“I just don’t get it.”
"What is the value of it?"
“What type of NFT could I create?”
I had the same questions when I first heard of an NFT. As a creator, the concept made my eyes light up. So much potential to sell designs. But what about the utility function of it?
Ebooks are an option. But why an NFT?
Access
Exclusive Content/Giveaways
Royalties
Access
When you sell an ebook, you can add a clause in the smart contract that the person who buys your book receives a free consultation. If you go this route, it would be smart to limit your quantity to 25.
Exclusive Content
You can also give away exclusive content like a bonus book for free, t-shirt, etc.
Royalties
The best part about NFTs is that they are the gift that keeps giving. Most platforms allow you to set a royalty percentage. The most common percentage is 10%. This means that each time your NFT is sold, you get a 10% royalty. So if your item sells for $100, you get $10. And if it sells for $1,000 the next time, you get $100. And this can go on forever!
NFTs are just beginning to show their value. There will be many more options for businesses in the future. I’ll be sure to share what I find when I find it.