How do large companies get started with NFT tokens?

31 July 2021

In 2020, the main interest in NFT tokens was held by cryptoartists, but in 2021 big business is also joining the trend. The first successful cases already exist, and many brands have announced their desire to issue their own NFT tokens. What would such an interaction look like?

Which companies work with NFT?

The most interesting fact in this direction is news from the major online retailer Ebay. NTF tokens can be bought and sold on the site. By the end of 2021, the developers will make the necessary changes to the platform code to support the new product category.
McDonald's Corporation grants relative marketing freedom to all affiliates. The French branch decided to give away 20 NFT tokens. They tokenized pictures of signature dishes.
Magazine publishers are actively involved in the NFT space. The New York Times has released a token for a column titled "Buy This Column on the Blockchain!" (Buy this column on blockchain). I managed to get $ 500,000.
Time magazine has released 8 NFT tokens for its covers. The most expensive were three: "Is God Dead?", "Is Flat Dead?", "Is Truth Dead?" Each was purchased for $ 435,000.
Forbes magazine managed to sell the cover with crypto entrepreneurs Cameron and Tyler Winklevoss for $ 333,000. The cover was titled "Merchants of the Metaverse".
Clothing manufacturers do not stand aside. All major brands have announced their own NFTs. Now the joint project of the RTFKT brand and the art artist Fewocious has already become successful. They sold 600 pairs of virtual sneakers for $ 3.1 million.

NFT tokens from the stock exchange?

The New York Stock Exchange announced its intention to create its own NFT tokens. The collection will be dedicated to the IPO of high-tech companies.

Token prices have not yet been announced, but the launch is scheduled for October 2021. What does this mean for the NFT industry? Obviously, if institutional players pay attention to this market, then it definitely has prospects. Stock exchanges as an institution are extremely clumsy. It takes them several decades to adopt important innovations, and then they get involved in six months. It’s an important sign of the right direction of development.

If you are looking to enter the NFT token market as an artist or collector, now is the time. The OpenBiSea platform has its own auction and the necessary tools for creating NFT tokens in a few clicks. Try it yourself!