Fincredible MacroTalk January 12: NFTs Attracting Corporate Interest
Management commentary on NFT's from $ZDGE $GME $CTK $EA $ACN $DLPN.
Interest in NFT's has been rapidly growing over the past year. According to Google Trends data, the amount of worldwide searches for the topic "NFT" is slowly catching up to the topic of cryptocurrencies.
For those unaware, NFT stands for non-fungible token. These are unique digital codes stored on a blockchain, that can be associated with digital files like photos, videos, audio, and much more. NFTs basically work as a public certificate of authenticity or proof of ownership of a digital file.
Several companies have started to look into NFTs and how they can monetize the rising interest from consumers. In this post, we've gathered quotes from recent company earnings calls on NFT's.
All quotes are sourced from Fincredible.
NFTs
"Tomorrow, we expect to start rolling out our NFT offering called NFTs Made Easy in the Zedge Premium marketplace for both Android and iOS. Our approach to NFTs allows Zedge premium artists to create and sell NFTs to our users without being cryptocurrency experts. Our users are able to purchase NFTs in the same manner as they have always purchased any item in Zedge Premium, mainly by buying and spending Zedge tokens, our existing virtual currency which are available in the Zedge app through in-app purchases. NFTs Made Easy have disruptive potential because we've simplified the process for artists to self-publish mint and sell their NFTs. We do not charge minting or gas fees to artists, and they are paid in their local currency. For consumers, it is just as easy. NFTs are purchased with Zedge tokens as in-app purchases through the Android Play or Apple App stores in their local currency. Cryptocurrency knowledge and wallets are not needed. At launch, we are starting with video wallpapers from a select group of artists. And over time, we expect to expand across different content categories and make this functionality available to all Zedge premium artists. We also expect to enable additional capabilities such as limited editions, drop dates, auctions and trading. Stay tuned for further announcements in 2022."
Jonathan Reich, CEO
"We are also looking into the potential disruption that NFT could bring to the entire content industry. So, we believe that NFT brings new opportunities for us to benefit our content ecosystem and expand the monetization. So, our internal metaverse working group is integrating a product, which tokenize digital books and the visualized virtual items of the books, such as the dresses, props, weapons, castles and so on and so forth. So readers who are fascinated by the book get a chance to collect and trade those in NFTs.So, this NFTs will be tradable within or outside of our app. So as long as the book gets more and more popular, the NFT holders enjoys the appreciation. One day a new game is produced on top of the story, the book's storyline, they can bring NFTs to the game to play and trade. So with the emergence of metaverse, we believe that we are well positioned to leverage our two dominated business to create synergy and expand our success."
Kan Zhang, Chairman, CTO
CooTek (Cayman) Inc Q3 2021 Earnings Call
"In terms of scaling, you can see that this type of product is very exciting for us. The idea of a community-based NFT system, sell 10,000 memberships, if you will, and get a whole bunch of cool stuff. We think that plays to our strength. We can program the cool stuff part. If you're interested in animation, graphic design, who better than somebody like an Anthony Francisco to do master classes with, to program around. Imagine if we did special streams of any of the movies that Anthony has worked on and talk to behind scenes, what he did for them and some of the story decisions. Imagine, sweep stakes and prizes that result in all expense paid trips to Comic-Con, where we have teams of people at every summer. You can imagine, we go to other verticals, whether it's music, movies, television, sports, what we can do, we're already at the Grammys, the Emmys, the Oscars, the Super Bowl."
William O'Dowd, President
"We are also working with clients to help explore and shape their early forays into the metaverse through new digital experiences enabled by virtual reality and responding to their interest in new products enabled by NFT, or non-fungible tokens, new ways to conduct commerce as the metaverse take shape. Many of these client examples reflect our goal to create 360-degree value."
Julie T. Spellman Sweet, CEO
"During the quarter, we focused on expanding our selection, accelerating delivery speeds and improving the customer experience. We also made long-term investments in our infrastructure, talent and technology. We believe our emphasis on the long term is positioning us to build what will ultimately become a much larger business, relative to where we are in 2021. We've also been exploring emerging opportunities in blockchain, NFTs and Web 3.0 gaming."
Matthew Furlong, President & CEO
"As we think about digital collectibles, particularly in our sports games, again, it's different across different franchises. And so collectibility has different value over time. and collectability in games like FIFA and Madden and NHL is really built on driving value through the traditional sports season. I think your question is, is there an opportunity, particularly as we think about NFTs and other digital ecosystem to expand that value over time. I think the short answer to that is yes. I mean the slightly longer answer to that is we need to work and make sure we continue to appropriately tune and balance the experience for our players, and we're always looking to give our players more value in the experiences they enjoy, and you are seeing that based on the growing engagement in the game and a growing spending, they're getting that value. But we will continue as we have evolve the ultimate team experience over the last decade, we will continue to look for ways to add value for our players."
Andrew Wilson, CEO
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