Buying art has always been a two-fold practice. First, you buy art for its beauty, and second, you buy art for the purpose of investment. That is why the art market is still so successful, and is worth billions of US dollars. NFTs are no different. NFTs have more to offer than simply a pretty picture; owning an NFT is a worthwhile investment, just like owning a Rembrandt.
Some NFTs have even more to offer than an investment opportunity. These NFTs are called Utility NFTs. Sometimes, buyers receive physical artworks along with their NFT, but other NFTs offer practical uses such as exclusive memberships, invitations to in-person events, and future use in the digital world of the metaverse. For example, if you purchase a Metakey NFT, you have access to the exclusive Metakey clubhouse in Decentraland. Other perks of Utility NFTs include gaming tokens, fashion and luxury goods in the metaverse, and more.
So, not only are owning Utility NFTs beneficial, but creating Utility NFTs is a good way to differentiate your NFTs from the rest. If you are diving into the world of digital art and cryptocurrency, you will realize that it may be an overwhelming arena to enter, as there is a lot of competition. That is why it is important to ensure that your NFTs have more to offer. At African NFT, we differentiate from the rest by focusing on giving back. We support the International Rhino Foundation (IRF) for the protection of the majestic Rhino. Therefore, our buyers will not only receive a unique artwork and make an investment, but they will be supporting a renowned charitable organization. We are looking into more partnerships for future NFT collections, so that we can expand on the utility of our NFTs.
Ultimately, a special NFT needs to have a combination of features to make it successful, and one of those features will be its unique use. How will you make your NFT different from the rest? What more will it have to offer so that it’s a not for nothing NFT?