NFTs, or non-fungible tokens, have sparked a revolution in the ownership and exchange of unique digital assets. This innovation has birthed a burgeoning market where creators and collectors can engage in buying, selling, and trading. However, traditional NFTs, often referred to as “collectible NFTs,” are heavily influenced by market conditions, leading to volatility in values and, more importantly, volatility in interest.
In response, we propose the concept of “utility NFTs,” which offer a more practical and versatile approach. Unlike collectible NFTs, utility NFTs are issued and managed by enterprises or organizations for their customers and users, serving as a means of interaction. In this article, the first of a series showcasing Aergo’s future strategies and initiatives, we’ll unveil our roadmap for the rest of the year, packed with some significant updates.
Collectible vs Functional
Initially, many collectible NFTs primarily revolved around speculative trading. Although they can be widely accepted and utilized in dynamic sectors including gaming, the liquidity dynamics within NFT marketplaces tend to align with market conditions, posing challenges for enterprises seeking to integrate them directly into their services or products. Moreover, collectible NFTs are commonly associated with artistic and creative endeavors such as visual art, music, theater, and literature, further complicating efforts to sustain long-term value.
In contrast, utility NFTs position themselves with a real-world business component. The most distinguishable use case is probably in identification, where uniquely issued tokens offer a secure and reliable means of verifying individuals’ identities. They serve as a digital representation of one’s identity for premium membership and a gateway for accessing exclusive content, including the metaverse and other Web3 platforms.
Why Aergo Focuses on the Segment?
It is important to lure individual users through a user-friendly environment and B2C marketing for the organic growth of a platform. However, we have shifted our focus more towards the enterprise side of the market.
Enterprise-led NFT segment offers a unique opportunity as it automatically brings in loyal users and fosters a strong foundation for long-term collaboration and mutual growth. Additionally, enterprise involvement often lends credibility and stability to the NFT ecosystem.
One example of Aergo’s enterprise-led NFT initiative is Samsung Members regional NFT in Southeast Asia & Oceania. Samsung Members NFT serves as a key enabling holders to unlock exclusive experiences and rewards with Samsung. Samsung leverages NFTs as a gateway to its imaginary universe, the Kaleidoscope.
The number total count of unique digital assets(NFTs) created is gradually increasing. The recent transaction spike on Feb 21st is also linked to this initiative. While specifics are under NDAs and cannot be disclosed yet, it’s evident that more enterprises, as well as government affiliates and agencies, are venturing into the NFT market. We will reveal more details for various projects as they progress, sharing insights into our ongoing initiatives and the exciting developments ahead
Despite challenging market conditions, Aergo has made significant strides in establishing itself within the enterprise blockchain market. With a focus on efficiency and enterprise-friendliness, Aergo, Blocko, and CCCV are expanding to establish more use cases in the enterprise-led NFT initiative through strategic partnerships driven by the increasing demand for innovation within this segment.
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