I thought Iād just create a topic for people to discuss that NFT - one of the perks from Freetradeās R7 crowdfunding round.
Whatās the point of it? Why does it exist? What does it do? What are you wealthy people going to do with yours?!
I thought Iād just create a topic for people to discuss that NFT - one of the perks from Freetradeās R7 crowdfunding round.
Whatās the point of it? Why does it exist? What does it do? What are you wealthy people going to do with yours?!
Hereās 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 āfree tuitionā, theyād 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.
How is it free if you hold the nft. Can you elaborate?
I donāt think Iāll 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 āTuition NFTsā 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 meanā¦ you could swap NFT for āa stickā or āpretty seashellā and the whole thing would make just as much sense to me.
Looks like your Freetrade NFT has already landed
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.
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.
First everyone on here was mocking me for the countless times Iāve 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 Hellās customer service and now people are stealing my NFT ?!
Whyās everyone so mean to me!!!
To be honest I was ready to invest just to have (even a useless) Freetrade NFT, for the ālulzā. But at Ā£10k I backed down.
Thatās the thing as well, itās such a weird additional āperkā 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 itās just a picture and entitles the holder to nothing at all.
Zero utility.
Think of it as being like a freebie Freetrade branded low-capacity USB stick or ill-fitting tshirt, but much more exclusive.
Itās probably not a reason to invest at that tier, but if you are investing there anyway then itāll probably bring factionally more joy than a little foam football with the company logo printed on.
Iāll 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, thatās really disappointing considering the high investment tier itās opened to, and itās a great opportunity for Freetrade to be an innovator in this nascent space.
There are SO many things they could do with a NFT ā 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 donāt just go for ādigital artā.
Edit: I work in the crypto space and have involved in crypto since 2014. As a modest investor in Freetrade, Iām happy to consult on their NFT project for free and make it something really damn cool. They just need to DM me.
Nope. I donāt think thereās been any info at all other than that which appeared on the CrowdCube page
I love your ideas though. I wonder if they plan on letting owners store it in the new Freetrade crypto product? @Freetrade_Team, do you know anything?
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, donāt know. I also think this NFT wonāt just be digital art. I hope it will be something like the things TinyDancer mentions in his post. Definitely exciting time ahead.
Cc @Freetrade_Team @mynameisgeraint @Duncan @nickfell @Stalwar @Viktor
I thatās everyone I āknowā
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.
Iāve been trying to wrap my head around NFTās for the last month or so (I highly recommend Tim Ferrissā podcast with Chris Dixon and Naval Ravikant on Spotify who have a very interesting insight on how NFTās are going to be a huge part of the future along with Web3 etc).
It will be interesting to see how Freetrade utilise these NFTāsā¦ maybe it will grant the holders free plus membership, or throw an exclusive yacht party?
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.
I wonder if there will be an opportunity to trade swap, sell, stake NFTs as part of the potential crypto platform.
Prehaps they can be used in the Freetrade Metaverse!!! Wonders will never cease!!!