Ask any tech enthusiast about the best trends to invest in, and you’ll receive a three-letter answer: NFT – the latest craze to hit the Internet. It seems that Non-Fungible Tokens are on everyone’s agenda right now. And whether you’re just getting started with them or already looking to harness their enormous potential, one thing’s for sure: NFTs are the way forward for businesses and brands to connect better with their customers and fans.
At Digitize Everything, we’ve been at the forefront of blockchain development, the underlying technology behind NFTs, long before they became mainstream. Today, we’re helping businesses and individuals jump on the NFT bandwagon and reap the rewards that come along with it. But before we tell you more about the NFT services we provide, let’s see how NFTs disrupt various industries and traditional business models.
For those of you who aren’t familiar with NFTs, here’s what they are and do in a nutshell:
What is an NFT?
NFTs are cryptographically unique tokens attached to digital (and sometimes physical) content, providing proof of ownership. Think of them as digital assets representing real-world objects like art, real estate, music, in-game items, and videos. Every NFT is unique and can’t be replaced or swapped like for like.
The NFT buyer owns the original copy of a digital file in the same way you might own the original copy of a piece of physical art. NFTs are stored on the blockchain and can’t be replicated. They are easily transferable and fraud-proof.
The beauty of NFTs is that they create value for almost anything digital and physical. You can successfully use them in any niche. The imagination is the only limit. Here are a few examples of NFTs:
- Collectible items/Trading cards
- Digital artwork
- Event tickets
- Film and music tracks
- Gaming items
- Iconic sports moments
- Virtual fashion
- Real-world assets
Why are NFTs so popular?
Digital Artists have long been searching for ways to gain control over their assets and generate new revenue streams that bypass the middleman. With the emergence of NFTs, creators can generate limited and unique marked versions of digital artworks and commodify the assets.
Take the music industry, for example. Traditionally, the royalties have been the bread and butter for musicians. But living off them alone is difficult. A physical record purchase usually earns musicians a single payment, regardless of how many times someone listens to the album. And if the record owner resells the album, the royalty holder doesn’t get paid again.
NFTs allow musicians to claim full ownership of their music without sharing profits with label records. Moreover, NFTs provide artists with tons of opportunities to connect with fans on a deeper level.
More and more musicians have started releasing NFTs that feature exclusive songs and unreleased music. Now you can own the first-ever vinyl of your favorite album or buy NFTs for special perks such as meeting in person with singers after the concert. Both indie artists and music superstars sell their music and art as NFTs.
Practical NFT use cases
While NFTs are taking by storm the art and music niches, their application goes far beyond the entertainment sectors. Many industries are ready for NFT integration and are waiting for creative entrepreneurs to put NFTs to good use. Here’s how NFTs are shaping the world around us:
NFTs in healthcare
When it comes to medical history, keeping it accurate and safe is of paramount importance. NFT ledgers can store an individual’s medical records without affecting confidentiality or allowing tampering from external sources. The entire medical data can be attached to an NFT Birth Certificate to create a lifelong identity and history on the blockchain. And that’s just scraping the surface.
Blood donation organizations already encourage the use of NFTs for blood donations. Every donor is marked with a specific token that can then be followed through the system. The donation can then be tracked from transport to the hospital into a blood bank and its eventual recipient.
NFTs in real estate
Every investor dreams of becoming a real estate tycoon, but often money isn’t the only problem. Buying property is a lengthy process involving tons of paperwork and bureaucratic impediments. With an NFT, the entire process is simplified, allowing buyers to assume ownership of a residential or commercial real estate within minutes.
By using blockchain and NFT technology, buyers and sellers can transfer their assets in a fast, transparent, and secure way. The NFT will hold key information about the property’s history, from the moment it was built to all remodels up to closing the sale.
NFT in sports
Sports generate tremendous amounts of engagement and unite communities worldwide. On top of that, they are profitable ventures with millions of fans pouring their hard-earned money into the matchday experience and sports apparel.
NFTs disrupt the sports industry by tokenizing legendary moments, player cards, and memorabilia. According to a Deloitte study, sports media NFTs would produce more than US$2 billion in transactions in 2022. Now is the perfect time to cash in on the NFT frenzy in the sports world, and we already have clients doing exactly that. Click here to learn more about Grid Collector, the platform that tokenizes physical artifacts worn in real life by players during the greatest performances in NBA history.
NFT projects development
How do you integrate NFTs into an existing business? What audience is your platform designed for? Do you have a great NFT idea but don’t know how to make it real? Launching an NFT app or startup is especially challenging for entrepreneurs who are just dipping their toes in the world of AI, blockchain, and cryptocurrency. Even early crypto adopters require skillful developers to transform their vision into a successful service or product.
At Digitize Everything, we use a holistic approach to connect high-end technologies with established systems so that you can monetize the latest trends and be ahead of the competition. We provide all the services required to create, launch, and manage a profitable and meaningful NFT project. Here’s what we do:
Blockchain is the home of cryptocurrencies and tokens. It brings transparency, security, immutability, and new economic models to a fast-changing world. NFTs rely on blockchain technology to prove authenticity. Within the blockchain, computer programs called smart contracts implement the sale agreement between the NFT owner and the buyer. All the terms and conditions are hardcoded into smart contracts and can’t be waived.
Most NFTs run on the Ethereum blockchain, so you need developers who know it inside out. As core blockchain developers, we create the foundation and architecture for your NFT products. We’ll pick the right tools and programming languages for your particular project so you can focus on your business. To learn more about Blockchain development, check this article.
NFT website UI/UX design
Offering great NFTs without a high-end website is like filing a Ferrari with low-grade fuel. New technologies require supportive infrastructures like scalable servers and fast-loading sites. Above all, NFTs need to be accessible to the average user. Here’s where a versatile UI/UX design comes into play.
Having designed hundreds of websites, we know exactly how to translate your ideas into highly convertible pages. Sleek graphics and intuitive navigation will walk users through the process of buying NFTs and leave them wanting to come back for more.
2D and 3D imagery design, illustrations design
Applications that make extensive use of 3D graphics are becoming increasingly widespread and popular. The three-dimensional design fits in perfectly on any NFT website. Whether it’s sports memorabilia, digital art, or gaming items, our 2d and 3d imagery design captures attention like no other form of communication. If you’re looking for NFT design services, your search stops with us.
Our skilled team of creative artists will guide you all the way from an idea to a polished NFT illustration. The great thing about NFTs is that you can turn anything into a one-of-a-kind masterpiece. If you need inspiration, we’re here to provide it.
Web app front end development using React and Vue
Front-end development is essential in conveying a compelling brand to customers. Your NFTs need a place where they can shine, and we can build it with React or Vue. To see these programing languages in action, check our portfolio. We’ve also written about React and Vue development on our blog.
API and database development
An NFT API is a critical element of every NFT application. Whether you’re looking to build an NFT marketplace, create an NFT game, develop a wallet, or launch an analytics site, you’ll need a reliable and robust NFT API. Without it, you won’t be able to efficiently manage and control the metadata for NFTs, NFT prices, and NFT ownership.
We can develop custom APIs and databases to help your NFT app run on full cylinders and do all the heavy lifting on the backend. With just a few lines of code, you’ll be able to pull out essential information such as transaction history without sorting through endless individual smart contracts.
An NFT wallet is a specialized piece of software that supports the blockchain protocol and stores the NFTs safely in one place. It also needs to support the currency you’ll buy NFTs with, such as Ether. NFT wallets provide similar utility as they do for cryptocurrencies. They are easy to use and are compatible with multiple NFT marketplaces.
We offer full wallet integration with Meta Mask, Wallet Connect, and Coinbase Wallet so that your customers can effortlessly control their digital assets. Both creators and collectors will appreciate the friendly user interface, cross-chain compatibility, and availability on multiple devices.
NFT development is both exciting and complicating. With so many elements to integrate like tokenization, smart contracts, backend APIs, UI/UX design, and digital wallets, you need experienced developers who can think strategically, lead projects, and produce exceptional results.
For every successful NFT startup, there are many more that never get off the ground. Most entrepreneurs fail to execute properly the roadmap for a sustainable business and view NFTs as a quick cash grab.
Successful NFT projects need a strong community following them. You can get the biggest stars to endorse your products, but without a technically sound platform, it’s impossible to thrive in NFT markets.
When you hire an NFT developer from the beginning of your project, they will provide expertise throughout every stage of the process. NFT developers work on the front-end interface and back-end technologies to make your NFT product stand out in a crowded market.