As NFTs Embrace Utility, Fanaply and LiveLike Partner on Programs
Despite co-founding NFT provider Fanaply, Mike Rosenthal has not been dismayed by falling crypto prices and their impact on top-selling NFT projects this year. Far from it.
“You’ve seen this correction… which we really welcome, actually,” Rosenthal said in an interview. As he sees it, blockchain products are midway through a classic tech hype cycle, with inflated expectations and ensuing disappointment representing stages to be cleared before long-lasting, mainstream offerings can emerge. “It was getting really intense and a bit overblown there,” he said.
Fanaply recently partnered with tech company LiveLike to offer next-generation loyalty programs for sports properties. Last month, LiveLike partnered with blockchain developer Polygon Studios as well, as it looks to integrate NFTs into the in-app gamification and proof-of-fandom experiences it builds for clients.
For example, potential programs could allow fans to check-in to prove they arrived early for three straight games and receive an NFT that would give them access to a postgame player Q&A online. Putting that kind of program on the blockchain could allow users to more easily share their rewards or display them to a third party (maybe for a free beer across the street).