Non-Fungible Tokens: A New Frontier for Brick-and-Mortar (In-Person)

45 Woodlawn Avenue,Pittsfield MA 01201

04 June, 2022

Description

Join us for a panel discussion to discuss non-fungible tokens (NFTs) and the opportunity the can provide to brick-and-mortar businesses. Non-fungible tokens (NFTs) are poised to fundamentally transform our dining, shopping, traveling, and ticketing experiences at brick-and-mortar venues in the future. NFTs provide a huge opportunity for brick-and-mortar businesses to retool their marketing strategy, maximize market share, and attract a younger demographic. NFT are a type of crypto asset. While NFTs are similar to cryptocurrencies in that they both run on a blockchain, they differ in significant ways. Specifically, unlike traditional crypto assets, NFTs are unique. The non-fungible in “NFT” means each token is one of a kind and cannot be replaced with another token, much in the same way a work of art or an autographed baseball card is unique. While NFTs are particularly well suited to art and collectibles, NFTs can be used to represent the ownership of any one of a kind of asset, digital or not. Whether the NFT represents, for example, a VIP pass or a prize, this scarcity, uniqueness, and proof of ownership are valuable features that enable NFTs to transform a physical or digital asset into a collector’s item that has the potential for lucrative resale. In our post-Covid world, brick-and-mortar businesses are looking for new and innovative ways to connect with their patrons and augment their marketing tactics. Traditionally, brick-and-mortar businesses have been fundamental touchstones of our daily lives, and now NFTs are transforming and augmenting that experience. NFTs can change how we define and experience brick-and-mortar in the future. Keeping ahead of the game is essential for increasing market share. The Berkshire Innovation Center has arranged a panel of technical, business, financial, and legal NFT experts to help us learn how we can stay ahead of the game and leverage the impending NFT revolution. This event will be held in-person at the Berkshire Innovation Center with a live-stream option available. Use this link to register to attend in-person.