NFT marketplace is expected to help familiarize the company’s vast customer base with Web3 technology, which could drive further adoption of NFTs and crypto more broadly.

Are NFTs the same as bitcoin?

At the outset, the main difference we can highlight is that cryptocurrencies are fungible and NFTs are not fungible, which means that NFTs cannot be replaced by others. NFTs are unique digital assets backed and verified on the blockchain, while cryptocurrencies are decentralized digital currencies with transactions recorded on the blockchain. The most common and important cryptocurrency is Bitcoin, which has been the first widely adopted digital currency originated that did not depend on a central regime. Bitcoin is constantly comparable to gold, as investors see it as a “hedge against inflation”. The cost of gold furthermore stems from what is in essence a social creation: like Bitcoin, gold has a cost as we all agree that it does. The supply of Bitcoin is set at 21 million, which means that, unlike the dollar, there can never be much more than 21 million Bitcoins. This reduced supply causes Bitcoin to be incredibly small. Despite this Bitcoin is still a new technology and asset class, certain investors argue that this volatility is expected and generally invest with a long-term view. As the most funded decentralized currency that operates without the backing of a regime, it gives Bitcoin impressive utility. This increases its use in addition that smart contract functionalities now can encode on the Bitcoin network. The dispute over gold and Bitcoin predominates as an illustrative exemplification of the primary differences between NFTs and cryptocurrency. NFTs are the opposite: NFT stands for “non-fungible token,” which implies that each NFT cannot be modified, supplanted, exchanged, or swapped into smaller pieces, so its value is an integer and unique. Do NFTs have cryptocurrencies? NFTs are mainly purchased with cryptocurrencies, especially Ethereum since this network is where these assets were born. This is a common way for NFT projects to raise additional capital while giving investors a way to indirectly invest in NFTs. Some NFT collections, such as Bored Ape Yacht Club, have made their cryptocurrency called APE coin. Are NFTs better than cryptocurrencies? There isn’t a characteristic of one or the other to compare them in this way, as in the end they are both decentralized digital assets that sit on a blockchain network. So there is no reason to invest in NFTs before cryptocurrencies because they are not comparable. Investors constantly consider the two to be different asset classes because they have different purposes. Do you need cryptocurrencies to buy NFT? The simplest way to mine an NFT is to generate your cryptocurrency wallet. By using this Ethereum or Solana and logging into an NFT platform such as OpenSea or Rarible we can get our hands on NFTs.

NFT Roadmap Creation

The expansion that the NFT market has had in recent years has favored its diversification into almost infinite business models. Each successful NFT project is characterized by the publication of a roadmap, a document that describes the phases and relative development times of an NFT project, starting from its launch. The roadmap of an NFT project has great strategic importance. It not only defines the strategic path of an NFT launch, but also the possible uses and the business model and phases of its life cycle. Contact us! Consultancy Dedicated to NFT Roadmaps The Blue Manakin team offers a consultancy service of the highest level. We are specialized in writing successful roadmaps. Our vast experience and the unique skills of our team allow us to make each roadmap suitable for the target audience, in line with market expectations. Trust Blue Manakin and make your roadmap unforgettable. See more NFT Roadmap – Design Design, especially in the NFT world, is an element that does not go unnoticed. Our team of designers are experts in creating roadmaps that are attractive to any user or investor. We develop ad hoc graphic solutions for each project, in any graphic and multimedia format. See more NFT Roadmap – Communication and Content The use of a captivating and innovative narrative style is necessary to stand out from the competition. Our team of consultants will develop a unique editorial style in line with the project, developing a storytelling capable of attracting and involving the reference community. See more NFT Roadmap – Community Community involvement is critical during every stage of an NFT’s life cycle. Constant distribution of engaging content is essential to maintain community and investor hype; our roadmaps are perfect for this purpose. See more NFT Roadmap – Utility For Blue Manakin a roadmap is not just a design element, it is a valuable document and a business card with which the project is presented. Develop an attractive, unique and functional roadmap with our team and show investors how much your project is worth. See more NFT Roadmap – Projections and Commitments Maintaining the commitments made to the community is a pivotal point for investors, who can decide to abandon the project if the actions taken are not in line with what is stated in the roadmap. Our team of consultants dedicated to creating roadmaps for NFT will help you define what results your project can achieve and what promises to make to the community. See more

Are NFTs the same as bitcoin?

Valuation of NFT’s

As we taste, in the crypto world there are two types of tokens: fungible and non-fungible. Fungibles are those that function as money, a peso is always a peso invariably from the conditions of the coin. A peso coin can be replaced by any other peso coin. On the other hand, non-fungible tokens are unique and cannot be replaced by any other token. NFT’s can be used to represent unique digital assets, and are interesting because their uniqueness and ownership can be verified, they can be used in different applications, and they can also be easily exchanged in various markets. Depending on the asset the NFT represents, its value comprises four different components: utility, ownership history, future value, and liquidity. These components can be used by investors to assess whether the NFT is worth investing in, and by creators of NFTs to attract users and investors. The key is that NFTs create many new ways for value creation for creators and asset owners. Below, we break down the four components and discuss what gives value to each: UTILITY: Utility value depends on how the NFT can be used. Two major categories that have high utility value are gaming assets and tickets. For example, a rare and valuable Crypto Space Commander warship sold for $45,250 in 2019, and the value of an NFT ticket is the price of that same ticket. Another dimension of this same utility is being able to use this NFT in an application other than the one in which it was purchased. If you could use that same warship in another game, the value would go up exponentially. OWNERSHIP HISTORY: The value, in this case, depends on the identity of the seller and the previous owners of the NFT. NFT’S with the highest ownership history value is usually created by famous artists or companies with a large presence. Based on this, we can realize that there are two ways to give more value to our NFT: the first is to cooperate with influential companies or individuals to promote these tokens, and the second is to sell NFT’S that have been previously owned by equally influential people. FUTURE VALUE: The future value of an NFT is derived from speculative valuation changes and future cash flow. Valuation is driven by speculation and can often be the key to high value. One could argue that speculation is bad for NFT’S, but it is human nature and a fundamental part of the current financial system. LIQUIDITY: Higher liquidity means higher NFT value. Liquidity is the main reason why tokens created on-chain have a higher value than those not.

How to strengthen the long-term growth of our NFT launch?

As NFTs evolved from being a good way to make a quick buck based on simple speculation with image files, to a complex market with thousands of possibilities and long-term applications. The relevance of NFTs has become clear; and the evolution of these cryptographic assets left behind the euphoria for NFT projects based on collections without major projection, and established in this sector, the need for transcendence. Currently, the launch of a new NFT project must be defined by its ability to be relevant in the long term, the big question is how do we achieve this? As the NFT sector has advanced over the last two years, the offerings of those projects that have not gone down in history as simple collections with nothing more to offer, have nourished their projects with ingenious and effective tools that provide essential fuel to ensure their constant traction. Gradually those NFT projects have added metaverse utilities, P2E qualities, or real-world applications to their offerings. In addition to the collapse of Luna/Terra,which impacted trading volume and investor credibility in blockchain developments; not just cryptocurrencies but even NFT, and devolved into the current state of a slowdown in NFT marketing.One of the big hurdles that the NFT market currently faces is its scalability, and the drop in interest from communities once an NFT collection reached a maximum threshold. Many NFT collections that in 2021 were highly successful during their mintage, saw little time before moving into obsolescence and having no projection of permanence in secondary markets. These two elements make rather more evident a need that gradually the NFT expert communities have expressed. What reasons do we have to follow an NFT collection after its launch? However, some NFT projects have shown their durability over time and despite events such as the recent downturn in the cryptocurrency market. All of them have demonstrated in addition to their permanence, significant growth and higher share price even despite the dramatic fluctuations so common in the market. All these projects have some qualities in common, such as a solid and complex vision of the project, hooked to a visionary and ambitious Roadmap, and in many cases, a real utility, applicable in different areas of daily activities. A notable example of how to generate long-term relevance in the launch of an NFT collection is “Silks”, an NFT project associated with horse racing in the metaverse, with a game model that takes as its foundation the thoroughbred horse industry, starting from the breeding and trade of these animals, to their preparation for million-dollar races. It is a NFT project that combines video games with the thoroughbred horse industry, applied through the blockchain. Thanks to this, Silks is one of the most coveted NFT collections of recent times. Another of the qualities that make Silks a highly successful multifaceted project is that regardless of the cost of each NFT piece, there is the possibility of fractional ownership and syndication of horses. This gives the platform the ability to offer access to all kinds of users. It is clear that nowadays the launch of a new NFT collection must be a dynamic project and endowed with a structural proposal rich in levels and directions, which can facilitate the ability of a user to become loyal and preserve its relevance over time.

NFT tickets as a new trend in NFT Marketing

The NFT market is a sector of constant growth and diversification. As previously we have commented about the main NFT formats, NFT tickets are shaping up to be one of the main applications of this blockchain-based technological utility.

Intellectual property as a great quality in NFT Marketing

Regardless of whether it's collectible art, Play to earn games, or the industry where you want to associate, NFTs have qualities so diverse and little explored, that the strategies of NFT marketing tend to be very diverse. Intellectual property is one of the applications in NFTs with the greatest potential in terms of marketing.

NFT Marketing Agency Honduras

NFTs in Honduras The reach that NFTs have in modern life goes far beyond NFT art. However, it is the first approach to the public that is still unaware of this new technological trend. The NFT represent a new market in the world, with great power and capacity for growth in the long and medium term, the diversity of NFT that currently exists and its applications in real life allow us to foresee that the NFT in Latin America will be an important utility for the development of these countries. Contact us! Launch of an NFT collection in Honduras The launch of an NFT collection in Honduras has several opportunities for development and growth, not only for NFT art, but for different utilitarian NFTs that already exist in the blockchain universe. Developments such as decentralized applications, or the integration of NFTs into the marketing strategies of different brands,and even their application in sectors such as commerce, which let us know thatNFTs are much more than just a fad. Contact us! NFT marketing in Honduras The growth of blockchain technology and the NFT sector means that launching an NFT collection in Honduras, requiera del acompañamiento de especialistas en NFT marketing development.From the creation of a collection, its listing on different sites and platforms, to the operation of social networks and platforms such as discord specialized in NFT. We are Blue Manakin, an Latin American nft marketing agency with experience in launching, creating and promoting nft collections in different projects around the world. Contact us!

NFT Marketing Agency Colombia

NFTs in Colombia The expansion of the NFT market in Colombia projects great growth potential. As in all of LATAM, NFTs are a blockchain technology utility with enormous benefits and real-world applications. Colombia is a country with special interest in decentralized finance, blockchain and crypto art,in this country the knowledge about Non Fungible Tokens is quite broader than in the rest of Latin America. Contact us! Launch of an NFT collection in Colombia At Colombia, the transition of traditional artists to crypto art,opens a new market with great potential, that is why the launch and promotion of a NFT collection in Colombia,has particular growth opportunities. The launch of a new NFT collection requiere mucho más que la producción a nivel artístico de las piezas NFT, también es fundamental el diseño conceptual de una colección NFT, y la creación y desarrollo de una estrategia de desarrollo y marketing eficaz. Contact us! Marketing for NFT in Colombia At Blue Manakin, we are a team with extensive experience in creating positioning strategies for the promotion of NFT in Latam.From the conceptual design, the creation of a roadmap, production, to the participation of an NFT collection in different NFT galleries. We know the value of a robust NFT work, and our mission is to trace the most efficient route for an NFT collection to reach its target audience and obtain its projections. Contact us!

elementos importantes para valuar un nft

How is an NFT assessed?

The creation and launch of an NFT collection requires knowledge of the elements that make a non-fungible token valuable. Beyond being a digital art collection, there are different factors that are important to know in order to determine the value of an NFT.

How is the sports industry taking advantage of NFTs?

One of the most enthusiastic audiences in the world has always been sports in any of its branches, for many years the digital manifestation of sports such as Basketball or Soccer has been very successful in video game consoles, and all kinds of products related digital. Currently blockchain technology has been particularly explored to be exploited by the sports industry with the integration of NFT.

Benefits of Discord for my NFT-Marketing strategy in Latam

What advantages does Discord offer for my NFT Marketing strategy?

What is a smart contract for NFT?

Smart contracts are one of the most powerful features of blockchain technology. A smart contract is a digital contract in which the terms of the agreement between users are established in code. A smart contract can be scheduled to auto-execute when a set of predefined conditions are met. Smart contracts exist on decentralized and distributed blockchain networks.

Most popular NFT apps

The world's interest in Non-Fungible Tokens is becoming more and more widespread. Collectibles and NFT Art pieces are the categories that have attracted the most popularity initially, and of which the public knows more, however with the accelerated evolution of blockchain technology, their applications have diversified and specialized more and more in different types of NFT. These are the most popular NFT categories.

Why are NFTs an excellent opportunity for brands?

The expansion of the utilities and applications of the different Tokens is without a doubt a source of opportunities in all directions. Particularly NFTs currently represent a great opportunity for different types of brands and companies.

6 things to evaluate before buying an NFT

The importance that NFTs have gained in the world and gradually in more and more industries is already known. Especially during the last few months, which NFTs have shown to have the ability to apply in various aspects of real life.

Upgradable NFTs. The future of NFTs?

As happened more than thirty years ago, when Pop Art broke in with Andy Warhol as the main standard-bearer, his work consisted largely of the intervention of photographs, especially advertising. Like the iconic Marilyn Monroe photo, where all credit for the stir it caused was attributed to Warhol, regardless of the original photograph being taken by an artist whose credit is zero. The example is mythical, but like this one, there are thousands. Returning to the present, in the context of NFTs this could be one of the solutions to come.