Difference between Utility NFTs/Not utility NFTs?

The dice about the future of the NFT are thrown

What is NFT?

“Non-fungible” means that it is unique and can’t be replaced with something else. To give you an example- bitcoin, gold, oil,.. is fungible — trade one for another, and you’ll have exactly the same thing. A one-of-a-kind trading card, however, is non-fungible. If you traded it for a different card, you’d have something completely different.

NFTs are a BIG thing today. Here are few examples of huge companies joining the NFT Tsunami wave: CocaCola, McDonalds, Taco Bell, Rayban, NFL, Gucci

What are Utilizy NFTs?

When most people think of non-fungible tokens (NFTs), they think of their value as lying in their being unique — hence “non-fungible.” But now there is a growing movement to make NFTs usable in several different ways. This movement toward added utility creates a different kind of value proposition for NFTs, on top of their scarcity and collectability.

Coca-Cola NFT
Axie Infinity

What is another usage of Utility NFts:

The most obvious case is the fundraising for non-profit organizations and charities. Selling NFTs can give non-profits access to new sources of funding outside of established channels and help them diversify their revenue-raising efforts. Through the collecting of money connected with each transaction, charities will have a continuous and regular revenue stream. A non-profit organization called “Leyline” raised $60,000 by gathering artists and developers to sell NFTs to help children suffering from cancer get medical supplies.

What is Non-Utility NFT?

JPEG. Imagine this as just a picture that you buy and the price is decided just with a demand/supply and Hype attached to it.

Non-Utility NFT
Non-Utility NFT

What is the usage of Non-Utility NFTs?

The artists have an option to sell their pictures online. Besides this use-case probably just Buy, Sell, Trade.

Unfortunatelly, there is high chance that 95% of all the non-sense JPEGs will drop 99% on their price once the Hype will drop.

We at Swipelux really believe that the only NFTs that do make sense are the Utility NFTs.

This is how the average Non-crypto person is buying NFTs today:

How to buy NFT today.

This is a flow that we have at the Swipelux widget:

We are fiat on-ramp. We have developed a tool for how to buy the NFTs with fiat using a credit/debit card. We could integrate this widget into any NFT platform, so anyone will be able to buy NFTs directly on the NFTs marketplace using Visa/Mastercard.

Let’s build an amazing future together!

Filip Kollert
Co-founder of Swipelux

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Swipelux

Swipelux

Swipelux is a payment gateway widget, that enables the end-user to buy crypto using his credit/debit card.