Freetrade NFTs

I thought I’d just create a topic for people to discuss that NFT - one of the perks from Freetrade’s R7 crowdfunding round.

What’s the point of it? Why does it exist? What does it do? What are you wealthy people going to do with yours?!

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Here’s an (optimistic) guess from @fryry

Interestingly, Professor Scott Galloway has been saying that he could imagine a future in the USA in which the big name universities issue NFTs and the holder of that NFT would be entitled to ‘free tuition’, they’d then sell their coin afterwards with the university getting a big cut of the price and this could be a new funding model for higher education.

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How is it free if you hold the nft. Can you elaborate?

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I don’t think I’ll ever be able to find the podcast episode in which he talked about it - it was either an episode of Pivot or The Prof G podcast.

If I remember correctly, the University Of American Samoa would mint a number of “Tuition NFTs” and sell them for a price of their choosing, releasing them into the marketplace. People would then buy them and the holder of the NFT would not have to pay tuition costs for as long as they held the NFT.

A feature of NFTs is that the creators can stipulate that they receive xx% of all future sales of that NFT. When the holder of the NFT is done being educated, they can sell the NFT on the open market for whatever price they get and the university gets a cut.

I mean… you could swap NFT for “a stick” or “pretty seashell” and the whole thing would make just as much sense to me.

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freetradeNFT

Looks like your Freetrade NFT has already landed :joy:

I do like the idea of the NFT, lots of different types of value it could represent in the future, depending on what they choose to do with it.

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:rofl: omg! Thank you so much for my NFT. I will be taking legal action against anyone that right clicks on it to save it, screenshots it or copies and pastes it into another comment.

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I’m uploading it to https://thenftbay.org/ as we speak

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First everyone on here was mocking me for the countless times I’ve invested in a stock before it nosedives, then people were enjoying watch me burst a blood vessel/udder when I share my views on AJ Hell’s customer service and now people are stealing my NFT ?!

Why’s everyone so mean to me!!!

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To be honest I was ready to invest just to have (even a useless) Freetrade NFT, for the “lulz”. But at £10k I backed down.

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That’s the thing as well, it’s such a weird additional ‘perk’ for such a high investment band.

It would be great if someone from FT could explain what the NFT is all about, whether it has any actual utility or perks or if it’s just a picture and entitles the holder to nothing at all.

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Zero utility.

Think of it as being like a freebie Freetrade branded low-capacity USB stick or ill-fitting tshirt, but much more exclusive.

It’s probably not a reason to invest at that tier, but if you are investing there anyway then it’ll probably bring factionally more joy than a little foam football with the company logo printed on.

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I’ll be waiting in the wing to buy one, once the market crashes and the NFT hype has died down.

Is zero utility confirmed? If so, that’s really disappointing considering the high investment tier it’s opened to, and it’s a great opportunity for Freetrade to be an innovator in this nascent space.

There are SO many things they could do with a NFT – guaranteed allocation in future fundraises, reduced trading fees, free plus membership, invite to VIP events, opportunity to beta test, ultra limited merch that can only be redeemed by burning the NFT. The sky is the limit here; I really, really hope they don’t just go for “digital art”.

Edit: I work in the crypto space and have involved in crypto since 2014. As a modest investor in Freetrade, I’m happy to consult on their NFT project for free and make it something really damn cool. They just need to DM me.

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Nope. I don’t think there’s been any info at all other than that which appeared on the CrowdCube page

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I love your ideas though. I wonder if they plan on letting owners store it in the new Freetrade crypto product? @sampoullain, do you know anything?

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When I went to the in person Freetrade event the other week. Duncan mentioned a few exciting bits on crypto & freetrade. They are definitely looking to give us the ability to integrate Crypto within our portfolio. Also the business model on implementation, they are trying to replicate it similar to stocks and shares, which would mean buying crypto at similar low fees (building their own system). How that will be done, don’t know. I also think this NFT won’t just be digital art. I hope it will be something like the things TinyDancer mentions in his post. Definitely exciting time ahead.

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Cc @sampoullain @mynameisgeraint @Duncan @nickfell @Stalwar @Viktor

I that’s everyone I ‘know’

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So there is demand!

The investor will have gotten it for free, so the fact that there is anyone waiting to buy it, they are already winning.

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I’ve been trying to wrap my head around NFT’s for the last month or so (I highly recommend Tim Ferriss’ podcast with Chris Dixon and Naval Ravikant on Spotify who have a very interesting insight on how NFT’s are going to be a huge part of the future along with Web3 etc).

It will be interesting to see how Freetrade utilise these NFT’s… maybe it will grant the holders free plus membership, or throw an exclusive yacht party?

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I was going to find enough for the NFT but decided it was far too much for a vague description and split between a few companies but definitely want my socks and badge. :rofl:

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I wonder if there will be an opportunity to trade swap, sell, stake NFTs as part of the potential crypto platform. :thinking:

Prehaps they can be used in the Freetrade Metaverse!!! Wonders will never cease!!!

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