Blue-Chip NFT holders are now eligible for an IRL rewards program
The Alpha:
- Portfolio tracker AssetDash just launched DashDeals, according to a Wednesday press release. It’s an asset-based rewards program modeled after Web2’s AMEX Rewards.
- Initially, holders of DeGods NFTs, CryptoPunks, Bored Apes, Moonbirds and other high-end NFT projects will be “immediately eligible” to receive rewards under the DashDeals program.
- Benefits for holders of these NFTs currently include Apple gift cards, Nike gift cards, GameStop gift cards, Discord Nitro subscriptions, and more.
Why it matters
In the NFT world, the promise of utility is nothing new. Some even argue that forcing utility on an NFT project can have a detrimental impact on quality. Despite that, “utility” remains a priority for new NFT projects entering the space – especially those with significant corporate backing.
But at the end of the day, most consumers who want to buy expect something to be able to do something with that. As such, we’ve seen many projects lately operate as membership passes of sorts. Projects will say: “buy NFT and receive X benefits in the future.”
But what if a third party could step in and give holders of specific NFTs a tangible benefit? That’s exactly what DashDeals hopes to do. Via this platform, AssetDash hopes to further encourage brands to take their first steps into Web3. “With DashDeals, investors can unlock hundreds of deals based on assets they own, and brands easily get their product in front of the Web3 community,” said AssetDash’s Matias Dorta in a press release.
What will be next
For projects as large and high-trust as the Bored Ape Yacht Club, owning one of these eye-poppingly expensive NFTs also provides an intangible – but equally valuable – benefit to the holders. Society. As long as you hold a Bored Ape NFT, you are a member of the Bored Ape Yacht Club and are free to participate in all community activities from that point on. Along with that membership comes all kinds of opportunities to use Bored Ape’s IP address however you want.
Yes, owning a Bored Ape NFT sounds like an exciting prospect. But remember that all NFT projects handle the concept of utility differently. Some NFT projects do not even offer some utility beyond its artistic merit. While that’s a discussion for another day, initiatives like DashDeals hope to give holders more reasons to hold on to their precious NFTs instead of viewing them as mere speculative assets. To paraphrase Nifty Gateway founder Duncan Cock-Foster’s words at our State of NFTs IRL event last August, the NFT space need to move beyond its primarily speculative nature to truly grasp. So if you’ve already invested in a blue-chip NFT, maybe it’s not such a bad idea to “hodl” – a free Disney Plus subscription is sure to keep you busy in the coming months, after all.
