GamesHUB #6 | Utility NFTs: The Future of Web3

Meet our Guest:
Jeffrey Kelley

Serial entrepreneur, investor, and creator

With our Host:
Constantin Kogan

GamesPad & BullPerks Co-Founder, Partner at BitBull Capital.

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What is your vision of the utility NFTs and why are they important for Web 3?

To me, the core utility of NFTs is that they’re building blocks of the metaverse and Web3.

The next is NFTs being digital exchangeable assets in gaming.

NFTs are universal in a metaverse sense and are interoperable. That is a game changer.

Based on this, should we expect all future NFT to have utilities to stay competitive on the market?

As we all know, there’s such a concept as collectibles that have been out there since we weren’t even born.

You have passion for something, you want to own something unique, and now with NFTs it’s collectibles with steroids.

You know who’s the source, if it’s authentic, who has owned it before you, and you have a record of a public statement about it. Plus, you have a chance to sell the NFT in a more liquid way thanks to various public and massively adopted marketplaces.

What are other extraordinary examples of NFT use cases?

I love fly fish! Love the idea, and you know, there have been memberships and supper clubs. This is a great use case for NFTs because it can evolve, change, and is tradable in fun and interesting ways. There’s the royalty component and if it is that exclusive and continues to grow that vastly, this will be awesome. There’s such cool applications there.

Now, on the other hand, things like authentication, real estate, identity, medical records, intellectual property, credentials, ticketing, supply chain, voting – these are truly extraordinary use cases.

Another examples that excite me are digital fashion, wearables, and how they intersect with virtual real estate and augmented reality.

What must an NFT project have to be part of the top 1%?

Well, there’s several factors. Definitely, traction with a real amount of value creation is a must. Those who have got that traction, have a formula where they can invest time, effort, relationships, knowledge, and money into it, and get more value out of it on the back end for their community – are the winners.

If a project shows a tru product market fit, we’re looking for that.

The next aspect will be when a project has already crossed that threshold, has a massive following and a huge community that supports them and acts as a resource for a project to accomplish highs.

And, finally, the sustainable vision of the leadership: approach to the future, resources for the team to get there, experience in running successful companies before (not necessarily in crypto).

Can you give our audience some tips on how to choose a good NFT project?

I think people should seek involvement with NFT projects and categories they genuinely care about. And even want to become an active part of those communities to spend time with like-minded people that believe what they believe.

So, my biggest advice is follow your passion, otherwise it’s not going to click for you.

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