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A Sustainable NFT strategy -Should my business have a sustainable NFT strategy? Companies from across the globe have entered the NFT competition to reinvent their brand and get closer to unexplored prospects by investing in innovative NFT strategies. Non-fungible tokens (NFTs) are the most recent instrument for demonstrating how worth and currencies are evolving in the digital era. They are very precious and have piqued the interest of investors, art collectors, gamers, and technology aficionados all around the world. Many organizations have already been taking notice, to solidify their position as industry leaders. The true promise is that NFTs will serve as the foundation for a sophisticated digital consumer relationship. There isn't yet a game plan for entering the NFT industry because this technology is still rather young and continuously changing. Nor ought there to be. Each business should approach this market differently, in line with the distinctiveness of its corporate strategy. Here are three use cases that you may use as inspiration for creating an NFT strategy for your company. Identification and Paperwork Personal identity management is one area where NFTs excel, although this kind of application is still in its infancy. NFTs can already be used to tokenize documents like contracts, financial documents, licenses, and other credentials as well as every business as they are archived in a database with a specific set of information. As an NFT that can be linked back to the owner, the identification or certification may be immediately issued through the blockchain. Therefore, using NFTs to digitally store and safeguard client data, including their interactions with your company and transaction history, might provide your firm more control over created data and aid to thwart identity theft and online impersonations. Domain Name Registration You can manage your domains using private keys in a blockchain domain system. The regulation of domains often prompts questions about the security and censorship of the names. These worries are lessened by the fact that blockchain domain names are permanently stored in a public registry and cannot be changed or removed by a third party. Blockchain domain NFTs allow for simple trading and programmable domain names. Crypto addresses comparable to an Instagram or Twitter handle are provided through the Ethereum Name Service (ENS) and Unstoppable Domains, decentralized alternatives to the conventional Domain Name Service (DNS), although each name must be distinct. Users of Instagram and Twitter cannot sell their identities, but they may purchase and sell crypto addresses on ENS and Unstoppable Domains. Of course, prizes for the more popular and highly demanded names are greater. Supply Chain and Logistics NFTs' primary role in the supply chain is to authenticate items and guarantee, verify, and ensure their quality and provenance. Although still in their infancy, NFTs on the blockchain is suited for logistics applications because to their immutability and transparency, which maintain the authenticity and dependability of supply chain data. Knowing where the items have been and for how long is essential in the food and other perishable sectors. NFTs prevent counterfeiting, assist in tracking the flow of items across the supply chain, and guarantee uniqueness. For supply chains for high-end fashion brands, this might be relevant. Of course, this would aid in cost control for your business. According to research, any successful NFT project will accomplish at least one of the following three objectives: a) Drive revenue b) Deepen customer engagement c) Streamline business procedures So, what’s your company waiting for? Give a call, let’s start strategizing with us #KnightandBishop on NFTs.