The NFT market is considered by many to be completely useless. After all, who buys “silly monkey pictures” and why. In the opinion of many, it was created only so that “scammy companies” can make a quick and easy profit. However, all signs indicate they’re not entirely right. For example, luxury car manufacturer Porsche recently released its NFT, and it has real use cases. Some other major brands have also launched their collections.
NFTs in 2023
The massive hype surrounding NFTs took off in 2020, leading to various NFTs being sold for exorbitant amounts, even if they held little or no inherent value or benefit for the holder.
At that time, the mainstream struggled to grasp the concept of non-fungible tokens and failed to recognize their potential usefulness. As a result, the initial NFT hype eventually subsided, and some investors incurred significant losses. However, it’s essential to question whether this means that all NFTs are entirely useless and merely created for quick profits.
The answer isn’t straightforward. Several major brands have ventured into the world of NFTs, and it’s unlikely that their primary motive is solely to earn a few extra million dollars at the risk of tarnishing their hard-earned reputations. Notable brands that have entered the NFT space include:
- Porsche
- Nike
- Adidas
- Tiffany
- Louis Vuitton
- Gucci
- Coca Cola
- Amazon
- Starbucks
- Walmart
These brands have released NFT collections that hold intrinsic value for the user. This indicates that the situation is a win-win, and the mentioned companies haven’t just indulged in a quick cash grab. Instead of diving into the specifics of each NFT collection’s usefulness, let’s explore how NFTs can prove profitable for companies and the community using the recently released NFT collection from the car manufacturer Porsche.
Who can Benefit from NFTs?
Collections of non-fungible tokens (NFTs) hold the potential for mutual benefits, benefiting both companies and communities alike. An excellent illustration of this lies in the recent NFT collection released by Porsche.
Firstly, the sale of this NFT collection extends beyond raising funds. Porsche strategically uses it to strengthen its brand community. By integrating this community further, it creates exclusivity opportunities, as not every Porsche owner can possess an NFT from the manufacturer. In fact, the collection is limited to just 2363 pieces.
Moreover, the NFT collection attracts individuals from the cryptocurrency world who may not yet own a Porsche car. This collection serves as a gateway to pique their interest in the brand and potentially lead them to consider acquiring one of Porsche’s vehicles in the future.
For the community, owning an NFT carries numerous benefits beyond acquiring a simple JPEG image to store on a hard drive. NFT holders may gain exclusive access to opportunities, such as test-driving new Porsche models that are not yet available in the market.
Furthermore, the NFT Porsche collection plays a vital role in the development of the entire Web3 sector. The power of the Porsche brand attracts individuals from the traditional automotive world, previously uninterested in blockchain and related technologies. As they venture into the NFT space, they break through technological barriers and explore new opportunities connected to their favorite automaker.
Another compelling example of NFT’s usefulness can be seen in the case of Ari10. Last year, they released Mystery NFTs, which found their way into the hands of the most significant holders of the ARI10 token. These fortunate individuals received physical packages, including a T-shirt with a tag and a QR code to scan. Upon scanning the code, the Mystery NFT was minted, providing a 30% increase in the value of the airdrop token.
NFT from Porsche — Features, Use Cases, and Benefits
In a previous section, we briefly touched upon the features and benefits of Porsche’s NFT collection. Let’s now summarize them in detail:
Limited Edition: The NFT collection from Porsche is limited to just 2336 pieces, making the non-fungible tokens rarer than the brand’s real cars on roads around the world. This exclusivity enhances the sense of belonging within the brand’s community.
Community Involvement: The project’s future is not solely determined by the company; the community is actively engaged in the process.
Three Routes to Choose From: Each NFT holder can select from three unique routes: heritage, lifestyle, and performance.
Uniqueness: Each NFT token is distinct and exists in only one copy. Additionally, users have the freedom to design the appearance of their NFT, giving them authorship over their digital asset.
Exclusive Benefits: Porsche’s NFTs offer various exclusive benefits. For instance, until August 15, 2023, every token holder can receive a complimentary exclusive T-shirt. The company also plans to host digital and physical events featuring brand ambassadors and celebrities.
Summary
NFTs have often been dismissed as unnecessary images with no real value. However, Porsche’s NFT collection challenges this perception, demonstrating that when executed correctly and associated with a prominent brand, NFTs can offer significant advantages to all parties involved — the brand, its community, and the broader Web3 market. This example proves that NFTs are not just a matter of speculation.
NFTs are a relatively new innovation, and it’s not surprising that some projects have made mistakes. Yet, the hope is that most of them will learn from these experiences and continue building more useful and practical products.
Ari10’s Solution for NFT Creators
Until now, selling or buying NFTs has been inconvenient for the average person. However, Ari10’s revolutionary product, the Gateway, has changed that. This widget enables creators to sell their digital artwork through Ari10 Gateway directly on their websites for fiat currencies. As a result, the customer base expands, as individuals unfamiliar with the blockchain world can now purchase NFTs using regular currencies like PLN, USD, or EUR, just like any other online transaction
The Ari10 Gateway is a versatile widget that can be integrated into any website, earning a commission on each transaction. For more information, check out our comprehensive article on the subject. If you’d like to discuss specific details of collaboration, we welcome you to schedule a meeting through our availability calendar below: