TBW》NFT Out-of-Circle Key! Fat Penguin Executive Reveals Successful Strategy: Transitioning from Digital to Reality

"Exploring the Future of Non-fungible Tokens: Revolutionizing Digital Ownership, Brand Collaboration" was a speech and sharing event held at Taipei Block Week 2024 (TBW 2024) on December 12th. Three important guests from the Non-fungible Token industry discussed the future possibilities of Non-fungible Tokens in digital ownership, brand collaboration, and mass market adoption. The guest speakers included Legitimate's CTO Daniel Duan (moderator), Cheryl Law, the Asia Regional Director of Pudgy Penguins, and Jonathan Mui, Co-founder of Moongate. Their discussions covered the value exploration of Non-fungible Tokens in physical applications, brand strategies, and the integration between the Web2 and Web3 ecosystems.

Image source: TBW 'Exploring the Future of Non-fungible Token' special lecture

How Non-fungible Tokens break the positioning of 'just digital assets'

Cheryl Law said that Pudgy Penguins has successfully combined Non-fungible Tokens with physical products, such as authorizing Non-fungible Token holders to use their IP for the production of physical toys, which have entered large retailers such as Walmart and Target for sale. This model not only allows Non-fungible Token holders to generate income through royalties, but also gives Non-fungible Tokens a stronger physical value.

"Compared to traditional Non-fungible Tokens, this approach allows users to feel real ownership, while lowering the technical barrier to entry, making it easy for non-experts to participate." She added.

Jonathan Mui pointed out that Moongate's Non-fungible Token is a 'key' to unlocking further value, rather than the end product. Many of the brand partners do not hope that Non-fungible Tokens are just simple collectibles, but rather tools that can bring actual feedback. For example, Moongate's platform can assist brands in designing customized Non-fungible Tokens as part of a consumer loyalty program. 'When users can obtain actual rewards or participate in brand activities through Non-fungible Tokens, this model can bring more stickiness and value to the brand,' he said.

Avoid Non-fungible Token related terms: focus on value and application

All three participants agreed that when introducing Non-fungible Tokens to Web2 companies, mentioning too much about blockchain or Non-fungible Token terminology can lead to misunderstandings or concerns from legal departments. Cheryl shared, 'We prefer to describe it as a digital collectibles platform and showcase its actual benefits, such as revenue growth, cost savings, or increased consumer engagement.' Jonathan added that when companies see the business value supported by specific data, rather than just technical terms, the collaboration process tends to accelerate.

This strategy not only helps to shorten the business negotiation cycle, but also allows brands to focus on the actual use of Non-fungible Tokens rather than the technical background. Cheryl emphasizes that in the Asian market in particular, brands are more concerned with the practical applications and marketing effects brought by Non-fungible Tokens, rather than the underlying Block chain technology.

The Future of Non-fungible Tokens: Physical Applications and Brand Collaborations

Looking ahead, Cheryl believes that the non-fungible token (NFT) industry will further move towards application models closely integrated with the real world. She pointed out that NFTs dominated solely by technology will gradually be phased out, while projects that can provide real value will stand out in the market.

"We see a growing demand in the market for real-world applications, from toys and fashion brands to consumer loyalty programs. The value of Non-fungible Tokens will no longer be limited to the digital world, but will extend into real-life."

Jonathan also mentioned that the success of the Non-fungible Token project will rely on deep collaboration with major brands, especially in terms of user engagement and brand loyalty improvement.

When Non-fungible Tokens can help brands establish a deeper connection with consumers, this will become the core embodiment of their value.

Daniel Duan added that the future development of the Non-fungible Token industry will also involve exploring broader cultural differences and market demand. For example, how to develop customized strategies for users with different characteristics in different regions will be the key to whether Non-fungible Token projects can achieve globalization.

The entire discussion shows that Non-fungible Tokens are no longer just a symbol of digital assets, but also a tool that transcends technological and commercial boundaries. With the deepening of physical applications and brand cooperation, Non-fungible Tokens are redefining the possibilities of digital ownership and business models in a new way.

【Disclaimer】There are risks in the market, and investment needs to be cautious. This article does not constitute investment advice, and users should consider whether any opinions, views, or conclusions in this article are suitable for their specific situation. Investing based on this is at your own risk.

The key to the success of 『TBW》Non-fungible Token going mainstream! Fat Penguin executive reveals successful strategy: transitioning from digital to reality』 This article was first published in 『Crypto City』.