The future of subscription NFTs (and why you should give a s*** in the first place)

The future of subscription NFTs (and why you should give a s*** in the first place)

“Why subscription NFTs?” Web2 subscriptions are rented, not owned. You do not own your Spotify membership. You can not sell it. And due to Apple’s 30% commission, you are also paying “platform tax.” But this is just first inning thinking. Here’s what they’re really capable of.

Feature Unlocks and Exclusives Tesla NFTs that unlock access to premium features. HBO NFTs that let you watch new movies before release. Food Network NFTs that serve up interactive cooking lessons. By attaching scarce perks to NFT-based subscriptions, their value increases.

IP & Royalties Netflix PFPs that puts subscriber’s characters “in the show.” Spotify NFTs that stake to royalties from your most listened-to artists. Crunchyroll NFTs that grant commercial rights to anime IP. NFTs enable each subscription to have unique market value.

Airdrops Disney+ subscriptions that airdrop NFTs of Marvel artwork and Star Wars PFPs. Tidal NFTs that airdrop fractional ownership of music vids. Coinbase NFTs with access to premium market data and NFT airdrops. Airdrops are great for engaging and keeping subscribers happy.

Composability Web3’s killer feature is interoperability. Imagine your Criterion Collection NFT being forked to unlock access to communities of film enthusiasts. Or, a new coffeeshop trying to attract business: “One free drink for holders of Starbucks loyalty NFTs.”

Loyalty Perks A StockX subscription NFT that guarantees drop access to their most loyal customers, and continuously updates the NFT’s metadata to reflect its value. Reward top customers, but allow them to sell their NFT on the open market if they so choose.

The “Team Staking” Subscription A premium Netflix Subscription that only activates when several holders stake together. This could enable access IRL showings or celeb meet-and-greets. It also encourages loyalty as members remain staked so as to not upset their co-stakers.

Performance-Based Subscriptions A Fortnite PFP that doubles as an NFT Subscription where all members get access to exclusive skins and maps, but top players unlock rare traits and exclusive events. The better the player, the more valuable their NFT.

Evolving Passes Apple Health NFTs that update to reflect your exercise routine. Calm NFTs that increase in rarity the more you meditate. Peloton NFTs that grow in value the more you ride. Because NFTs aren’t static, brands can tell stories and add layers of value.

Believe me, these ideas are just scratching the surface of what it is possible. And yes, it is true that we are years from mainstream adoption. But these concepts represent real utility. The kind needed to onboard mainstream users. If you build it, they will come.

Source: twitter/@chriscantino

10 de August de 2022

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