NFTs are More than Art

NFT Art is more than art.  Many NFTs provide utility that goes beyond the cool artwork.  The NFT can act like a license into the metaverse.  This license may allow the NFT owner access to exclusive lots of land in the metaverse, or to exclusive events in the metaverse.   A Monkey NFT can turn your profile picture into a status symbol.  Some NFT Art can provide the NFT owner with access to exclusive real-world events, or even access to your favorite dish at your favorite restaurant.  As hundreds of NFT projects are created every day, the utility and the benefit associated with NFTs is expanding at a rapid rate.  The NFT Community continues to develop more utility and benefit as the technology develops and users increase.  In this blog post, we take a closer look at the multiple benefits associated with owning NFTs.

Access to NFT Art Community

NFT Art owners gain access to community.  Many NFT projects have large communities.  The NFT community has grown increasingly large on Discord, Twitter and Instagram.   In the NFT Community, these social media channels have become very active spaces.  Individual NFT owners may share information on their NFT holdings or discuss upcoming NFT projects.  It is a great way to make connections in the NFT community.  Discord remains the most common social medial channel for NFT communities, but Discord is not alone.  The Twitter NFT space is a very large one.  Many members of the NFT community are on Twitter sharing their NFT Art and information on the NFT marketplace.

NFT Community

NFT Community

Access to Exclusive NFT Art Merchandise

Some NFT Projects have created exclusive merchandise for their NFT owners.  The only way to get this merchandise is to own the NFTs.  NFT Projects have opened up their own exclusive online shops, wherein NFT holders can buy limited edition goods with their favorite NFT art.  The NFT merchandise also connects fellow NFT owners, as well creates buzz and marketing for the NFT brand.  The NFT merchandise can also be created by the NFT owners themselves, as we discuss below.

Access to the Intellectual Property

NFT Projects can give the intellectual property of the artwork itself to the NFT owners.  This is a great opportunity for the NFT owner to be creative with their digital asset.  For example, the Bored Ape Yacht Club, the most successful NFT Project to date, gives their NFT owners the IP rights to their own NFT.  This allows the NFT owners to create content with their NFT art.  Seth Green was attempting to create a TV show with his Bored Ape.  Another Bored Ape Yacht Club NFT owner started his own Bored Ape restaurant.  Two Bored Ape Yacht Club owners recently partnered with a beauty company to create a skincare and candle line.

Bored Ape Yacht Club NFT products

The Bored Ape Yacht Club Candles.

Ownership of an Asset

NFTs are digital assets.  These digital assets not only provide utility, but the assets themselves may appreciate and add value over time.  The blockchain technology has allowed for the verifiable ownership of digital assets and the easy and secure transfer of those assets.  The technology has allowed for a new type of asset class.  NFTs are not screenshots of photos.  NFTs are digital assets that are encrypted and secured on blockchain technology.  Some NFTs are worth millions of dollars.

NFT Digital Assets

NFTs are digital assets.

Access to Airdrops and Whitelists

NFT owners also may gain access to airdrops from the NFT project.  These airdrops are given to the NFT owners by the NFT project.  The drops can be tokens or other NFTs.   Most of the time, these drops are surprises and are totally unannounced.  NFT owners may also be provided access to whitelists to future NFT projects.  This can be a great benefit, as some NFT projects allow whitelist members to mint at well below cost of the public mint.

Access to Information

The owner of NFT Art can be provided access to exclusive information on the NFT social media channels and forums.  This information may be about the current NFT project, or about a completely different NFT project altogether.  The great thing about the NFT communities is that members of the community have a ton of knowledge and readily share it. The NFT Discord servers are really great places to get exclusive content and information.

NFT Information

NFT owners can be given access to information.

 Tickets to Real World Events

NFT Art can function as tickets to real-world events.  One of the coolest utilities that NFT Projects can provide is access to exclusive, real-world events.  F0r example, Bored Ape Yacht Clubs has a yearly event Ape Fest in New York City.  These types of NFT Art events are great for building community and also making connections throughout the NFT Art world.  NFT Art owners can also be given exclusive access to other types of physical events, such as backstage access to concerts, or access to concerts, shows and more.

NFT Tickets

NFTs can act as tickets to real world and virtual world events.

NFTs that Pay Interest

Some NFT projects have their own tokens.  Some of these tokens have actual value, while NFT project tokens can be used to purchase exclusive merchandise and other NFT project items.

The Technology

Blockchain technology allows non-fungible tokens to be easily transferred and encrypted.  This is a game-changer, as it allows for digital assets to be verifiable and allows the marketplaces to remain liquid.

Continue to check out our blog post for more news on NFTs, our Awk Monk NFT Project and other helpful resources.  Also, don’t forget to check out our Ultimate NFT Monkey Guide, where we talk everything NFT Monkey related.