NFT Business models
What non-Art use cases of NFTs can distinguish Cardano as the blockchain of choice for NFT based businesses?
Fund Size: $200,000 USD paid in Ada
Propose a means or way to drive business use cases on Cardano that have NFT usage as a core component and can act as an onramp to the Cardano ecosystem. This can include any business model based on NFTs. Think about how this is implemented at scale drawing millions of users, who, once onboard, can become customers for dApps, tools, DeFi and other services.
This Challenge is about building recurring businesses that incorporate NFTs on the Cardano ecosystem. The more types of NFTs that are circulating on Cardano will increase the utility of Cardano and ADA.
What should be proposed?
Proposals should be framed towards specific use-cases, and the community will know of specific cases where NFTs can be used to solve various problems. Focusing on NFTs in general may be most productive, with a strong focus on business models that rely on NFTs as a core component of most transactions.
Why is it important?
NFTs have the potential to create businesses with recurring NFT use requirements which increase utilization of the Cardano blockchain.
How does success look like?
Many high quality ideas will be proposed that can substantially grow Cardano’s user-base, network-utility, network-value & ADA circulation.
Key Metrics to measure
- The number of proposals that directly address NFT use cases in a quantifiable manner.
- The quality of proposals measured by community interest and engagement.
- Results of any Fund7 funded projects significantly impacting NFT utility on the Cardano blockchain.