For this week’s video, we present a very interesting #NFT use case study discussed by Brett Malinowski. Brett discusses how Nickelodeon, in collaboration with Web3 agency Recur, successfully created their own marketplace for NFTs. The video explores the challenges faced by companies in this emerging industry and presents valuable ‘dos and don’ts for organizations.
Brett explains that many newbies to NFT marketplaces don’t fully understand how to buy crypto and use digital wallets. Therefore, he suggests that companies initially set up marketplaces to allow people to make their initial NFT purchases by credit card. This can be thought of as Web 2.5. In addition, Brett discusses how companies should give NFT owners continuing experiences that they can look forward to. That is, after minting, companies should incorporate continuous events in the NFT experience to keep interest in the project high. He explains this was the policy of the very successful Bored Ape Yacht Club project. Brett provides many other practical suggestions, including how to choose the best blockchain for specific project types.