CandleFocus NFTs in action: A podcaster’s unique method for engaging his fanbase
2024-10-28
Author: Content Editor
The total market capitalization of non-fungible tokens (NFTs) has decreased significantly from its peak in 2022. However, the use cases for NFTs are still prevalent. One example is Pods.media, which allows podcasters to monetize their content through NFTs. Since its launch, Pods has onboarded over 75 podcasts and generated over $1 million in podcast episode sales. This not only provides a revenue stream for podcasters but also allows them to gain insights into their audience through onchain analytics. Another use case of NFTs is in combating fraud and counterfeit in the luxury goods sector. The non-profit Aura consortium enables luxury brands to trace the lifecycle of their products and authenticate them using NFTs. This addresses a significant challenge in the industry and has been adopted by over 50 luxury brands. Overall, NFTs continue to be used in various industries for productive purposes beyond speculative trading.
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