It might not surprise you if you are familiar with the buzz about NFTs and how much money people are investing in these digital assets. It might even blow your mind. Increasingly, NFTs are selling at higher prices as they become more mainstream. What does this new digital asset mean to the High ticket business? The business applications are still in the early stages of development. Several industries can benefit from NFTs, including music, artists, game designers, and collectors.
Future of High Ticket Businesses & NFTs
Shortly, NFTs are likely to become integral to nearly every aspect of our lives, given their opportunities. As a result, NFT can increase buying power for consumers and provide added security and benefits to High Ticket businesses.
Even though NFTs will still be mainly discussed regarding creative, entrepreneurial, and content creation spaces, the truth is that NFTs holds massive potential for all High Ticket businesses to expand beyond their storefronts and beyond their online presence.
It is an opportunity to connect with your audience in a new way to motivate your audience and protect and enhance your value.
Ocean Of Possibilities for Your High Ticket Businesses
Digital assets can be NFTs, such as art, collectibles, or unique assets used in virtual realms or games. The blockchain-native startups entering this new sector are developing the optimal commercial models for the technology, while established companies explore how to use these assets within their existing High Ticket business models.
Business Use Cases for NFTs
NFTs are typically discussed as a means for accessing events or communities. High Ticket Businesses mainly use NFTs to access events or gatherings. Creating NFTs allows you to create a private, exclusive community of people who can access your services or products.
You can also use it to purchase tickets to events or book clubs or to request access to your calendar or scheduling program to schedule a special coaching session.
You'd also benefit from several other uses, both as a business and as a buyer.
Promoting social good with NFTs
NFTs can be used to promote social good that is of importance to you, which is a more immediate benefit. Using the smart contracts built into NFTs, you can designate any charity or notable cause you would like to support, and a percentage of every sale or resale will go to that charitable cause.
Supply Chain & Logistics
NFTs eliminate counterfeiting, help trace the movement of goods along the supply chain and assure uniqueness. This would be applicable to supply chains for luxury fashion brands. NFTs can also provide information regarding each material and component in a particular product for businesses in manufacturing industries. This could help with cost control. NFTs would also be useful for enterprises looking to track the use of recyclable and sustainable materials.
This is also not something that can be overwritten or altered. The NFT granting access to your coaching community or book club cannot be changed if someone decides they no longer require access and decides to sell that NFT.
You and any other beneficiaries you incorporated into that smart contract will still get a cut of the sale, as will the charity or cause you coded in there.
The smart contract is irrevocable.
What Blockchain Technology Means for High Ticket Business
Several companies have adopted blockchain technology as part of their High ticket business strategy.
Blockchain offers advantages over traditional data storage methods that are driving this trend. Among these benefits are immutability, decentralization, and transparency.
Data records and transactions within companies are increasingly secured by blockchain technology. Due to blockchain, all interactions between multiple entities in an ecosystem are recorded in one single place. Due to the immutability of a Blockchain, all transactions are verified by the entire network rather than by just one party. It reduces the likelihood of fraud, mistakes, or theft.
Conclusion
From a customer experience perspective, it seems evident that NFTs are a true disruptor and that a wide range of industries will be able to take advantage of this technology. It's not only getting bigger. It's getting closer, as evidenced by the collaborations between tech startups and established enterprises with vast intellectual property. NFTs are likely to remain a central pillar of the internet's future as it evolves and the digital world prospers, despite price volatility.
Rocky Santangela is the CEO of the High Ticket Group, the founder of Prospectors Ai and the creator of the ERC 721 GOD token on the Ethereum blockchain. He writes and curates content on the future of high ticket businesses relating to Web 3 applications and developments, NFTs, Ai, Robotic Process Automation, Business Modelling and Cybersecurity.
Comments