Straight Fire creates the Future of NFTs
The birth of Straight Fire
It is still early days for the Metaverse.
In the past few years, many projects were started to upgrade blockchain infrastructure and DeFi ecosystems. In parallel, companies started to build more and more applications to show the massive upside of using blockchain and smart con- tracts. NFTs turned out to be the most prominent and promising opportunity during the second half of 2020, attracting new users into the Metaverse. And with new applications and users came new challenges and opportunities.
Although we are convinced that digital assets are the single biggest opportunity in the Metaverse, most of today’s NFTs lack provenance, have limited utility and are often produced by amateurs, and therefore have little value. This means that the NFT ecosystem needs an upgrade, or otherwise the market is doomed. And we are not alone in thinking this. The media, general public and even blockchain investors have been highly critical of the existing NFT ecosystem. But fret not: Straight Fire is here to create the future of NFTs.
Straight Fire creates the future of NFTs
It is quite a bold statement to claim that we are here to create the future of NFTs. So, how are we different from existing NFT creators and marketplaces?
With a background in luxury goods, culture and media as well as the creative industry, we are used to creating real value through storytelling and shaping provenance, which happen to be the main ingredients missing in today’s NFTs. Therefore, we made it our mission to change this. And while we are at it, we will develop NFT categories that nobody has ever even thought of.
New NFT marketplace
And because the existing NFT marketplaces offer tons of invaluable, single NFTs with limited applications that are bought by predominantly speculative crypto enthusiasts, we must also build a new marketplace. Our Web 3.0 platform only caters to NFT enthusiasts, who want NFTs with real value and unlimited applications. After all, in the future, NFTs will be bought to collect, use and keep, not just to trade.
New NFT showcase tool
To top it all off, we will develop a unique NFT showcase tool that enables creators and buyers alike to display their NFT collections in a personalised, virtual environment that is accessible to invitees. After all, NFTs should not just be stored in your digital wallet; They should be shared and enjoyed by as many people as possible.
New NFT customers
Many of the current NFT buyers are speculative traders, which makes sense, because most of the available NFTs have been developed for trading. We are convinced that NFTs with real value and new applications will appeal more to collectors than to traders. This will be a clear sign that the NFT ecosystem is stepping out of its infancy.
The NFT 2.0 ecosystem explained
So, if the NFT ecosystem needs an upgrade, what will it look like? And who will benefit the most?
In the NFT 2.0 ecosystem, brands, IPs, as well as professional creatives will play a crucial role. Why? Because they are the original creators who are able to combine scarcity, utility and provenance, and develop NFTs with real value. Now is the time to deliver on the promise that creators will benefit the most in the decentralised blockchain environment. Therefore, we give them the opportunity to sell their NFTs in our marketplace.
And we do not stop there. We also produce our own NFTs: the SFIRE Originals. This is how we develop these fully unique digital assets.
First, we select the most exciting brands and IPs and match them with the best professional creatives and our production team. Let’s call them ‘the dream team’. Then, supported by big data, we develop creative concepts that are in high demand with our target audience. Let’s call this ‘the brief’. Finally, the dream team uses the brief to develop the most valued, sought-after and unique NFTs in the Metaverse.
Brands and IPs
Many brands and IPs have a vast catalogue of digital creativity and most of them produce more and more digital content every day. Straight Fire helps them turn their digital creativity into NFTs and monetise existing digital content. Obviously, we will also work with brands and IPs to develop new and exciting concepts that not only generate additional income, but really should be part of any company’s branding strategy. Brands and IPs can now promote new products and services through creating NFTs, attract new customers and make money, instead of spending it on social media campaigns, for instance.
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