The attached NFT utility refers to the additional functionality or benefits that an NFT can provide beyond simply representing ownership or proof of authenticity.
Utility can also be referred to as rewards or perks that an owner/buyer receives when purchasing your decentralized work. Here are some examples of attached NFT utility to keep in mind for your next project or drop:
- Access to Exclusive Content: NFTs can grant their owners access to exclusive digital content, such as early access to a movie premiere or VIP access to a concert.
- In-game benefits: NFTs can provide in-game benefits to players, such as unlocking new levels, characters, or items in video games.
- Loyalty Programs: NFTs can be used to represent loyalty points or rewards that can be redeemed for various goods or services.
- Digital Identity: NFTs can be used to store and manage digital identity information, such as personal certificates, passport information, and other forms of verification.
- Virtual Land: NFTs can represent ownership of virtual land, such as plots of land in virtual worlds or online gaming communities, which can be used to build and host virtual experiences.
- Social Media: NFTs can be used to represent unique social media profiles, such as verified accounts, celebrity profiles, or influencer accounts.
- Staking: NFTs can be used for staking, which is the process of holding a digital asset for a certain period of time in order to receive rewards or benefits, such as discounts or early access to new features.
- Voting Rights: NFTs can be used to represent voting rights, such as in decentralized autonomous organizations (DAOs) or other forms of decentralized governance.
- Royalties: NFTs can be used to manage and distribute royalties, such as for artists or content creators who sell their work as NFTs.
These are just a few examples of the NFT utility you can attach to your work. As the technology continues to evolve, it is likely that we will see more innovative uses for NFTs and their attached utility.