Breaking down the uses of NFTs

Huertas, Carolina
June 2, 2022 – 8:29pm

(Image credit: Eduardo Lopes/Imagem Paulista)

The peculiarities of different uses of NFTs were discussed on the second day’s stage. ProXXIma. Livia Elektra, founder of EVE commented that this is a technology that has been around since mid-2015, but it is the way it connects to art and different types of contracts that has made the topic popular and interesting .

Caroline Nunes, CEO of InspireIP, said the company initially Partnered with blockchain and launched NFT platform last year. Even though it wasn’t launched for branded use, they started looking for tech companies to enter the universe.

The CEO warns that one of the biggest mistakes brands can make is to use technology only for novelty, regardless of longevity, community creation and connections to secondary markets. However, she said that brands that are now able to create experiences using NFTs and the metaverse have the potential to create digital collections and connect with customers in ways that were not possible in the past.

“There are some big brands that have already partnered with NFTs. We did one with SBT and it had a huge impact. I call it smart marketing: we don’t use any paid traffic, and this action spontaneously generated 10 million mines Yar’s media return,” he said.

Experts explain that the technology can be used in a number of ways. For example, she explained that if Lollapalloza linked its tickets to NFTs, it would make a bigger profit because more people would resell the tickets.

Art and NFTs

Livia said that despite the popularity of collectible models, she links her art to NFTs and scarcity strategies. She explained that as a photographer, she often struggled to find clients willing to pay 4,000 reais for a photo shoot. But now, her clients are all over the world, and a photo can cost as much as $22,000.

She also said that despite only working with technology for a year and four months, she had opportunities she never dreamed of, such as showing a photo of her in Times Square. “I see my art being valued in a way I’ve never seen in real life, and I think that’s why NFTs have grown so much,” he revealed.

Make technology easy

Experts also discussed the intricacies of NFTs. For them, brands and users initially didn’t understand because they were only interested in riding the waves, not researching and understanding the technology itself and its opportunities.

“NFTs already have a lot of difficult terms that some people think they’ll never understand because it’s a difficult term. I think if people take the time to read it, they’ll see how incredible it is and will want more Research in depth,” says Lívia.

Furthermore, Caroline commented thatThe higher the degree of decentralization, the worse the user experience, so inspired IP, Trying to come up with models that will help break down this barrier.

“We’re starting to build a marketplace where people can get NFTs by paying in real. If people want to withdraw it, they can, but they already have another level of understanding of the universe,” he noted.

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