Las Vegas billboards near Raiders Stadium and Town Square.
Who are notable cryptopunk owners? What's next? Visa
, Serena Williams
, & Gary Vee
[individuals that are essentially organizations], all currently own punks. Other high-reputation NFTs besides punks also have notable buyers
behind them. Sports teams, major brands, and anyone with fans are the next to buy in.
Non-Fungibility is a huge feature for brands. If Jay-Z owns one gold bar (a fungible asset), it carries the same value as a gold bar that we own. A punk (a non-fungible asset), however, gains value from the holder's unique influence and reach - Jay-Z's cryptopunk will be worth more simply because he once owned it. A brand-owner's punk gains a one-of-a-kind value imparted by the owner; therefore, their cryptopunks (or other high-reputation NFT) become unique stores of value that correlate with their own influence as a brand.
Major brands using NFTs to build and activate community. It's a new way to reach fans and create experiences while building value. Using a portion of their marketing spend, brands acquire an appreciating asset (a high-reputation NFT), and their fans will evangelize and market the brand for them (especially so if they own pieces of the fractionalized NFT or a derivative).