The NFT market saw a large boost in 2021, which made NFTs one of the most talked-about topics for the proverbial office water cooler chat around the world. The insane amount of money associated with it, makes it one of the fastest-rising assets during a time when the COVID pandemic had caused central banks to hemorrhage money at an insane rate. That was earlier last year. Fast-forward to today’s world and it’s clear that just being a cool picture is not enough to be a successful NFT project and one that rewards the owners. Today’s NFTs have gotta have more substance in order to keep the interest and value rising exponentially. This brings us to the next phase of the NFT evolution: NFTs with legit Utility.
This is the forefront where new projects like The Royal Society shine and set themselves apart from the rest. We’ll take a look at how Utility NFTs like The Royal Society came about, why we need them, what drives the demand for these collections, and how they’re disrupting certain parts of society in a good way.
Within most of us, there is a desire to own and even begin to collect the things we like. Whether it’s sports cards, model figures or cars; we all want to share what we like with others, whether it’s simply basking in the joy of sharing or that it carries the underlying desire of showing off. When what we like/collect gets validated by others around us, that thrill of having made the right decision before everyone else can be as intoxicating as a feeling gets. This is the feeling that owning a Royal Society NFT in the early stages can deliver. This collection is working on expanding its use-cases each and every day. Something most projects dont even think about or commit much time to.
Why is it so special to own a piece of a collection that is a one of one and no one else has the original aside from you? For example, there are millions of copies of the Mona Lisa existing around the world in people’s homes, yet no one is asking to come see that copy of the original. Whereas the one hanging in the famous Louvre museum is still a major attraction because it is the absolute original and no copy out there holds the same value as that original. If the absolute worst case scenario happens and the Louvre ever has a fire or flood situation, I’d bet each and every one of my crypto tokens that the Mona Lisa would be at the top of their to-save list.
On the other hand, “What other benefits can I get from this NFT piece other than owning it?” looks at NFT usage in a slightly different light. The short and simple response is: it’s essentially a key that opens many doors purley because you own the piece. Owning for example a Royal Society utility-based NFTs is like having a membership card to an exclusive club. Holders gain access to a myriad of activities reserved for members. These include private events/parties, token airdrops, early access to new collections, article publication opportunities and metaverse perks. These utilities are something that the Royal Society has been building for some time now in order to be a top dog in this space and eventually offer more utility than any other project out there. This will only push other projects to do the same which will only further the growth of the entire space.
In a sense, there’s nothing new needing to be invented here. Lots of companies throughout the years have included a membership program that gives their members certain exclusive privileges. In this current digital age, of course it makes logical sense to have a digital version of a membership card rather than hand held plastic. So how can NFTs and projects like The Royal Society put a new spin on a well-known operating model?
In a society where exchange values are prized over experiential value, projects like the Royal Society seek to marry both by combining artwork with world-class utility. From a simple digital artwork, to being the key to opening all kinds of doors or the potential to resell the NFT at a large profit, The Royal Society’s NFT versatility promises a not-so-far future where it will quickly become part of our everyday lives. From social impact to selling more stuff, this piece of tech has the power to change the way we engage with one another, whether as a consumer, collector or creator. What’s even more exciting is that we’ve only just scratched the surface of NFT’s utilitarian function. As with everything in the crypto space, developments are happening at a dizzying pace and The Royal Society is spearheading the way for developing NFT projects that bring loads of value aside from just the art itself. While NFTs have been around since 2017, the speed of development in the past year until now can truly be described as exponential. It is feasible to believe that there will be more ideas and initiatives in the future that can further induce more ways for NFTs to become part of our lives and getting into projects like The Royal Society in these early stages can be the key to a successful future, one with more perks than most people know what to do with.
To learn more about the ROYSY collections, click the link here! https://www.royalsociety.world/
To view the ROYSY collection and to purchase some NFT Elite Elephants , click the link here! https://opensea.io/collection/roysy-eliteelephants
To view the ROYSY Whitepaper, click the link! https://www.royalsociety.world/_files/ugd/29ac32_68d7f87fb6474a348b26b00fb32ec5eb.pdf