Why Phygital Matters
NFT (Non-Fungible Tokens) had its boom during the pandemic and slowly lost interest due to its bad press in mainstream media. The main reason for the downfall is the lack of value or functionality of the NFT itself.
So is this the end of NFT?
No. I believe it’s just the start of the Phygital NFT wide adoption in the retail market.
So what are Phygital Assets?
Phygital assets are a combination of physical and digital assets that are used in the world of finance and investment. These assets can include things like digital currency, art, real estate, and collectibles, among others.
One of the main advantages of phygital assets is that they offer investors a way to diversify their portfolios and potentially increase their returns. For example, a person who owns a physical property like a rental property can also invest in digital assets like cryptocurrency. This allows them to potentially benefit from the growth of both the physical and digital markets.
Another advantage of phygital assets is that they can be easily bought and sold using online platforms, which makes them more accessible to investors. This is especially true for digital assets like cryptocurrency, which can be bought and sold using online exchanges.
However, there are also risks associated with investing in phygital assets. For example, the value of digital assets can fluctuate significantly, and there is always the risk of cyber attacks or other security breaches. It is important for investors to do their own research and be aware of the potential risks before investing in any phygital assets.
In conclusion, phygital assets are a combination of physical and digital assets that offer investors a way to diversify their portfolios and potentially increase their returns. However, it is important to be aware of the potential risks before investing in any phygital assets.
Okay I understand the importance of phygital assets what next?
One of the projects that I am recently interested in would be the platform called clubrare.
This is how they describe themselves on their homepage
ClubRare is creating a community-led commerce ecosystem blending physical goods with experience-rich metaverse goods and NFTs.
So their marketplace looks like this:
They technically enable you to buy NFTs that are connected to high-ticket physical goods (ie: Limited Edition Nike Shoes) with Crypto Assets of the seller’s store.
This presents 3 upsides to buying and selling NFTs on this platform.
- All Partnership products are vouched by the creators for their authenticity.
- You don’t have to worry about managing your high-ticket items because the platform will keep them for you until you request to redeem the item.
- This also presents a good opportunity for crypto arbitrage due to its static pricing.
Bottomline: it’s the easiest way to manage and resell high-ticket items!
That’s about it! if you are interested in further joining this clubrare community please check my next post on how to join Club Rare’s DAO (Decentralized Autonomous Community).
Meanwhile please check out these links which would be very helpful in understanding my next post!
AGOV — community is empowered to vote to determine ClubRare’s major policies and brand partnerships and can trade exclusive Phygital NFTs at ClubRare.
MPWR — ClubRare’s core utility token for building the Phygital
Metaverse ecosystem as well as the main currency for the
ClubRare Metaverse.
