3 ways to leverage NFTs

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The digital asset industry has exploded in the past two years. But there is still a good dose of skepticism when it comes to cryptocurrency and non-fungible tokens (NFTs). NFTs have developed a stigma mainly because of the mundaneness of scams, carpet pulls and counterfeits.

While some may struggle to see the value of a digital image or similar items, others jump right in. 2021 saw NFT sales even eclipse $17 billion† These new digital investments have offered artists a whole new way to monetize their art. Not only that, but buying, selling and trading these tokens has made it quite a lucrative business for others as well. I speak from personal experience as we recently launched an NFT collection that sold 9,993 NFTs within 48 hours for approximately $4.8 million.

But as in any industry, where there is innovation, there is also room for those who take advantage of it for their own good. However, this should not come at the expense of the good that can be done with blockchain technology and NFTs. This new wave of innovation has introduced whole new ways to help change and improve countless lives around the world. Here are three perks for those unfamiliar with NFTs, and why they should get involved.

Ethical investing digitized

Ethical investing has become increasingly important in today’s world. People are more aware of where their money goes, what it supports and how it is used. This has encouraged companies to pioneer social goals and goals, such as zero carbon emissions and ethical sourcing of materials. Digital assets take this to the next level.

While there is no strict category for these types of digital assets, several notable projects have included charitable and social causes as part of their mission. One of those projects is my own NFT studio, Meta Brothers. We’ve made it our mission to donate a portion of our profits to Drop4Drop† Since its inception, the company has donated approximately $150,000 and, in partnership with Drop4Drop, is building 80 water wells in underdeveloped countries, changing the lives of approximately 80,000 people.

As CEO of Meta Brothers, I have made it my focus and priority to build a strong NFT brand that provides holders with both value and long-term benefits, while helping those who are less privileged. Prosperity should be something shared with everyone, and I see it as part of my commitment to give back and make the world a better place.

This isn’t the only project focusing on inclusion and philanthropy either. Krebelsa Koala NFT project, pledged to donate $50,000 to the International Fund for Animal Welfare (IFAW), as well as 5% of ongoing sales.

The Women stand up NFT is a collection of NFTs that celebrate strong women leaders through the ages and focus on encouraging diversity in the web3 space. The project also donated 2.5% of its revenue to the Malala Fund† This has shown that NFTs are a great way to apply product social engineering.

NFTs can be a life-changing investment opportunity

But blockchain technology doesn’t just change lives through social causes. Digital investments can also change an individual’s life through monetary means. Falling interest rates and inaccessible investment opportunities have encouraged the growth of digital assets such as NFTs.

Compared to savings accounts with dismal interest rates, the Web3 ecosystem offers significant potential with new NFT projects and decentralized financial applications. Not only that, but NFTs are quickly becoming the medium of choice for unique online artwork, music, videos and more.

A popular example of an NFT that is a great return on investment is the Bored Ape NFT† The cheapest NFT sold for about $70 in early 2021. Now NFTs from that same collection are worth up to $290,000. The CryptoKitties collection is another example, which sold for $3.24 in 2017 and was worth over $250 as of December 2021.

From another perspective, digital investment is something that everyone can participate in. They often do not require the same initial large sum of money that traditional investments require, and are open to most individuals regardless of where they live and what social class they are in. This has helped to create a level playing field and give access to a wide range of possibilities.

Even those who are not inclined to buy NFTs can still benefit from their growth. Cryptocurrencies are rapidly growing along with NFTs and have proven to be interesting investments in their own right. There is a lot that can be done with cryptocurrency, and buying NFTs is just one of those facets.

Using NFTs to build or expand your brand

Some of the biggest brands, from Nike to Gucci, have embraced NFTs as a new way to expand their brands. Celebrities such as Floyd Mayweather and Snoop Dogg have also introduced their own NFTs and worked alongside other projects. And while some may be doing this to “make a quick buck,” many see this as another opportunity to engage their customers and fans.

NFTs provide an interesting way to interact with fans. Not only do they provide a new medium for companies to reach their audiences, but they also provide NFT holders with a way to gain advantage and profit.

But you don’t have to be a celebrity or a big brand to create NFTs either. With the development of easy-to-use tools, anyone can create their own NFT or NFT collection. While the NFT creation process is simple, it is the marketing that can be difficult for individuals. Celebrities already have a large following to use, but smaller creators will have to work to market and generate noise around their NFTs.

Focus on engaging your audience through social media and apps like Discord. It is important to build a story and community around the project. People want to identify with and support causes that match their own experiences.

Try to build some usefulness or interesting aspects into the project. There are many NFTs to compete with, so distinguishing yourself is crucial. This is where things like donating to a social cause can really help.

Creating your own NFT collection is not an easy process, but it can be incredibly rewarding for both you and your followers. Invest in your audience because they are the ones who will invest in you and will ultimately decide whether the project will be a success or not.

Tamara Yannay is the CEO of Meta Brothers and House of Legends

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