Do NFTs have a future?

Zoë Roth’s NFT sold for BRL 2.7 million (Image: DAVE ROTH/Internet Reproduction)

The acronym NFT is no longer an unknown. The Non-Fungible Token (or non-fungible Token) is becoming more and more popular, mainly because of its relationship with the art world.

Historic moments on the internet, like the first tweet posted, the video of Charlie biting my finger, or the photo of the girl Zoe Rose smiling in front of a fire, have moved millions of dollars.

But technology can go beyond memes, digital artwork and celebrity relationships. This is what a lot of people are betting on.

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Technology can give you more security

Just as you can use technology to sell art, you can also use it in many other ways. Seven months ago, Thiago Valadares and his partner Lucas Tavares created NFMarket Agency, the first agency in Brazil dedicated to NFTs. It explains what technology means in a simple way.

“It’s a digital registry where you can upload and store documents of any kind with blockchain security. From worksheets to college degrees,” he said.

Maximum security is that when you convert a file to an NFT and upload it to the platform, a key is generated that only you can access. For example, cryptocurrency wallets such as Bitcoin use the same system.

Fan tokens are football clubs’ new fundraising weapon

In addition to this, several sports leagues and football clubs around the world have recently discovered the revenue potential of this market. The traditional North American basketball league, the NBA, has launched irreplaceable products for fans and raised millions of dollars.

The most traditional football teams in the world, such as Barcelona, ​​Paris Saint-Germain and Manchester United, have also launched products targeting this segment. In Brazil, the most successful cases are Atlético Mineiro and Corinthians.

The São Paulo team launched $SCCP on September 1st for its 111th birthday. The club sold 850,000 units of the currency in just two hours, generating approximately 8.5 million reais in revenue. Although the value left by the club was not disclosed, it is estimated that Corinthians retained 50% of the value.

Those who make a successful purchase can vote for striker Ronaldo Fenomeno in a ballot as the next athlete to enter the club’s Hall of Fame. Each coin was sold for 10.50 reais on September 2. According to the Coin Market Cap website, at 4:42 pm this Thursday (28), the token was trading at BRL 7.39. Thiago believes it will also be a way for fans to help the club.

“It’s a generational thing, and it’s normal for young people today to buy digital files. My son is 14 and has several items in the game,” Thiago said.

NFTs as marketing tools

Although some $250 billion has been moved around the world, this market is still very new in Brazil. Thiago explained that he needed to break some of his skepticism about big companies and convince him that investing in NFTs made sense.

“There are still a lot of questions on operational issues, but I believe that in a few years, every marketing plan will have to think about NFTs the same way they think about social networks at the moment,” he said.

Virtual becomes reality

For many, owning a virtual piece of art may still not make much sense, but what if it becomes something tangible and transformative? One initiative of NFMarket is NFT Amazônia.

Anyone who purchases one of the available pieces depicting the trees, animals and legends of the region will have a real tree planted in the Amazon rainforest and can track each tree through Google Maps.

One of the artists who created works for the initiative is Lito. He explained that art and technology have always coexisted in his work, and it makes sense to combine this with social and environmental responsibility.

“Technology can add color to art and give it a little more depth. When they got in touch with me with an idea for reforestation, I thought it was really cool, and art needs to have that context,” he said.

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