What is Interactive NFT? The Spark for NFT’s Next Growth

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2021-10-24 13:37:05

NFT is considered as a gateway to help attract a large number of users and new money flows into Crypto. With the successes that NFT has achieved, we cannot deny their important role. However, at the moment, the NFT market is at a saturation stage and needs a push to continue to boom.

Similar to DeFi has DeFi 2.0, NFT will also have “NFT 2.0” to help overcome the weaknesses of current NFT, and I call such NFTs as “Interactive NFT”.

So what is Interactive NFT? Why are they special? What are the outstanding projects and what do we need to prepare to not miss the upcoming NFT trend? Let’s find out together!

But first, make sure you understand the true nature and potential of NFT by referring to the following article: What is NFT? Decoding the NFT fever & 4 common misunderstandings

What is Interactive NFT?

Interactive NFTs are NFTs that the owner can interact with. Unlike current NFTs when most users can only buy and hold, Interactive NFT will create one or more use cases. From there, it helps to increase the connection of users with their NFT.

Owning NFT and Interactive NFT is similar to owning a stuffed cat with a real cat, we will need to interact with the things we own more.

Current context of NFT

NFT has been very successful in attracting new users who used to dislike the complexity of Crypto or the dry numbers of DeFi. However at the present time NFT has passed the hot development stage and is facing the following problems.

Saturation

There are currently tens of thousands of NFT projects, each with thousands of different NFTs. Although there are still projects that make beautiful and valuable NFTs, I appreciate the present The market is almost saturated.

From the perspective of collectors and investors, choosing a good NFT to buy at the moment is like finding a needle in a haystack, really difficult. The liquidity of the NFT is also particularly poor, most of the NFT is currently in a state of no one buying.

There are more than 21 million NFTs on Opensea of ​​various genres

NFT has no use cases

There are many Crypto projects that follow the trend and release NFT as rewards for users, but at the moment most of those NFTs just leave no. I am also a DeFi user myself and have also received a lot of NFTs of projects that I have used. However, there are more and more NFTs in the wallet but it’s all just empty, no one buys it for sale, it can’t be used, and the wallet looks quite messy.

With users gradually losing interest in owning NFT, it is highly likely that we will see new advances in the application of NFT in Crypto projects. There have been a few projects developing in this direction and I will share them with you in the next section.

In short, the NFT will need a fresh push for the next bull wave. Most likely it will be NFTs that users can use, not just buy and leave.

Classification Interactive NFT

Although Interactive NFT all have the common feature that users can interact with NFT, we can further divide them into different branches to facilitate the search and evaluation of investment opportunities later.

I divide Interactive NFT into branches as follows:

Basic Interactive NFT

This is an interesting NFT genre that I found recently. The characteristics of the NFT will change when a user makes a transaction related to that NFT.

Eg: The project below, the user must water the flower plant for a fixed time or else the flower plant will die, when the flower plant dies, it cannot be shipped or sold.

Cryptorchids – A basic Interactive NFT. The source: Cryptorchids.

Note: The above project is just an example of Interactive NFT and completely Not investment advice. You should read the whole article carefully and find out for yourself before coming to a decision to put down money. The above Cryptorchids project itself is an NFT project on Ethereum, every watering is every time you have to make a transaction and this is very expensive.

Gaming NFT

Surely you are no stranger to the Crypto games now. The Play trend of adding the Earn factor has helped Axie Infinity become one of the biggest revenue generating projects in the Crypto market for a long time.

The NFTs in the game are also the most vivid example of the strong attraction when users can interact with the items they own. Gaming NFT has a very fast growth rate and more and more quality games are coming out.

Project NFT Gaming Axie Infinity

Interactive NFT x DeFi

As I mentioned above, there have been many DeFi projects that caught the trend and gave NFTs to users of their products. However, that number of NFTs is mostly useless and you can almost just leave it in your wallet.

There have been many DeFi projects that started the Interactive NFT application in various ways, opening up many new potentials to engage users in DeFi.

Examples can be mentioned as Orca allows Staking NFT users to receive the project’s $ORCA token. Or Zapper for NFT users when the attendance is full, that number of NFTs can be crafted to create higher level NFTs.

Orca allows users to staking NFT to get tokens

Others

In addition, there are many ways to use Interactive NFT such as exchanging NFT for real-life items or having many tickets to an event called NFT. However, I see that there are not many resources to focus on developing in these areas at the moment, so I will temporarily ignore it and will update you when there is enough data in the future.

The Potential of Interactive NFT

Below I will summarize some of the potential of Interactive NFT.

Optimizing the efficiency of NFT in the project

The right application of NFT will help create many positive effects and is a great tool to attract users to the project.

After the announcement of Season 2 of NFT attendance, Zapper’s MAUs (monthly users) increased tenfold. This shows that the appeal of NFT is still there, especially when users can now do more things with the NFT they receive.

Zapper’s user base has increased dramatically

Orca with the launch of NFT staking created a fever in Solana Ecosystem. During that time, the price of NFTs has X more than 10 times and helped the project grow a lot in terms of TVLs and users.

An explosive future for gaming

There is a very interesting case that I have observed in the past, that is the game Mir4 was released about 3 months ago. The game itself is quite similar to the martial arts games on duty that are abundant on the market today, although the graphics are beautiful but not really outstanding.

Game Mir4. The source: Mir4

Indeed, in the beginning the game only attracted a small number of players, but this has completely changed since the game added a feature. It allows players to mine minerals and exchange them for tokens that can be sold when the character reaches level 40.

Just one more feature helped this game attract millions of players in just a few months. Every day, a few new servers are created, and I remember correctly when I created my account, the server I joined was “Asia 40”.

This shows us the attraction of the game segment when combined with the earn factor. And I believe gaming with NFT in the game has a huge growth potential.

Currently, NFT games continue to achieve many impressive achievements:

  • Axie Infinity is still the project that generates the most revenue at the moment.
Axie Infinity is at the top of the box office at the moment. The source: TokenTerminal.com
  • Diluted capitalization (FDV) of Star Atlas at one point reached more than 12 billion dollars. Other games on Solana like Aurory are also topping the table in terms of NFT value.
Aurory ranks third in NFT capitalization on Solana. The source: Solanafloor.com

And with so many quality games about to be released in many different chains. Promising for an explosion of the Gaming segment in the near future. Of course, NFT is indispensable as well as interactive elements between users and NFT.

Notable projects in the field of Interactive NFT

Some outstanding projects in the Interactive NFT array:

Animal Coloring Book

Animal Coloring Book is a basic Interactive NFT with a pretty cool concept. Projects have two types of NFTs:

  • One is pictures of animals.
  • One is the erasers.

Initially the animal pictures will be completely white and they will show parts through each transaction and eventually achieve a complete image. At this point, the user can use the eraser to erase the image of the animal and the eraser will be permanently burned from the supply.

Animal Coloring Book Project

Zapper

Zapper is one of the leading dashboards today, the project allows you to manage positions in many different chains. It also makes it easy to perform DeFi tasks like swaps, provide liquidity and lend assets on a single interface. With the donation of NFT when users take attendance as well as interesting games such as Craft, burn NFT, the project has received many very positive results.

The founder of Zapper himself has also revealed a lot about the future of Zapper and NFT seems to play an important role in the future development of the project.

See more: Instructions to participate in receiving NFT on Zapper

Project Zapper

Gaming projects

Currently there are so many great and potential games that just mentioning 1 or 2 names here is not very satisfactory, so I will talk about a few games that I quite like.

Some of the games that impress me can be mentioned as: Axie Infinity, Star Atlas, Aurory, Project Seed, Thetan Arena, Cyball,… The projects all have good gameplay, teasers, or game concepts and I’m looking forward to experiencing them in the future.

If you are interested and believe in the development potential of the Gaming segment, you can learn more and discuss with CHK in the CHK Insights group.

Investment opportunity in Interactive NFT

Things you should prepare to not miss the upcoming fairly obvious trend:

  • Looking for a project that doesn’t have a token but has an NFT or a chance to get an NFT: The search process is quite similar to looking for retroactive projects you can refer to. It is highly likely that there will be many projects with Interactive NFT in the near future.
  • Filter projects carefully: Look for projects that are really passionate and have a plan to apply NFT. Often projects have a plan, we can see them sharing a lot about NFT or even going up Discord, Telegram to get more information.

Eg: Typically the difference between Zapper and Zerion. Although both work in the same field, Zapper applies NFT to its products. Users must perform operations on Zapper to receive the NFT and that NFT is upgradable. The project also shared a lot about the upcoming strategy. And Zerion only let users mint NFT and leave it there.

  • Looking for basic Interactive NFT projects: Similar to how we bought NFTs before, we can now buy Interactive NFTs. It should be noted that the risk of this is quite large because the trend has not really formed yet. You should only buy NFTs that you think are good first and reduce the speculative factor.
  • Gaming NFT: We should look for games that we really enjoy and learn about them. What could be more wonderful when we can both relax with the game we like and earn money.

Projections on Interactive NFT

Some projections about the upcoming NFT trend:

  • NFT will be used more and more, users will not only want to hold but they will want to use their NFT.
  • There will be project airdrops for users who own NFT.
  • With DeFi, Interactive NFT will create many new models that better capture value and users. Which project is well applied can create a great advantage over competitors?
  • NFT holders will be able to access many higher benefits of the project. (Similar to how Alpha Finance is applied to the tier system).
  • Gaming NFT will gradually take up a large share of today’s gaming market.

Looking for more information: Change position with 0 dong capital by doing Retroactive.

Epilogue

Recognizing current problems will help us make predictions about future development.

Hopefully the above article has helped you better understand what Interactive NFT is and know what you need to do to prepare for the upcoming trend. If you have any questions, feel free to share them at the bottom of the article or message on the CHK insight group chat, CHK is happy to answer your questions.

Disclaimer: This article is for informational purposes only and should not be considered investment advice. Crypto investment is a very risky type of investment and you should only participate with the amount of capital you can lose.

#InteractiveNFT

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#Interactive #NFT #Spark #NFTs #Growth

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One thought on “What is Interactive NFT? The Spark for NFT’s Next Growth

  1. Love the passion you’ve put in the article, but i miss some highlights like “what was the first interactive NFT on the ETH chain” or other special interactive NFTs like “Nobody” that can react on two different ways depending on which code you get when you refresh the page.

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