NFT Reloaded — The Future of Digital Ownership
Many NFTs made under the initial hype offered no options for collectors. This is why sceptics argue that the NFT brought nothing new that could not be achieved with a traditional database. Good news for NFT collections gathering dust on NFT platforms. Features have arrived that can revitalise any collection.
In our previous posts, we have collected the features and use cases that turn our NFTs into valuable tools. Most of the solutions are already in use in gaming, sports, art, film, music, innovation, investment or charity work because they offer useful features to their owners. However, except for collectables issued by artists, there are many collections on the market that offer no extras to customers. Some of these have done well in primary sales but generally could perform better in the secondary market and in resale. The good news is that an NFT collection can be rechargeable and upgradeable with an increasing number of programmed features. And this could redesign NFT trends worldwide.
Most of the first-generation NFTs promised a quick profit and did not focus at all on the value they would bring later on. It has been proven that the mass market of featureless collections is really good for nothing. They did not guarantee a good sales value in the short term, nor did they offer any extra features or opportunities to collectors. They were only included in collections because nobody knew which project would be the winner.
No matter the big name, the well-known company or the theme, if there were no features, the collection would usually only increase the number of NFTs. For such famous brands, it is no longer worth launching an expensive NFT collection if there is no WEB3 message, serious concept or functional added value behind it. This is what happened in January with Porsche when they released their 911 collection without any serious preparation. It was a major setback for the brand that instead of emphasising its creativity, NFT really went for broke. The time for featureless collections is over.
This is where creativity can come into play. Options, whether they be discounts, loyalty or otherwise, expand the scope of the project. They can be retrofitted to NFTs and even updated at any time. These ideas can breathe new life into a project that has been gathering dust for a long time.
Fast and speculative NFT projects will become a smaller and smaller part of the supply. We may not fly to the moon immediately, but even in the medium to long term, it is possible to create a satisfied user experience. Digital loyalty cards and discount cards are perfect for this.
Some people like to get a discount, while others like to feel like VIP customers. There are many ways to phrase these options, but ultimately they achieve the same result, the user is satisfied. Digital solutions like this are also exciting because there are already a lot of physical cards in the wallet, and people don’t really want another one. If this can be done with a mobile app and the physical card is just an additional option, users can decide whether they want another plastic card.
The older NFT collections were not released at a time when their designers were not focused on the fan experience or “connecting with physical objects”. This can be made up for in hindsight by redesigning NFT to include features that build community or a more direct connection with the subject.
Personal Digital Connectivity
The functions of NFTs are also determined by the theme of the collection. If you want to publish images by a famous artist, it is important to focus only on the artistic value or, for example, on building more direct fan relationships.
An artistically exciting museum collection can be a digital keepsake or even a discounted ticket to an event. Such digital solutions can also help to connect WEB 3 to the arts.
Fan NFTs, on the other hand, achieve their goal by bringing fans and the object or person they are passionate about closer together. A footballer, a film actor or a basketball player can now organise a personal meeting with the digital community. And a digital signature or a famous relic is slowly becoming an essential requirement on such NFTs, as fans collect such memorabilia in all its forms.
Gaming in all quantities
The big thing about reissued NFT collections is that the user’s NFT can be renewed month by month. The change can be linked to games, promotions and any activity that can revive even completely dormant communities.
Digital collectible games, puzzles and similar solutions can be combined with tasks. Along with the functions, the activity of the existing community can be increased. These new elements can be used to build up a new collection, launch a new product or start a service.
Games and gamified solutions depend only on the creativity of the project designers. Digital marketing and PR have adapted very few tools to NFT collections, so the field is wide open.
The answer is straightforward; anything that can be programmed. It is clear that the big bang this year will be “phygital”. AR suits by fashion designers that can only be seen with special software are already being made. And digital artists will send their signed and numbered prints to their NFT owners.
It is clear that the fashion and advertising industry is waking up, and new solutions will bring many exciting things to the world of WEB 3.
Gaming software will convert players’ avatars and virtual assets into NFTs. This way, they can be easily verified and securely identified in case of any changes. In addition, the way characters and their items are sold will be completely transformed.
Security and identifiability will definitely be taken to a new level with digital solutions. All this, of course, is in a world of digital collectables that are easier, more manageable and more interesting.
The Galaxis team is working on these solutions, some of which can be added to a collection that currently has no features with just a few clicks.
Written by Tamas Peter Turcsan
For legal purposes, we have to include this disclaimer. This, of course, doesn’t mean that we won’t do our absolute best to make every feature possible, but since this is new technology and new legal territory, we need to make sure that the terms and conditions are in order.
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