NFTs aren’t all they used to be in the public eye, due to a lot of misinformation, and bad actors. But the blockchain technology they’re built on is still very powerful, and useful in today’s market. This is true because blockchain technology still has unlimited utility, can create brand-new revenue streams, and is the perfect next step for a major brand who is trying to keep up, or stay ahead of the curve. Brands still have time to become early adopters of Web3 Fan Engagement Platforms, but the window is closing fast.
Right now there are many successful ventures, primarily in the sports industry, but their success is showing that this model can work in a variety of landscapes. But let’s start by looking at some successful examples of digital colectible marketplaces in the sporting world.
Way back in June 2020, NBA Top Shot launched. It was a revolutionary platform that allowed NBA fans to purchase NFTs called ‘Moments’ of in-game highlights that came in packs of three. You could also buy and sell individual “Moments” on a peer to peer marketplace, and set your own prices, with Dapper Labs, the company behind it, taking a small percentage of every sale. Less than two years later, it surpassed $1 billion in sales, and is a huge, consistent marketplace. Not only was this very profitable for Dapper, but it opened up similar deals with other major sports leagues around the country, and many projects are in the works.
But this technology can be used by any brand, not just brands within the entertainment space. A great example of this is Nike. In December of 2020, Nike acquired RTFKT, a digital design studio. In April of the following year, they released a collection of 20,000 Sneaker NFTs, which sold out in minutes and generated over $3 million in revenue! They had a second drop in April of 2022, titled MNLTH, that generated millions more, proving that this technology is more than a trend, and that any type of brand can be successful in this space, provided it’s done right.
The power is ultimately in your hands to decide how you want to take advantage of this technology. With ePaymints, you can have an official and fully customizable NFT marketplace for your brand. Work with us to create your NFT plan and strategy, customize your site with team branding, and launch NFT campaigns, fully within our platform.
Your collectibles can be anything that you can possibly imagine, and there are no limits to what this technology can be used for. This is an entirely new revenue stream, and you can be among the first to implement this groundbreaking tech with your brand – so get in touch with us today so see exactly how we can help you and your business take advantage of these exciting new opportunities! Visit https://epaymints.com/integration-onboarding/ to start the conversation today.