OfficialNFT Whitepaper
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Introduction
The NFT ecosystem has been bubbling recently with the likes of celebrities and acclaimed music artists producing amazing NFTs and profiting nicely from them. Celebrities are embracing the NFT ecosystem daily, and minting creative memorabilia for their fans. We have also seen the inflow of big sports and entertainment brands, trying to immerse themselves into this innovative structure. Big NBA teams are minting NFTs for their fans to buy, and at the moment, many of them are thinking of opting for NFT tickets instead of digital or paper tickets for their games.
At present, most of the NFTs sold are focused on digital artworks. Disaster Girl, a popular meme of a girl smiling at some firefighters tackling a controlled fire in a house, was sold as an NFT for $430,000. An artist called Mad Dog Jones sold his NFT piece, REPLICATOR, for $4.1 million. Does that mean that NFTs are meant solely for digital artworks?
OfficialNFT® is opening up a myriad of NFT opportunities to brands and businesses globally. NFTs can be used by companies to combat piracy, create an extra stream of income, and much more with OfficialNFT®. This ecosystem is churning out new ways that brands can key into NFTs to improve their business operations.
A great importance of NFT is that it allows enthusiasts to own and take custody of a piece of their subculture. For instance, the first ever autograph done by Tiger Woods is currently owned by someone. Golf fans will do anything to get their hands on a piece of the autograph, and this would have been possible, assuming it was minted. Imagine if the owner of the autograph decided to mint part of Tiger Woods' “First-Ever Autograph”, on different NFTs and sell them in the marketplace, many golf fans will pay a lot to have a piece of it.
$OFCL is the token powering the OfficialNFT® ecosystem. The token facilitates the buying, selling, and minting process of the NFTs, and other goods and services offered by the OfficialNFT® platform. Some of the use cases of the $OFCL will be elaborated in Part 3.0.
The importance of NFTs can not be overlooked, and this is the most opportune time to maximize its capability and utility.
Last modified 10mo ago
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