How NFTs are redefining commerce

December 3, 2021 | By Jeannie Hii

Non-fungible tokens are unique digital assets that represent ownership of real-world items. NFTs continue to make headlines as creators and brands tap into new use cases to engage consumers.

With innovation and adoption in the space gaining mainstream traction, we’ve seen the creation of digital equivalents of everything from real estate to art to collectibles, represented by these digital tokens. But the utility of NFTs go beyond collectibles. 

“The power of NFTs is that they can be used for anything,” says Mickey Maher, senior vice president of partnerships at Dapper Labs, the maker of the popular fantasy basketball NFT game NBA Top Shot. “They can access tokens, be connected to different parts of the brand, and unlock exclusive experiences — all kinds of digital and physical things.”

In a new Mastercard Foundry Live session hosted by Raj Dhamodharan, executive vice president of Blockchain and Digital Asset Products and Partnerships, leading futurists from Columbia University Business School, Dapper Labs, Mintable, and Rarible share their perspectives on how NFTs are shaping the future of commerce and what businesses can do to prepare for tomorrow.

Explore more global trends, technologies and market signals defining the future by signing up for Mastercard Foundry’s events, features and reports here.

Jeannie Hii, director, marketing, Mastercard Foundry