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Innnovation Advice

The Future of Ownership is Going Digital

Updated: Dec 2, 2022

As a Cube insider, you'll get access to interesting new trends, what we think about them and how you can benefit.

New Trend: Early Adoption and Market Growth

In 2021 and 2022 Corporate America saw many Fortune 500 companies like Meta, Microsoft, Alphabet and more begin to invest billions into Web 3.0 / Metaverse projects and domain rights. Additionally many of the same companies, as well as others, began to dabble with digital ownership in the form of NFTs. The current direction of business ventures is becoming more and more digital as the next generation of consumers and employees have grown up immersed in the digital world of gaming, social media and online transactions.

Fortune Business Insights wrote in 2021 the size of the worldwide Metaverse market was estimated at USD 63.83 billion. The market is anticipated to expand at a CAGR of 47.6% from 2022 to 2029, rising from USD 100.27 billion in 2022 to USD 1,527.55 billion.

According to experts, Non-fungible tokens (NFTs) will undoubtedly play a large part of digital ownership in the coming years of the Metaverse expansion. Already NFTs have generated over $17.6 Billion in total sales in 2021 with an expected growth rate of 200% year over year.

Benefits of digital adoption combine multiple areas of integrated opportunities.

  • The Metaverse will combine many areas of business from Marketing and Ads to real estate and retail, along with many more. Early adoption of business branded domains will parallel the importance of Web 2.0 website domain names.

  • NFTs offer digital ownership on blockchain technology, which have become increasingly more popular with the rise of microtransactions whose size is expected to grow from $59.49 Billion in 2021 to $67.60 Billion in 2022 at a compound annual growth rate (CAGR) of 13.6%.

  • Ownership of digital assets can be great company wide or individually to add to a portfolio of assets. If you’re looking for a unique gift this holiday season for employees or friends, an NFT may be something worth looking into.

New Insight: 2022 Gifts: NFTs are in; Ugly Sweaters are out

In today's economic climate it's not surprising that companies like Taco Bell and Burger King would offer NFTs to the public or as a rewards system with their ever growing popularity. Large retail based companies like Nike, Adidas, Sony and Chanel also offered NFTs to their clients representing the item or items they had purchased.

However many other companies have taken a different approach to utilizing the digital asset, using them as an employee gift. Last December, a Web 3.0 design company called Figment, gave all 130 employees custom NFTs for the holidays. Their goal was to both add a digit asset to their employees wallet as well as help expand their employees knowledge and awareness of the blockchain asset.

Following suit, ORAI, an artificial Intelligence company also gifted all its employees NFTs this past March as recognition for their hard work.

New Action: How to gift an NFT

  • Learn more about digital assets and Blockchain

  • Explore what NFTs are available

  • Select or create an NFT based on the recipient

Gift an NFT using the steps below

  • Get the Recipient's Public Wallet Address

  • Open Your Cryptocurrency Wallet That Holds the NFT

  • Prepare the NFT Sending Transaction

  • Double Check the Details and Send

  • Verify Receipt on the Blockchain

Sample of companies working in customized NFTs:

  • INORU INORU is a tech stock of professional expertise in NFT trading marketplace, IDO, and other crowdfunding platforms, gaming, real-estate, metaverse and more.

  • Blockchain App Factory Blockchain App Factory was one of the original blockchain and cryptocurrency service and development companies to come to market.

  • AppDupe AppDupe specializes in costume built blockchain applications like, DeFi, NFTs, NFT Marketplaces, Crypto currencies as well as specialized makreting.

  • Chaincella Chaincella is one of the pioneers in the domain of NFTs. The company focuses on NFTs platforms tailored for business.

  • TurnkeyTown TurkeyTown is a blockchain development company focusing on NFT customization and solutions as well as cyrptosphere marketing.

  • Orion eSolutions Orion Esolutions is software engineering company with specialty in software and web 2.0 / 3.0 design.

  • PixelPlex PixelPlex is an innovative start up working in Blockchain development and management as well as artificial intelligence and ‘The Internet of Things.’

If you're interested in learning more about how Metaverse and NFTs can positively impact your business or portfolio, we can help you evaluate the market and determine the best next steps. Contact us today!

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N³ Innovation does not endorse the organizations or products mentioned in this newsletter. If you are interested to learn more, contact us today for a full landscape and targeted solutions.


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