Hosted by Sebastian Rusk, Grit Daily’s Startup Show explores the power of NFTs (non-fungible tokens) and how businesses can leverage this technology to simplify commerce. The show recently featured Niftmint‘s Founder and CEO Jonathan Blanco, who discussed the revolutionary potential of NFTs, which can be used to create digital “twins” of physical objects like receipts. An example is Nike, who used NFTs to create digital artifacts. After the acquisition, NFTs became an integral part of their strategy. Starbucks is another example that has yet to publicly implement NFTs. Sebastian argues that Crypto Tech is better than incumbent tech and that NFTs are better than JPEGs and PNGs. Most people, who may not realize it, will be interacting with NFTs every single day. Grit Daily’s Startup Show is an essential resource for businesses to get accurate and informative advice on how to use Web3 for their brand.
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Key Takeaways:
- Nike’s Use of NFTs as Part of their Business Strategy
- Digital Transformation in the Retail Industry
- The Advantages of NFTs Compared to JPEGs and PNGs
- Exploring the Benefits of Non-Fungible Tokens (NFTs)
- The Dangers of Misunderstanding Web 3 and NFTs
Topics with Timestamps:
[00:03:49] Nike’s Utilization of NFTs for Their Business Strategy
[00:07:35] Transforming Retail through Digital Technologies
[00:11:01] Exploring the Benefits of NFTs in Contrast to JPEGs and PNGs
[00:14:24] Examining the Advantages of Non-Fungible Tokens (NFTs)
[00:18:12] The Risks of Misinterpreting Web3 and NFTs
Notable Quotes:
“So I’ve known Justin Wu since I got into crypto in 2017. He’s actually from Seattle also. We’ve done a handful of events together or supported each other. And I just think he does a really good job. He and his team do a really, really good job of putting on events, talking to, you know, bringing the right people in, having the right topics, no shilling. They just do such a good job. So anything I can do to support DCentral and Justin and his team, I’m always going to do it.”
“Our belief system is that the majority of NFT drops that brands have done is actually the incorrect way for them to offer NFTs to their customer base.”
“We see a world where basically anything that’s physical has a digital equivalent to it. Think of it like a receipt. Not that Nike’s doing that yet, I see them doing that soon. Because even outside of the NFT context, when you get a pair of Jordans or you get a shoe drop, they actually give you, like, this really cool PDF or PNG that says, got them, you know, in a picture of the shoes. So why not have that be an NFT for example?”
“We don’t see the majority of brands offering NFTs to their consumer bases, the same way that we see this from you know, some of these projects that you see here. Because when you think about what an NFT really is, it’s simply just a better JPEG.
“Boring NFTs will rule the world. I believe that everything will be an NFT. Everything will be tokenized.”
