3 NFT Business Models That Work

How to Make Money With NFTS

 

NFTs are the future. They are going to be an important part of the Internet. Especially for creators.

 

They are still in their infancy. But who knows where things can go?

 

Regardless of their age, there are providing to be 3 business models for NFTs.

 

However, I can almost guarantee you that there will bee more in the future. These are the 3 big ones right now.

 

 

Community

A good community can make or break you. Communities offer the ability to meet like-minded people, share interesting ideas, and grow.

 

Platforms like discord and telegram are proof, communities are greate.

 

But there are many different kinds of communities. There are public and open communities where everyone can join. These tend to be large and noisy.

 

These communities can be greate. But the trade-off is quality. You inevitable have trolls, and nonsense along the way. People who obviously don't belong there.

 

One option is to pirce people out. The more you are willing to pay, the more you value access to that community.

 

This increases the quality but also has a tade off. All the value goese to the creator. Not necessarily the community mebers themsevlves. You know, the poepl who make the community great?

 

 

NFTs fix this problem

You can create a private community and only those who have the NFT can join.

 

There are countless examples across the web. For example, I'm a member of the Developer DAO.

 

It's a community of programmers interested in building Web 3.0 and the future.

 

The community is top notch. These aren't just people who think similary. But also have similar skill sets and struggles.

 

And there are many other examples.

 

The beset way to learn more is to simply join a DAO for yourself. See what it's all about. It's really interesting to say the least.

 

 

The Oppourtinity

If you have the right connections and can build a high-quality community, this is going to be an amazing business model for you.

 

You can monetize through the initial sale of the NFT. BU you also get a cut if they sell it to someone else in the future.

 

Even if people love being part of the community, everyone hase their price.

 

Learn more here.

 

Artistic & Collectibles

This is the most obvious use case. The idea is simple. Create something amazing. Mint it as an NFT. ANd sell it.

 

However, this isn't just limited to creating great art.

 

The real breakthrough in this category will be in gaming. Having an NFT will make the experience even better.

 

Of course, that can't degrade the game quality for other player either though. People won't play it. It's a more difficult problem than you might imagine.

 

Here is a Twitter Thread with more info.

 

When news sites are talking about NFTs, this is generally the kind they are talking about.

 

Experience-based

This is the newset and most speculative NFT business model. Not many people have attempted this just yet.

 

But it can porve to be a bing thing. Here is why.

 

We pay lots of monye for experiences. Thing about how much money gets spent on education alone.

 

We are talking billions of dollars. Not to mention how much we all individually pay for college.

 

We largely go for the exepreince and skill set.

 

Having a marketing degree probably means you are better at marketing than the average Joe.

 

But right now, we rely on accredited schools to teach us these skills. But as everyone is finding out, schools arent' that great.Lots of people leave college with no marketable skill and a useless degree.

 

In many cases, it would be much better to get direct mentorships or learn from an online masterclass.

 

And with NFTs, this might just become a reality.

 

Imagine being mentored by VItalik Buterin. Imagine he made you an amazing software developer.

 

He wouldn't have any way to give you a degree. Afte all, he's not a college.but what if he could create an NFT that verified the mentorship?

 

You could easily verify that it was created by him. And verify that it's in your wallet.

 

This model is already in practice with projects like BuildSpace. You build a projects along with the cohort. And get on-chain verification. It's better than a resume bc you can't fake it! And mebers have already used it to land high-paying Web3 Developer jobs.

 

But this goes so much further than education.

 

Imagin any knid of event you would want to be part of. A concert, a sports game, live stream, training, etc. The possibilities are endless.

 

We are still early with the tech. Most people don't know how to use NFTs. Let along what they are.

 

But there may be a day when most people do. And every valuable envet is one the blockchain.

 

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This post is from here, https://medium.com/yardcouch-com/3-nft-business-models-7d833a1e54a6