NFTs Changing The Culture Of Incentives

Glad to see how roles are being switched right now, few months ago or a year ago, movies were financially provided for with NFTs. That is NFTs were sold to make movies. But now NFTs are being turned into movies and that shows a lot of progress in the NFT industry. When movies are being made based on certain trend, culture or event, know that lots of impact have been made and more exposure is required.

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Exposure is most times always good for business, exposure means more people and probably more utilities. NFTs have been a great influence in people’s lives one way or the other. The common influence that NFTs have is obviously the money part, where it has made lots of people rich. But aside that, we can all agree that it has made lots of artists get appreciated more and this has in turn helped them explore their creativity more.

Lots of people have been lucky with this NFT thingy even if what they did can be considered different. I’m talking about the Indonesian man who posted lots of pictures of himself sitting in front of a computer for about 4 years, minted them and listed them on open sea. That’s an NFT historical moment right there. This means that this Indonesian man will be receiving royalty fees for any NFT sold every time they get sold. Yep, most NFT creators get royalties for life for creating a collection.

We have also seen lots of brands utilize this NFT opportunity in order to either capitalize on the new money making wave or help in introducing its brand into the metaverse. Like Budweiser, Pepsi and others.

Let’s talk of how NFTs have changed the game in terms of incentives. Almost any events and occasions these days use NFTs as a way to reward participants and everyone is accepting it because they believe it’s going to be valued a lot in the future. You go on Twitter and see lots of people participating in one give away or the other trying to get free NFTs by following all the instructions. Coachella announced its involvement into NFTs and how some exclusive NFTs can be used for lifetime passes into every Coachella events.

You must have heard of the POAP app, a platform that rewards event attendants with NFTs, that’s another way of incentivizing virtual attendants. The Coingeckocon event that took place in 2021 rewarded ticket buyers with NFTs, and the Coingecko con event expected to happen this year is going to reward its ticket buyers with NFTs.

You don’t see people getting rewards with gift cards anymore it’s either crypto or NFTs. Everything is going virtual, so it’s right we go into virtual incentives also.

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