Why Utility is such a big word in NFTs today

Not so long ago, NFTs were popular just because of what they offered – a unique ownership of a special item. For some, it was a way to support artists’ work by paying for it; for some, it was bragging rights with their new PFP.

However, with an improvement in blockchain and crypto offerings, holders now expect more: they want to have more than just a picture to their name, so that they can use these art pieces as investments or even as access to various things. This looks like Bored Ape Yacht Club’s entry to special channels that even include celebrities, or VeeFriends’ entry into Gary Vee’s yearly conference. NFTs in the future will no longer just be for collecting, but for the utility it offers: what else holding the NFT can do for holders.

While we’re still on the way there, there have definitely been steps taken to bring us to a world where NFTs give utility and more; some new forward-looking projects have decided to pick up on and maximize their potential by tapping on this trend as well.

A notable one would be NFTv Social’s first NFT collection releasing in Q3 2022 that will be a collaboration between Fashion TV (or better known as FTV) and NFTv, the FTV Pandas Collection. The collection comprises of 9,999 unique NFTs that each hold different levels of uniqueness and earning power, where users will not only have a super cute Panda NFT PFP but also various ways to profit off the NFT and token holding. Each NFT will function as a key to the NFT SocialFi Platform, granting holders not only access to all NFTv clubs, high-end luxury items, airdrops and more, but also earning power through socializing within the ecosystem. They will kick off Phase 1 with the FTV Panda NFTs, then follow up with more NFT add-ons to increase value of the NFTs.

Although many have their doubts, the future of NFTs is indeed bright with utilities coming into play, because owning an NFT no longer just brings you bragging rights, but entry to whole universes and new opportunities to earn and learn!

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