Block Potential Issues NFT 🎉 Buy your favorite and memorable content

Hi, Block Potential is going to issue NFT!

Inspired by several recent podcast guests, Block is set to become the first media in Taiwan to distribute "content NFTs". From today onwards, for every article on the block potential, there will be an NFT for readers who like the article to buy and collect. Each NFT has a unique pixel art design. For example, the image below is the NFT of the article #359 Dogecoin.

Block potential articles have always featured “clearness”, while NFTs deliberately present the theme of the articles in a low-resolution pixel style, while 8bit bitmaps represent the technological elements behind NFTs. Each picture will be accompanied by an article number for the convenience of collectors to share.

This article discusses why Blockpot issues NFTs, what readers get when they buy NFTs, and what innovative applications are currently available.

digital collectibles

Do you have books at home that you bought but hardly read?

I have a bookshelf dedicated to storing books for collection. Of course they can be read too, but I prefer to read e-books. Buying a physical book is usually because I agree with the book's proposition and want to keep it as a souvenir.

Books and paper copies can be collected, but there is no physical version of block potential articles. I've seen readers print articles from websites. But the way digital content is formatted is very different from that of paper, and direct printing of website articles or emails is difficult to treat as a beautiful collection. This is why Blockpot issues NFTs.

As more and more digitally-native content becomes available, so will the need for collections. At present, paid members buy the website login permission. If you want to collect articles, you can only keep the URL. Unlike student ID cards, employee ID cards or membership cards, you can enter and exit freely during the validity period, and you can keep it as a souvenir after it expires.

Many people are working from home during the pandemic. There is no access control online, and the physical employee ID card is only symbolic. If the future trend is remote collaboration, it is better to upgrade the employee ID card directly to a digital form, which is more convenient to collect and carry. Like the block potential, it plans to issue digital employee cards with NFT, so that partners who work together can keep it as a souvenir forever, and it can also be used as a social platform or a display in the fictional universe (metaverse) in the future.

The publication of the article NFT is to allow readers to participate in the journey of the block potential.

For example, a reader completes a report, finds a job, or invests money because of an article, podcast. Originally, they could not turn these digital contents into personal collections, but could only commemorate them in URL, text or other forms. If the blockbuster website stops operating one day, it will also mean that the memories of these people will disappear.

There are already many ways to save text, copy or print it, but NFTs meet the needs of digital collections that have never been seen before. Block Potential releases NFT to allow readers to buy favorite or memorable content. Even if the website goes down, NFTs can be kept forever by everyone.

But how to present articles as NFTs? There is no precedent to follow. So we try to design a cover image for each article, just like collecting physical books and magazines.

Block Potential NFT

Different from physical books, digital articles usually have no cover but only the body, which lacks the sense of ritual of collection. Therefore, this time, Block Potential NFT cooperated with pixel art designer PixelRuRu to design the cover of each future article and make it into NFT for readers to buy and collect.

We will issue 1 NFT for each article, each with a limited number of 8, each with an initial price of $8, which will be listed on the OURSONG platform every Saturday at 12 noon. These figures are subject to adjustment in the future.

The price of $8 is the same as the monthly fee of Block Potential, allowing readers to spend an additional month of subscription fee to specially collect this article, but not give up because the price is too expensive.

In addition to the collection, I will also airdrop the sharing link of the article to NFT holders with a QR code. They can share this article with the people around them, just like some people occasionally forward the block potential article to their friends via email.

But the most interesting thing is that this is a digital creation that will automatically share profits. Every time this NFT is sold, the funds will be remitted to the designer and the block’s receiving addresses according to the pre-set profit sharing ratio. If this NFT is traded in OURSONG's second-hand market in the future, both parties will also receive a proportional 10% profit.

In other words, if the NFT is later sold by the collector in the second-hand market for $100, in fact the collector will only get $90, and the other $10 will automatically go back to the pockets of the designers and creators. This makes the original creator of this NFT less worried about price speculation, and at least he can benefit from every second-hand transaction.

This is contrary to the previous practice of cracking down on scalpers.

Scalper tickets are due to the shortage of supply in the market, and the initial price of tickets is too low, but many people are willing to pay higher prices for tickets. When scalpers saw the arbitrage space, they snapped up. These proceeds cannot go back to the issuer of the ticket. However, if a certain percentage of each ticket returns to the issuer, the issuer can also use the market's reaction as a basis for future pricing.

This is difficult to achieve in paper coupons, but in the digital world, the profit sharing rules can be written directly. Whenever the NFT changes hands, the profit sharing is also done automatically. But don't be too happy. At present, this profit sharing mechanism is limited to the OURSONG platform. If users withdraw NFTs to their wallets, they cannot force profit sharing. The issue of scalpers remains unsolved.

In addition, NFT is different from the "transaction counts" model of cryptocurrencies, and the NFT market is "bids counts".

If the NFT holder sees the highest bid and does not sell, those bid records to be traded become the market price of the NFT. And this may also indirectly prompt people to dig and collect those NFTs with potential in the future, such as the episodes of podcasts discussing NFTs in Block Potential two years ago, or this article on Block Potential announcing the issuance of NFTs, which may be discussed in the future. Quite collectible.

If you also want to buy an NFT and try it out, you can start by downloading the app OURSONG .

Purchase process

OURSONG is an NFT trading platform under KKBOX Group, and it is also the app that integrates the deposit, transaction and withdrawal process smoothly. Buyers can purchase NFTs through PayPal, USD stablecoins or credit cards as long as they register for an account. Sellers can also withdraw the sales revenue through PayPal or USD stablecoins.

NFT is like a cryptocurrency, and OURSONG is like an exchange. People can choose to put NFT on the OURSONG platform to facilitate trading, or withdraw NFT to their wallet for permanent collection, or list it on other platforms for trading.

In the short term, NFTs may be just one of the many digital assets in people's wallets, and many people still don't understand why people are willing to spend money to buy NFTs. But if NFTs can also be displayed through social platforms like Instagram in the future, it is not difficult to understand.

We've become so accustomed to using social platforms to judge a person's lifestyle, taste, and even identity. In the future, whether it is the country you have visited, the luxury hotel you have stayed in, or the media you have subscribed to, it is possible to issue NFTs, which will become another proof of "clicking in" or "unlocking achievements".

Every time someone visits a city, they buy a Starbucks mug as a souvenir. As people spend more and more time in the digital world, there will be many special moments to be remembered. If it is not convenient to leave a record in a physical way, in the future, you can consider purchasing an NFT to express the importance of this experience.