SIX Network Q2 2023 Summary
August 30, 2023
Table of Contents Introduction Welcome to the Q2 2023 recap of SIX Network. This quarter, SIX Network has made impressive progress
The rise of NFTs for Business Development: How SIX Protocol can help utilize NFTs for your business
Table of Contents
In recent years, we have seen a lot of movements on blockchain technology, cryptocurrencies, and NFTs from the business sector worldwide. Many companies are changing their operations by offering cryptocurrency as a payment medium, involving blockchain or NFTs in their workflow and services. Does this mean blockchain technology is becoming more and more popular in the business world?
One thing is certain; blockchain technology exists in a wide range of industries. The more we learn about it, the more we hear about it also.
As SIX Protocol is built to be an infrastructure blockchain layer essential for businesses in migrating their assets onto the blockchain, we will be looking at various ways SIX Protocol can help utilize NFTs for business development.
NFTs across industries
It goes without saying that NFTs can be adopted by businesses from various industries because they can represent many things in the off-chain world, from a ticket to an event, a piece of document, to even a college diploma. With SIX Protocol’s validator node partners being remarkable enterprises from different areas, let’s explore the infinite possibilities of NFTs for each industry!
NFTs with Utility
As NFTs are heavily known for their reputation in generative art, the questions are, how will it fit each industry, and what are the things businesses need to do to unleash the true power of digital assets like NFTs?
Some might say the heart of NFT lies within a project’s utility aspect because it is what holders and communities use to determine whether a project is considered “good” or not.
To paint everyone a word picture, our team at SIX Protocol is bringing you some examples of NFT utility from the different industries as follows:
Music and Entertainment industry — Admission Pass for events
It is time to take events/ concerts organization to the next level with NFTs! At SIX Protocol, we believe that soon, most events, concerts, or even movies will be issuing tickets in the form of NFTs because attendees will be able to verify their ownership of the ticket, which is stored on a blockchain forever.
Let’s say you’re planning to organize a 3 years event; you could consider issuing NFTs that have the utility as admission pass for holders to attend all 3 years while selling a limited amount of tickets to the public to increase the exclusivity of your event. With this, SIX Protocol can help your business figure out the right way to manage the supply and rarity of your NFTs that matches your audience size.
Don’t know whether NFT is right for your business? Don’t worry! With SIX Protocol’s Initial Asset Offering service (IAO), any company can issue tokens in the form of NFTs and cryptocurrency. So, If you already have an eye on blockchain technology, SIX Protocol is ready to be at your service!
Real Estate industry — NFTs vs. Documents
As you know, in the real estate industry, many documents are involved in the process. What if we tell you that your NFTs can replace that?
Since real estate operates around individuals’ ownership of lands, it only makes sense to apply NFTs to the real estate industry as it eliminates human error. However, a business will need to develop a backend system that can ensure the safety of both buyers and sellers.
Suppose you want to explore the possibility for your real estate business to utilize NFTs. In that case, you might want to consider learning more about the SIX Protocol’s toolkits, a set of useful tools that will help your business get access to the emerging world of digital asset investment. We will be returning to this topic for other industries very soon. Please stay tuned for Part 2!
Should your business give NFTs a go?, Working with SIX Protocol, and more
As there are many ways a business can adopt to create an NFT project, it might be challenging at first for everyone to figure out the right direction for their company based on the resources they have available.
If you’d like to find a team that can give you some helpful advice, here at SIX Protocol, we’ll be more than happy to talk with you and possibly your team.
Finding the right network = Finding the right partners
With SIX Protocol’s core structures to bring your business’s services from the off-chain world to the on-chain, plus cross-chain utility, we can help you issue your token to the destination chain and beyond!
Currently, there are many ways your business can join the SIX Protocol, whether through direct contact or as the ecosystem’s one of the validator nodes.
If you want to be a part of a strong alliance with well-known businesses while earning a share of SIX Protocol transaction fees, you can learn more about the benefits of joining SIX Protocol as Validator Node for Business here.
Or contact our business development team at: https://bit.ly/business-node
If you wish to learn more about SIX Protocol, feel free to visit our website here: sixprotocol.com
Khanathat Chowpradith
Web3 Marketer | Passionate Writer | NFTs enthusiast
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