What is an NFT utility platform? 

NFTs saw a huge increase in popularity through 2021 and 2022.  

It felt like every week a celebrity or aspiring entrepreneur was launching an NFT collection. 

Here's the thing with a lot of those NFts that were launched. They were little more than collectibles.  Sure, they're cool to own if you lie digital artwork, but they did;t offer much in terms of utility.  

Which means they often depreciated in price as there was no inherent value other than how much someone liked the artwork. 

that works well for niche communities and well-known artists like Beeple. But for most creators they need to offer something more.  

The problem as that with most NFTs you can't add utility in post-creation. Or at least, you couldn't.  

Thanks to a growing number of platforms that allow you to add utility to your NFTs and collections post mint, you can now ensure longer-term value for your holders and give them extra value from supporting you. 

These platforms allow you to add some form of utility to your creations. 

Best NFT utlility platforms

While the utility you add is going to depend on your own needs, the below platforms are some of the most popular in the space. 

1.Tropee

Tropee is one of the most popular and well known utility adding platforms for NFTs. It's an incredibly versatile platform allowing users to add a number of NFT utilities to their collections.  

You can use the Tropee service as both a creator and a holder of an NFT to create and claim utility respectively.  

If you want to add utility to an existing collection, Tropee is a great choice.  

Read more about Tropee here

2. SolidNFT

SolidNFT is a platform aimed at the holders of NFT collections. 

With SolidNFT, you can quickly and easily order a print of your favourite collection. The prints are available in several sizes and with different frame options. 

Once orders, you'll receive a print of your NFT on a metal plate so you have a long-lasting physical version.  

How is a utility platform different from a utility NFT? 

A utility NFT is often tied to a platform or ecosystem and provides a specific purpose or function.

They differ from traditional non-fungible tokens (NFTs) which are primarily used for digital collectibles and art, as utility NFTs have practical applications such as granting access to virtual worlds or games.

This can include buying in-game items, accessing special features, or garnering exclusive content. In addition to this, utility NFTs often represent shares in decentralized autonomous organizations (DAOs), enabling token holders to have voting rights over proposals and decisions within the DAO's governance structure.

Here's the thing. Utility NFTs are often created by the platform or ecosystem they're linked to with the specific goal of allowing access or participation in some way.  

NFT Utiliy platforms are a little different. They're not tied to a specific ecosystem or platform meaning anyone who has created an NFT collection can benefit from them. 

Depending on the platform, you can choose what utility to add to your NFTs. You can choose to turn a simple collectible into something that gives governance rights, access to restricted areas, or anything else. 

Some of the NFT utility platforms aren't aimed at the creators but instead at holders. For example, a lot of NFT collectors buy NFTs because they like the artwork. Some utility platforms will permit the holder of an NFT to get a physical print or version of their NFT so they can display it in their home. 

How do NFT Utility platforms work? 

A lot of the platforms ar every simple to use.  

All you have to do is link your NFT collection or crypto wallet to the platform. 

If you're the creator of a collection you want to add utility to, you then simply decide on the utility you want to add and assign the collection it applies to. The utility platform will then handle the remainder and ensure that the utility is added to those assets. 

As a user, after syncing your wallet you can simply choose what to do with your NFT. NFT printing services will then let you choose the dimensions and print style of your NFt before asking where to deliver it.  

Why is NFT utility important? 

NFTs saw huge increases in popularity. Unfortunately, a lot of the value for many of the collections was built on hype. 

Some have persisted because they offer superior artwork or some form of utility. 

A lot of the collections that are little more than an image failed and have disappeared. 

While utility is not a guarantee against failure for an NFT collection, it is a hedged bet against problems down the line as it adds more value to the existing asset.   

What utility can be added to NFTs? 

There's a huge variety of utility options that can be added to NFTs.  Below are just few of the potentials.

Physical products

NFTs can be used to verify the authenticity and ownership of physical products, ranging from a valuable piece of fine art to a rare collectible. 

In the case a physical asset is sold on secondary markets or collectors wish to authenticate it at any given point in time, they would be able to reference a stored immutable record that was compiled at the time of purchase and validated with an NFT. 

You could also use an NFT print service to get a physical representation of your favourite NFT so you can display it in your house.  

Memberships and access tokens

An NFT could be designed for users that want access to VIP sections of concerts or sports events, or even a digital community.

The holder would be able to gain entry using the uniquely generated NFT that demonstrates proof of their membership status in the club. Similarly, NFTs can also be used as event tickets—allowing concertgoers, moviegoers, and fans of professional teams to get into games at any venue without worry or hassle from ticket scalpers. Instead, each unique ticket is represented by an individual NFT which guarantees entry and provides evidence of attendance for long after the entertainment experience is over.

Loyalty rewards

NFTs are a powerful new way to create and manage loyalty rewards programs. By leveraging blockchain technology, businesses can create NFTs that represent loyalty points, which customers can accumulate over time by making purchases or engaging with the brand in other ways.

These NFTs can then be used as tokens to access discounts, exclusive offers and other perks. This gives customers an incentive to remain loyal and encourages them to keep coming back for more.

The use of NFTs also allows businesses to track customer loyalty more accurately than ever before by having a complete record of their transactions and interactions stored securely on the blockchain. This allows companies to identify their most active customers and reward them accordingly with the right benefits. 

Governance rights

When it comes to participatory decision-making, NFTs have emerged as a powerful tool to provide tangible proof of an individual’s right to have their voice heard. Specifically, using NFTs to represent voting rights gives holders the ability to use their tokens for conducting secure online polls and direct democracy.

Individuals can securely cast their votes by simply transferring their tokenized representations from one address to another, and results can be tracked on the blockchain with full transparency.

NFTs also facilitate a more decentralized form of governance through the concept of delegated voting. Delegated voting allows users to transfer designated rights or stakes directly from one user to another, offering greater control over how decisions are made and giving representation back into the hands of its community members.

This is especially beneficial in large scale communities with dispersed membership because it eliminates trust issues between stakeholders who may not even know each other in person. By tokenizing these transactions, it makes them easier yet safer for everyone involved.