Talking about how NFTs can bring both liquidity and value to previously intangible assets, the anonymous crypto analyst who goes by the pseudonym of Croissant called them the most significant catalysts for Ethereum since the creation of DeFi.
Going Ad-free Via Forbes Unlock Protocol
They discussed how users could now access the Unlock Protocol on the Forbes online magazine for an ad-free experience by simply connecting their account with an $ETH wallet holding the membership NFT.
The team at Forbes addressed this offering through a statement,
“Forbes is at the forefront of publications writing about crypto and blockchain and they're doing what too few "advocates" in that space are: experimenting with crypto-based solutions.”
Croissant also put forth their own personal experience in creating an NFT to unlock special access to their (unpublished) blog, where they can determine the price, supply, and what tokens to accept for the Unlock Protocol.
Hodlberg And Gamestop NFTs
They also talked about Jordan Holberg, creator of Hodlberg NFTs that aggregates all attested wallet balances into one token without compromising privacy. Croissant believes that since Gamestop is now attempting to bridge the gap between traditional commerce and blockchain, the latter’s integration of Hodlberg indicates good news regarding GameStop’s partnerships with Hasbro, Xbox, & many Esports teams.
Role Of NFTs In Gaming
Croissant also talked about how gaming is progressing from one milestone to the next thanks to the joint efforts of NFTs and actual players coming together to create powerful network effects of digital ownership. They cited the example of NBA star Spencer Dinwiddie, who tokenized his $34.4 million contract and created an NFT bond that he calls “Professional Athlete Investment Tokens.” This is a massive investment vehicle forming on $ETH.
Ethereum Name Service
Next, Croissant talks about Ethereum Name Service (ENS), which allows users to send any stream of value across the world in seconds, similar to sending an email. The ENS platform enables users to register, purchase, or sell individual domain rights to a given .eth name as an NFT. The ENS account also functions as a more straightforward wallet address as it accepts all tokens.
Cutting Out The Middleman
One of the biggest advantages posed by NFTs, which Croissant agrees with, is its elimination of intermediaries. The analyst believes that NFTs will be leading the charge in the user-owned Web 3.0 economy because of this particular use case. By sidestepping tech giants and large corporations in the profit chain, NFTs empower artists and content creators directly.
The NFT Metaverse
Croissant also believes that NFTs will be able to power a universe beyond the physical realm by merging VR tech with real-world applications and online asset ownership. They referenced virtual ad spaces and tokenized digital items to draw attention to more specific examples of this development that is already taking place.
NFTs In Retail And Commerce
Finally, Croissant touched upon the role of NFTs in retail and commerce by citing two examples - royal jeweler Asprey’s NFTs and Dallas Mavericks tickets.
British jeweler Asprey has announced a plan to issue NFTs to ensure easier trade and authentication of their diamonds, which will now be sold as a digital and physical pair for each unit.
Similarly, billionaire Mark Cuban’s NBA team, the Dallas Mavericks, is considering adopting NFTs as tickets to their events. It would allow them to collect royalties from all the transactions that occur with their tickets even in secondary markets.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.