Massive opportunities for Ordinals and NFTs

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NFTs are in a bearmarket. Where Ordinals provided a positive vibe, we are not yet back to the old days. Therefore, bringing good news and innovations is not a bad idea.

Many people say NFTs are dead. But nothing could be further from the truth, in the background there is solid development and various sectors are seeing opportunities. That promises opportunities for retail, such as authenticity assurance, exclusivity, and increased customer loyalty.

Table of Contents

• Reputation

• Starbucks

• Loyalty

• Quick stats

• Certificates of authenticity

• Soulbound tokens

• Ordinals

Reputation

NFTs have recently gained a bad reputation. Many people perceive them as nothing more than overly expensive pictures of monkeys. However, it's important to view them from a broader perspective.

Many artists who previously lacked a platform to earn income now have one. It's not just YouTubers who can make money; artists who embrace technology can also benefit financially.

Starbucks

But the technology has much more to offer. One of the world's most successful loyalty programs, that of Starbucks, for example, issues digital collectibles based on NFTs. Starbucks Odyssey, the coffee chain's Web3 loyalty program, launched its very first collection of 2,000 limited-edition NFTs called Stamps last March. The Odyssey program is currently in beta phase and is accessible by invitation only. Members are invited to complete activities, quizzes, and in-store purchases to earn Stamps.

They and many other major brands, from Porsche to Nike, also realize that the consumers of the future will primarily want to have digital collectibles.

In the United States, it has also become increasingly common for sports clubs to sell digitally captured moments of the game. Think of a great dunk in the NBA. “That has already generated more than a billion dollars.

Loyalty

The strength for retail lies primarily in combining various possibilities around engaging and rewarding loyal customers. So, it's not just about dropping a collection of digital collectibles in a community, but using the technology to further connect customers to a company. For example, by giving them more say, as is already happening in football. Various major international football clubs, as well as a club like Fortuna Sittard in the Netherlands, issue fan tokens, which give fans voting rights. With these tokens, fans can periodically authenticate themselves online on the web and have a say in matters concerning the club.

Quick stats

Certificates of authenticity

Another application is the combat against counterfeit items. An example of this is Aura, the blockchain platform used by all LVMH brands, such as Louis Vuitton and Gucci. They create an NFT for each physical product, allowing owners to verify if they possess an authentic item.

For example, could this be what medicines??

Soulbound tokens

More and more things are being digitalized and tokenized. 'Soulbound tokens' are NFTs of important documents like diplomas. Or tokens that grant access to both physical and virtual spaces. For the Amnesia club in Ibiza, NFT owners, for example, get lifelong access to the VIP deck of both the physical club and its digital counterpart in the metaverse.

Ordinals

Returning to Ordinals (which you are most interested in), the biggest difference is that Ordinals are always on-chain. For example, the certificate can always be found and companies cannot simply remove/alter it, which is still possible with other NFTs, as long as they are not on-chain.

Summarizing, there are enormous opportunities for retail in the coming years. Of course, all this sounds fantastic, but we are in the early stages of NFTs. My expectation is also that we won't see groundbreaking improvements immediately. However, the first steps have been taken.

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