Examples

Examples of NFT utilities:

• CryptoPunks, one of the earliest and most popular NFT projects, offers special benefits to their holders, such as early access to new projects and VIP status at events. This utility has helped to drive demand for CryptoPunks NFTs, with some selling for millions of dollars.

• NBA Top Shot NFT project offers collectors the chance to earn royalties based on the resale of their NFTs on the secondary market. This utility has helped to create a new market for digital collectibles, with some Top Shot NFTs selling for thousands of dollars.

• Axie Infinity NFT game allows players to own and govern their own virtual creatures, with the ability to vote on changes to the game's rules and economics. This utility has helped to create a vibrant community of players and investors, with some Axie Infinity NFTs selling for tens of thousands of dollars.

• The Rarible NFT marketplace offers special features to holders of their RARI token, such as reduced fees and priority access to new NFT drops. This utility has helped to drive demand for RARI tokens, with some selling for hundreds of dollars.

• The Beeple NFT artwork that sold for $69 million at Christie's auction house was a historic moment for the NFT market, demonstrating the value and potential of NFTs as a new asset class cause one of the most fundamental utilities of NFTs is their ability to prove ownership and authenticity of a digital asset. This utility has helped to create new markets for digital art, music, and other creative works, allowing creators to monetize their work in a way that was previously impossible.

The next era of NFTs will be characterized by a shift towards utility-based projects. In the past, NFTs have largely been viewed as collectibles, with their value primarily determined by their scarcity and aesthetic appeal. However, as the market matures and investors become more discerning, we can expect to see a greater emphasis on the utility of projects. The success of an NFT project will depend heavily on the services and benefits it offers to its holders. Projects that offer unique and valuable services will be more likely to attract and retain investors, while those that offer little in the way of utility will struggle to gain traction in the market. These NFTs offer a level of transparency and accountability that is often lacking in traditional investment opportunities.

As the market for NFTs continues to evolve, we can expect to see a growing number of utility-based projects emerge. These projects will be more than just digital collectibles; they will be dynamic and interactive platforms that offer a range of services and benefits to their holders.