Digital collectibles are revolutionizing consumer experiences and ushering in a new era of brand-audience engagement. Forbes has even likened this cultural shift to the technological revolution in 1999.

Ah, the thrilling world of web3! Just when you think you've got a grasp on it, along comes another tantalizing piece of the puzzle to ponder. Enter: Redeemable NFTs. But just like those assorted boxes of chocolates, not all of them are born equal. Before you dive headfirst into this, let's unravel the multiple flavors these digital assets have on offer.

Loyalty programs are the cornerstone of brand-consumer relationships. Evolving over the years from simple stamp cards to sophisticated digital rewards, they have been an integral part of customer retention and engagement.

Non-fungible tokens (NFTs) have fundamentally transformed our understanding of ownership and value in the digital realm. They have found a myriad of applications from digital art and music to virtual real estate, and created a vibrant and diverse digital economy. 

Tokenization might be a relatively new technology but it’s set to be a $16 trillion business opportunity, according to a Boston Consulting Group report. Larry Fink, the CEO of BlackRock, an investment firm managing over $8 trillion in assets, highlighted the immense potential of asset tokenization saying, “The tokenization of asset classes offers the prospect of driving efficiencies in capital markets, shortening value chains, and improving cost and access for investors.” Clearly, asset tokenization is revolutionizing the way assets are purchased, traded, and sold across all industries. 

This article will cover what asset tokenization is and list some of the best platforms to tokenize your assets.

In a world where NFTs (non-fungible tokens) have ignited the imagination of creators and collectors alike, one particular avenue stands out: physical-backed digital collectibles, also known as item tokens. Beyond the hype surrounding NFTs, these tokens bridge the tangible and digital realms, offering a captivating fusion of ownership, transparency, and authenticity. But how does one bring a physical collectible into the vibrant world of blockchain in a way that the digital counterparts effectively portray the physical items? 

A 2020 report clocked the total value of the tokenized item market at over $18 billion USD, a large figure considering the relatively short time that tokenized items have been mainstream. Brands and businesses have clearly taken note of the growth potential that tokenizing items can bring, but penetrating the market without direction can be a costly disaster.

Instead of scrambling for a strategy, tokenization services give brands an accessible pathway to tokenizing and leveraging their items through partnership. However, brands must first vet a variety of tokenization services to determine which partner can deliver the security and scale necessary for success.

Stop us if you’ve heard this one before: “Web3 is going to revolutionize the way businesses use the internet.” It’s a statement we believe to be inherently true, but it’s also frustratingly vague. What does the growing adoption of blockchain technologies behind web3 truly mean for businesses? What do its new concepts of ownership and authenticity in a digital space mean in practical terms? While new applications are emerging by the day, one of the most compelling use cases is already here: going from physical to digital in web3.