Limiting NFTs to digital art is similar to cramming an elephant into a matchbox

  • blog
  • 8 min
  • June 15, 2022

– By Danmazz 

Underneath NFTs are smart contracts. One of the most significant advantages that Blockchain technologies bring to the table is the flexibility of smart contracts and their ability to tie conditions to them. What seemed complicated before is now simple thanks to this smart new tech. Smart contracts are a necessity in the world we live in. We are already surrounded by “digital contracts”. You don’t believe it? Open your wallet and look at all those chip-based cards you have. Think about your e-banking or your Netflix membership. Or more, think about the new skin your 11-year-old bought in Fortnite. All these are types of smart contracts. We just give them different names to make our lives complicated. They use different validation systems, have less transparency, and use different types of technologies. These technologies are completely centralized and in the hands of those who command them. They have the option of changing the conditions. Something that blockchain smart contracts makes impossible!  

Limiting NFTs to digital art is similar to cramming an elephant into a matchbox. NFTs will disrupt every industry without exception. The direct link between smart contracts and blockchain technologies is limiting mass adoption.  

Avant-garde projects are combining the benefits of smart contracts with real-world benefits. When the benefits in real life extend beyond concert tickets, a free dinner at bored and hungry ape, you can already see NFTs offering participation in real-world businesses with real-world profits, which translate into immediate business advantages and cash inflows into your pockets. I’m referring to real money. Not some tokens that rely solely on the issuer’s good will to do a good job. NFTs can be found in real estate projects, music labels, and many other places.  

The NFTs’ crowdfunding advantage for raising funds for real-life project, for start-ups or capital increase is THE hidden gem. NFTs are a financing instruments that provide full transparency between investors and start-ups. An instrument that not only allows you to collaborate with the founders on their vision, but also to participate in the decision-making process, meet other holders and collaborate with them, and have privileged access to merch from that startup.  

Despite the current bear trend in all stock and cryptocurrency markets, the future appears promising and encouraging. The future of those who view blockchain as a solution rather than a speculative tool. This future will provide new opportunities for entrepreneurs to make their mark. For investors who may become entrepreneurs simply by purchasing an NFT. An NFT that provides them with a unique key to resources that the holder is free to use while defining the level of yields desired. The more effort and creativity the more gain. The Puffersquad NFT project by FUGU NATION does just that.  It offers its holders a work to earn environment where the return on their investment translates directly into the physical world. A registered brand with a solid business concept telling its holders; guys we are putting resources together for you to use. Your NFT is your key to kick off your Puffersquad business using the ecosystem put in place for you. That is a first in the NFT space.