Business Guide to Understanding NFTs for Access and Utility

Business Guide to Understanding NFTs for Access and Utility

NFTs for access and utility

Table of Contents

You may have been wondering what kind of “utility” NFTs can really bring to the table since there are many projects in the space, yet everyone seems to focus on delivering their utilities to their NFT holders.

 

In this article, we will explore the use of NFTs and other possibilities for businesses to understand this ever-changing landscape of Web 3.0.

NFTs Access Passes: What is it?

 

As these non-fungible tokens exist on the blockchain, they also come with the ability to verify proof of ownership through wallet addresses / Name Services across networks. 

 

An obvious example of an NFT access pass would be a special kind of ticket to an event. Traditionally, tickets are issued according to the differences in seating and tier based on the time purchased. With NFTs as tickets, an event such as a concert, webinar, or networking event will be able to issue verifiably unique tickets that have proof of ownership with history or transactions stored in the blockchain.


You can see Coachella’s NFT access passes as examples here

What is ‘special’ about these NFTs, especially from a business’s perspective?

 

Using NFTs as tickets for an event can create many streams of value, whether for the event itself, ticket holders, or partners involved. Here’s why:

 

#1 Proof of attendance 

 

In significant events like Glastonbury Festival, ticket holders must verify their ID with a system to get a physical (with image) ticket to prevent fraud and invalid passes and control the audience’s overall safety.

 

If the said event used NFTs, their ticketing system might be improved since ticket holders can verify themselves with a simple swipe on their phones, making the experience smooth while remaining efficient regarding the event’s safety policies.



#2 Utilities for holders & Marketing values for partners

 

The sponsors/ partners are the hearts that pump the event’s energy and the organizers. They play a massive part in shaping what kind of experience a specific event will provide. What the event can do to increase the utilities for the NFT collection and deliver valuable results for partners is to integrate exclusive perks, privileges, or access for the partners and NFT holders. 

 

For example, the event’s NFT holder can access the partner’s special VIP area or get an exclusive discount on a certain line of products. This way, holders can enjoy their privileges to the fullest while partners can get in-event traffic with awareness in the Web3 space.

NFT Access Passes in the online world

 

You may wonder, “Can NFT Access Passes be used in other forms?” The answer is crystal clear, YES!

 

Apart from IRL (in-real-life) events, NFT access passes can also be used in the online world, introducing the concept of “NFT token-gated content.”

What do you mean by “Token-gated”?

 

Allow us to explain.

 

Today, we are familiar with exclusive content through subscription services like Patreon and OnlyFans. How it works is the creator creates content and locks it behind a ‘paywall,’ and then supporters who subscribe get access to the content. 

 

As per Token-gating, the content will only be accessible to supporters who own a specific token (like NFTs). We already see this happening in discord communities, where the members need to ‘verify’ a certain token/ NFT to access a certain server section.

 

At SIX Network, we adopted a similar concept with our holder club, where community members with 5,000 SIX tokens in their wallets can verify themselves and join the club.

 

You can learn more about it here.

Summary

 

While NFT ticketing is an obvious real-world use case everyone can imagine, we can all agree that one of the ways to create utility and value for NFTs is for businesses, creators, and projects to consider token-gating the content!

 

Is this all NFT access passes can do/be? 

 

One of the things our team likes to do at SIX Protocol is to explore as we try to unleash the true power of digital assets, a world with unlimited possibilities. What we covered today in this article is just the first layer of many more. 

 

NFT access passes can be used in many other forms, such as newsletters and virtual experiences in the Metaverse. So if you’re interested to learn more about all things NFTs, whether for yourself or your business, why not stick around and join our community space on discord?

 

Join now here: https://discord.gg/kypKmUJv9J

Connect with the SIX Protocol team for business opportunities

 

At SIX Protocol, we aim to help businesses and enterprises across industries access this ever-changing era of digital assets and Web 3.0. If you’re planning to build something on the blockchain for your business, SIX Protocol might be perfect for you.

 

Learn more about what we do and stay connected with us at sixprotocol.com

 

Related Posts

Khanathat Chowpradith
Khanathat Chowpradith

Web3 Marketer | Passionate Writer | NFTs enthusiast

Don’t miss out follow us at:

A Crypto Airdrop Mini Guide for Businesses

A Crypto Airdrop Mini Guide for Businesses

cryoto-airdrop

Table of Contents

In the crypto world, one can enjoy many activities, whether you’re completing tasks on social media for an NFT project’s whitelist spot, joining community sessions, or hunting for free airdrops.

 

Today, SIX Network wants to dive into what you need before doing crypto airdrops. So let’s get into it!

A Crypto Airdrop involves blockchain-based projects such as a #DeFi platform or an #NFT project sending out free tokens to potential users, community members, or users who completed a particular step in the platform to increase awareness of the project.

 

Today, Crypto Airdrop is still one of the most popular marketing strategies used by various Web3 projects worldwide.

As crypto airdrops allow projects to shine in the light and gain awareness in the crypto space, it is also considered a gateway for users to get to know the project and the token better.

 

However, it is crucial to note that doing airdrops might come with many challenges that a project needs to overcome, such as scammers and the use of bots.

 ✓ Know your goal

Like any project or campaign in the world, one of the most crucial aspects is the user experience and the goal of your airdrop activity.

 

For example, if your campaign objective is to increase the number of long-term holders, you might consider finding DeFi partners that can co-launch a staking pool for your token.

 

Then, once the airdrop activity is completed, you can recommend the users to stake their tokens and earn some passive income instead of letting them sell all their newly dropped tokens.

 ✓ Create an activity for your audience

When it comes to crypto airdrop, one of the essential processes is to develop a set of missions or tasks users must do to participate in the activity. These missions will be one of the first impressions you’re making to your potential audience that has not yet learned about your project.

If a project can craft a set of tasks that are engaging and not too hard to complete, it might impress users to go ahead and learn about your project. But, at the same time, complex missions might draw the interest away from users, especially crypto newbies.

With SIX Protocol’s growth tool, “SIX Zone,” which is specifically developed to help projects manage community activities, you can rest assured that your next airdrop activity or other community activities such as whitelist management or missions tracking will be smooth for your users and participants.

 ✓  Reach individuals from different parts of the world through hashtags “#”

It goes without saying that Twitter is one of the most significant social platforms for crypto enthusiasts. So many interesting and educational things are happening there, but so are crypto airdrops!

If you’re not familiar with Twitter, we heard that @thesixnetwork is a good account you should start following 😉

 

One of the most important tips is to utilize Twitter for your airdrop activity to the fullest through hashtags. Hashtags represent topics, interests, or trends that are happening around the globe. Twitter users use hashtags to find the conversation or content that they prefer. With crypto airdrops, of course, many people are looking through different hashtags to find the activity to participate in.

 

Here’s an example from an airdrop activity that we did with Z7DAO, 77 Z7DAO Airdrop, which got over 800+ retweets and liked with more than 10,000 impressions.

If you made it to this point, you must be excited to join an airdrop activity or even host one yourself! Don’t know how to start? Why not hit us up?

 

Suppose you’re interested in learning more about how to create a successful airdrop activity or exploring ways you could utilize all the things mentioned in this article; feel free to contact our team at SIX Protocol here: https://bit.ly/contact-sixprotocol

Don’t miss out follow us at:

Khanathat Chowpradith
Khanathat Chowpradith

Web3 Marketer | Passionate Writer | NFTs enthusiast

Related Posts

Guide to Understanding the Paradigm of Web3, Blockchain, DApps for Business, and What Are Their Benefits

Guide to Understanding the Paradigm of Web3, Blockchain, DApps for Business, and What Are Their Benefits

six-protocol-web3

Table of Contents

 

Technology for Data Safety

 

 

Borderless Web3 Transaction

 

 

Chainlink is an example of a blockchain-based project building Web3 beneficially for business transactions. Chainlink is a blockchain middleware that allows smart contracts to access vital off-chain resources such as data feeds, web APIs (application programming interfaces), and traditional bank payments corporations.

What Can SIX Protocol Chain Contribute?

 

 

 

➤ Provides a trustworthy environment for the community

 

➤ Lowers barriers to access services

 

➤ Encrypt identity and no intermediary

Don’t miss out follow us at:

Napathsorn Unchit
Napathsorn Unchit

Passionate about financial world and is an inverstor too! Giving out news update and blog post every month.
Visit us at SIX Network for more.

Related Posts