As commerce changes to better suit digital ecosystems, brands are finding themselves in fierce competition to garner attention from consumers. It’s no longer enough to be familiar, offer good products, or have a catchy slogan. Consumers want brands to do all of that and more; to remain a part of the conversation, brands must actively seek innovative ways to engage with consumers.

When smartphones and ecommerce were first on the rise, consumer experiences tended to be either physical or digital. Today, many brands have realized you can do both, especially when two-thirds of Millennials pick up the products they order online. As technology changes how customers and businesses interact, brands must lean into “phygital” experiences to find their audiences and grow.

Research institutions don’t hold back when publishing lofty future valuations of the NFT (non-fungible token) industry. One such report puts the 2030 valuation of the NFT ecosystem at over $211 billion.

What should the layperson or a non-web3-native business exploring NFTs make out of that number, except that it's a huge one?

Will the valuation be driven by exotic art pieces selling as NFTs? Or will the hyperactive communities of gaming NFTs pump NFT prices to that valuation? And above all, what should a brand or user bet on?

The rise of artificial intelligence (AI) and blockchain networks is transforming everything about how businesses and individuals use the internet — from data management to cybersecurity. Today, however, the greatest opportunities lie in bringing these fields together. With enhanced scalability, optimized smart contracts, and truly decentralized autonomous organizations, blockchain and AI technology are expanding our capabilities in ways that were difficult to achieve apart. Let’s take a closer look at the challenges and opportunities for tech businesses waiting at this juncture point.

People like practicality. We drive practical cars, live in practical houses, and purchase practical clothing. We gravitate to objects that can streamline and perform tasks for us, and the scope of utility has grown alongside technology. Utility NFTs (non-fungible tokens) have made it possible for digital art to have practical benefits, and the result is a game changer for business and culture.

The decentralized web — also known as Web3 — gives everyday people secure ownership of their digital lives through the blockchain. Forward-thinking brands are shifting to this new digital frontier, positioning themselves in a consumer market expected to reach nearly $3 billion in 2023.

Humans have always valued utility. From developing stone tools to perfecting animal husbandry, our ancestors crafted technology that creates value by making life easier — or, sometimes, simply more interesting. Look around, and you’ll find that we’ve never lost that mindset, it’s just evolved. Nowhere is that clearer than NFT projects with utility, which show how the Web3 internet is helping people and businesses connect.

Most of us first learned about NFTs (non-fungible tokens) because of their relation to digital art, but the technology is capable of much more. NFTs that function as utility tokens act as a gateway to the new possibilities afforded by Web3 technology. By embracing utility NFT benefits, brands will be better equipped to engage audiences in any industry, from music to apparel and beyond. Let’s dig into some examples of successful NFT projects and how you can implement their lessons into your project.

Maybe your entertainment brand has already dove into the deep end of NFTs (non-fungible tokens) with a range of artist and community collaborations. Or maybe you weren’t convinced by the early days of NFTs and observed from a distance instead. Either way, the still-young technology has steadily redefined public perceptions of scarcity and value in ways no one expected. But now that it’s integrating with another technology that promises to redefine how we work and play, it may be time for your next (or first) on-chain project. We’re talking about AI (artificial intelligence) NFTs.

NFTs (non-fungible tokens) have become a foundational part of the internet’s Web3 future in the few short years since they burst onto the scene. While some still see them as fancy jpegs (or, more accurately, pngs), the truth is that NFTs are much more than digital pictures. With NFT utility, brands can offer unique ways to engage audiences, ranging from proof of ownership of physical goods to access passes for major events. By the time you’re finished with this article, you’ll understand the major types of NFT utility as they exist today.