Brand loyalty and DeFi: how the NFT segment will develop in 2023

Experts believe that next year, non-fungible tokens (NFTs) will become an engagement driver for brands and bring a new audience to the NFT metaverses – unique tokens that record the origin and history of asset ownership on the blockchain. And although this market segment is going through hard times right now, several key industry players still believe that 2023 will bring new opportunities for it and return the interest of the community. NFTs Will Help Brands Migrate into the Metaverse Corporate growth consulting firm Forrester predicts that NFTs will be the most important point of contact for brands in the Metaverse in 2023. The vision of the metaverse is not yet fully defined, let alone its creation.. Venture capitalist Matthew Ball offers the following definition in his book: “A massively scalable and interactive network of 3D virtual worlds rendered in real time that can be asynchronously and continuously experienced by a virtually unlimited number of users with an individual sense of presence and continuity of data such as identity, history , rights, objects, communications and payments”. In 2023, brands' metaverse ambitions are likely to grow steadily. And companies like Samsung, Nickelodeon, Gucci and Nike will continue their Web3 expansion to stay relevant and attract new customers. Exclusive perks for NFT holders At the 2022 NFT.NYC conference in New York, director of advertising agency Mekanism Jeff McDonald said more brands will offer exclusive perks for token holders.. A prime example here is the Starbucks coffee chain, which launched an NFT-based loyalty program.. Or entertainment giant Nickelodeon, who bet Rugrats nostalgia would bring cartoon fans to Recur Forever Inc.. Nike is the farthest-reaching apparel brand. The company is using a futuristic hybrid model that allows physical sneaker wearers to equip their avatars with the same gear.. This technology is likely to become widespread, and Polygon will be the most attractive solution for its implementation. NFTs also offer marketers new channels to monetize and promote products.. Thus, the Pringles chips manufacturer released a tokenized video as part of the CryptoCrisp collection.. And the international chain McDonald's launched an NFT collection in the US in honor of the return of McRib. DeFi Lending with Non-Fungible Tokens As enterprise investment becomes more widespread in 2023, NFTs will see more use in decentralized finance (DeFi). The authors of the book DeFi Beyond Bitcoin: Decentralized Finance and the End of Banks, Stephen Boykey-Sidley and Simon Dingle, believe that users will soon be able to deposit NFTs into the liquidity pools of decentralized exchanges, take cryptocurrencies against the token and invest in other income-generating products. . At the moment, some sites already offer loans secured by NFTs.. The NFTfi platform, for example, pays out loans in ETH, and the non-fungible token passes to the lender in the event of a borrower default. Another major innovation could be NFT-based credit scores. Earlier this year, Charles Hoskinson highlighted the importance of creating a decentralized identity that is designed to unlock the economic potential of those excluded from traditional financial services. Disclaimer All information contained on our website is published on the principles of good faith and objectivity, and for informational purposes only.. The reader is solely responsible for any actions taken by him on the basis of information received on our website.