{"id":332310,"date":"2021-08-30T16:07:00","date_gmt":"2021-08-30T13:07:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/corporate-brands-target-nfts-and-adoption-continues-to-skyrocket\/"},"modified":"2021-08-30T16:07:00","modified_gmt":"2021-08-30T13:07:00","slug":"corporate-brands-target-nfts-and-adoption-continues-to-skyrocket","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/corporate-brands-target-nfts-and-adoption-continues-to-skyrocket\/","title":{"rendered":"# Corporate brands target NFTs and adoption continues to skyrocket"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3b180ce2012\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3b180ce2012\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/corporate-brands-target-nfts-and-adoption-continues-to-skyrocket\/#Visa_buys_Crypto_Punk\" >Visa buys Crypto Punk<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/corporate-brands-target-nfts-and-adoption-continues-to-skyrocket\/#NFT_adoption_and_corporate_brand_management\" >NFT adoption and corporate brand management<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/corporate-brands-target-nfts-and-adoption-continues-to-skyrocket\/#NFTs_gamified_investments_and_Web_30\" >NFTs, gamified investments and Web 3.0<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Corporate brands target NFTs and adoption continues to skyrocket  <\/strong>&#8221;<br \/>\n<img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDgvMWQwYTg5M2UtZTg2Ni00YTFhLTg3Y2MtMDQyOGQ0ZDIyZTI3LmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-128018ef>The nonfungible token (NFT) space is arguably one of the most popular aspects of crypto and blockchain <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">technology<\/a>. Indeed, NFTs are often the topic of conversation, garnering significant interest both from inside and outside the industry.<\/p>\n<p>Such is the growing <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>eal of NFTs outside the crypto space that major brands like Visa and Budweiser are now acquiring popular items from popular collections. These moves are different from the usual corporate interactions with nonfungible tokens that often involve creating their own digital goods.<\/p>\n<p>As is often the case with crypto and blockchain matters, significant adoption from major legacy players triggers a FOMO-driven frenzy. Several NFT collections have seen massive price floor raises as other collectors hop into the trend.<\/p>\n<p>Beyond the current hype, some crypto proponents say NFTs offer more than memetic appeal and can be the \u201ckiller app\u201d for Web 3.0. If such assertions prove true, then nonfungible tokens could be a conduit for gamified investments in the emerging decentralized web, becoming the focal point of the next iteration of the internet similar to how e-commerce and <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">social media<\/a> have dominated the current cyberspace.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Visa_buys_Crypto_Punk\"><\/span>Visa buys Crypto Punk<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>On Aug. 23, Visa announced that it had purchased Crypto Punk #7610 for 49.50 Ether (ETH) \u2014 about $149,939 at the time of writing. The <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a> arguably caused a stir in the crypto space and even beyond with several CryptoPunks getting snapped up by wealthy buyers keen to get in on the action.<\/p>\n<p>CryptoPunks is among a league of \u201cOG\u201d NFTs from 2017, long before the current hype surrounding nonfungible tokens. Created by Larva Labs back in June 2017, the collection contains 10,000 pixelated images measuring 24-by-24 pixels set in the 8-bit pixel art style.<\/p>\n<p>Punks have been hailed as being the inspiration for the ERC-721 token standard for NFTs and the precursor to blockchain-based generative art.<\/p>\n<p>Upon the initial release, Crypto Punks were available for free to interested collectors. With NFTs gaining in popularity since 2020, the vintage (at least by nonfungible token standard) collection has become increasingly sought after.<\/p>\n<p>According to the Larva Labs website, the cheapest CryptoPunk available for purchase is<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.larvalabs.com\/cryptopunks\"> priced<\/a> at 119 ETH (about $400,000). Several owners reportedly delisted their Punks in the wake of the Visa purchase amid a wave of fresh interest following the news.<\/p>\n<p>As of the time of writing, the 30-day trading volume for CryptoPunks has crossed over half a billion dollars. CryptoPunks trading activity is over half of the NFT volume recorded in August.<\/p>\n<p>Chinese internet billionaires have also jumped on the train, acquiring CryptoPunks for huge sums of money.<\/p>\n<p>These days, premium NFTs like CryptoPunks seem to have become a status symbol akin to the Lamborghini fascination of crypto\u2019s earlier days. It is now common to see celebrities from inside and outside the crypto world sporting popular NFTs as their profile pictures on social media accounts.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"NFT_adoption_and_corporate_brand_management\"><\/span>NFT adoption and corporate brand management<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Detailing the reason for its CryptoPunks purchase, Visa\u2019s crypto chief Cuy Sheffield stated, \u201cTo help our clients and partners participate, we need a first-hand understanding of the infrastructure requirements for a global brand to purchase, store, and leverage an NFT.\u201d While corporate NFT adoption is not a new phenomenon, actually buying an NFT rather than launching a digital collection based on a company\u2019s offerings makes Visa\u2019s move significantly novel.<\/p>\n<p><strong><em>Related:<\/em><\/strong><strong><em> <\/em><\/strong><strong><em>Clever user makes $80K profit in CryptoPunk &#8216;smash and grab&#8217;<\/em><\/strong><\/p>\n<p>Jesse Johnson, founder and chief operating officer of Aavegotchi creator Pixelcraft Studios, told Cointelegraph that Visa\u2019s foray into the NFT space is only \u201cthe tip of the iceberg.\u201d<\/p>\n<blockquote><p>\u201cThe market is going to increasingly see brands, organizations and businesses embrace NFTs over the coming months and years. It will start as a new way to connect with customers but eventually evolve entire industries.\u201d<\/p><\/blockquote>\n<p>Johnson told Cointelegraph that NFT popularity will drive entire industries to re-examine and realign their incentives with their customers.<\/p>\n<p>According to Christian Ferri, co-founder and CEO of NFTPro, a company that provides NFT market guidance to global brands like Prada and Lamborghini, corporate interest in nonfungible tokens covers investments and marketing, as well as driving increased brand engagement among the younger demographics.<\/p>\n<p>Speaking to Cointelegraph, Ferri said that the current hype around expensive NFT collectibles will subside, stating:<\/p>\n<blockquote><p>\u201cAs the market turns, most if not all NFTs not tied to a high-status, the high-equity name will drop in value considerably, if not disappear. This dynamic will reset the attention on a new scale of digital worth, where NFT buyers will seek and demand digital authentic products from known names that, on wide consensus, carry a higher, more predictable weight.\u201d<\/p><\/blockquote>\n<p>There is already growing NFT interest in the corporate world with several major brands looking to establish a presence in the market. Social media giant Facebook has stated that NFTs will be part of its digital asset wallet service Novi.<\/p>\n<p>Reports from China say Bytedance, the parent company of the popular social media platform TikTok might also be mulling an NFT foray. Bytedance founder Zhang Yiming reportedly<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/btcinchina\/status\/1430769228894728192?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1430769228894728192%7Ctwgr%5E%7Ctwcon%5Es1_c10&amp;ref_url=https%3A%2F%2Fcoingape.com%2Fbreaking-tiktoks-parent-company-in-china-to-reportedly-enter-the-nft-market%2F\"> stated<\/a> the company\u2019s planned NFT venture in a WeChat NFT group on Aug. 26.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"NFTs_gamified_investments_and_Web_30\"><\/span>NFTs, gamified investments and Web 3.0<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>With NFTs becoming the conduit for digital ownership, some commentators have begun to highlight the gamified investment potential of nonfungible tokens, especially within the context of the emerging decentralized web architecture. In some ways, NFTs are perhaps shaping up to embody the transformation brought on by e-commerce and social media in today\u2019s cyberspace.<\/p>\n<p>According to Ferris, \u201cNFTs will be the backbone for the third wave of commerce, or virtual commerce.\u201d From digital avatars to virtual and augmented reality (VR\/AR), gaming and metaverses, NFTs are being tipped to permeate several layers of the evolving digital matrix.<\/p>\n<p>This increased penetration also brings up discussions about possible interactions with major pillars of the digital world like e-commerce and social media. Indeed, some companies are already looking to develop infrastructure that will exist at the intersection of NFTs and social media, gaming and e-commerce among others.<\/p>\n<p><strong><em>Related:<\/em><\/strong><strong><em> <\/em><\/strong><strong><em>Ready Player Earn: Where NFT gaming and the virtual economy coincide<\/em><\/strong><\/p>\n<p>\u201cNFTs are empowering real ownership of digital items that can often be used as utilities,\u201d Johnson told Cointelegraph, adding:<\/p>\n<blockquote><p>\u201cBusinesses can utilize NFTs for many different uses, but the biggest of all is gaming. The \u2018play-to-earn\u2019 aspect of NFTs will be revolutionary in the coming years. Through this transitioning from static digital collectibles to tokens, real utility is created and will lead to the next generation of NFTs, especially as more companies and corporations get involved.\u201d<\/p><\/blockquote>\n<p>Indeed, play-to-earn gaming has become a major component of the NFT space with titles like Axie Infinity commanding the attention of players across the globe. The growing popularity of play-to-earn NFT <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/game\/\" data-internallinksmanager029f6b8e52c=\"7\" title=\"Game\" target=\"_blank\" rel=\"noopener\">game<\/a>s is displaying the possibilities that may lie at the intersection of gaming, blockchain, and the virtual economy.<\/p>\n<p>Speaking to Cointelegraph earlier in August, Jenny Q. Ta, founder of blockchain-based social media platform CoinLinked, remarked that NFTs could be the missing link in the quest to disintermediate the internet. According to Ta, NFTs will facilitate content ownership in Web 3.0, creating a whole new virtual economy.<\/p>\n<p>Ta\u2019s CoinLinked was recently acquired by NFT aggregator platform HODL Assets. Following the acquisition, HODL Assets is looking to launch its NFT marketplace service that will also combine e-commerce and social media features.\u00a0<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/corporate-brands-target-nfts-and-adoption-continues-to-skyrocket\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Corporate brands target NFTs and adoption continues to skyrocket &#8221; The nonfungible token (NFT) space is arguably one of the most popular aspects of crypto and blockchain technology. Indeed, NFTs are often the topic of conversation, garnering significant interest both from inside and outside the industry. Such is the growing appeal of NFTs outside&#8230;<\/p>\n","protected":false},"author":1,"featured_media":332311,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDgvMWQwYTg5M2UtZTg2Ni00YTFhLTg3Y2MtMDQyOGQ0ZDIyZTI3LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74894,95118,77456,74355,117],"class_list":["post-332310","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-blockchain","tag-nft","tag-visa","tag-adoption","tag-business"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/332310","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=332310"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/332310\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/332311"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=332310"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=332310"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=332310"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}