Innovative Applications of Blockchain Tech Lead to the Rise of Non-Fungible Tokens

NEW YORK, April 7, 2021 /PRNewswire/ — The popularity of NFTs continues to grow as more celebrities join the market…

NEW YORK, April 7, 2021 /PRNewswire/ — The popularity of NFTs continues to grow as more celebrities join the market trend. For example, Tom Brady is launching an NFT platform called Autograph in the near future. According to a report by CNN Business, Dillon Rosenblatt, co-founder and CEO of Autograph explained that «Autograph will bring together some of the world’s most iconic names and brands with best in class digital artists to ideate, create and launch NFTs and ground-breaking experiences to a community of fans and collectors.» Non-fungible tokens are units of data on a digital ledger (blockchain), where each NFT can represent a unique digital item. NFTs can be used to commodify digital creations, such as digital art, video game items, and music files. Scienjoy Holding Corporation (NASDAQ: SJ), Snipp Interactive Inc. (OTC: SNIPF), Liquid Media Group Ltd. (NASDAQ: YVR), Hall of Fame Resort & Entertainment Company (NASDAQ: HOFV), WISeKey International Holding AG (NASDAQ: WKEY).

In the meantime, blockchain and cryptocurrencies are being increasingly introduced into the mainstream. For instance, there has been an influx of companies buying bitcoin and accepting it as payment in recent times. Additionally, companies like Tesla and Square have put an emphasis on cryptocurrency in recent months. And, as a result of the recent crypto boom, investors have once again started to view the new digital currencies as potential long-term investments necessary in a properly diversified portfolio. Therefore, it is not surprising that ETFs with a focus on crypto and blockchain are doing as well as they are. «Just over three years ago we launched the first actively-managed ETF focused on the dynamic market segment of blockchain-related stocks,» said Amplify CEO Christian Magoon.

Scienjoy Holding Corporation (NASDAQ: SJ) announced yesterday breaking news that, «through its wholly owned subsidiary, Scienjoy Inc., it has entered into a strategic alliance (the «Alliance») via a Master Services Agreement with Snipp Interactive Inc. («Snipp») (TSX-V: SPN; OTC: SNIPF), a global provider of digital marketing promotions, rebates, and loyalty solutions. Through the Alliance, both parties will explore different ways of incorporating Snipp’s Customer Acquisition, Retention and Engagement (C.A.R.E) platform into Scienjoy’s suite of mobile applications. The initial cooperative exploration between both parties are expected to focus on the following two areas:

First, Scienjoy will combine its in-app currency solution with Snipp’s loyalty and rewards engine to develop a new loyalty and rewards system. This will enable Scienjoy to augment its user experience, cultivate additional revenue streams, and explore the potential of using cryptocurrencies on its platform. As part of this system, Scienjoy will utilize Snipp’s platform to provide Scienjoy’s broadcasters and users with more opportunities to earn points through engagement. Broadcasters and users will be able to redeem these points for various digital rewards, including Scienjoy’s virtual currency, Bitcoin gift cards, retailer gift cards, trinkets, and more. Beyond enhancing Scienjoy’s user acquisition, retention, and engagement capabilities, this new loyalty and rewards system will also serve as an additional monetization channel for the Company, as third-party brands interested in reaching Scienjoy’s sizable user base will be able to sponsor events, broadcasters, and live broadcasts through the system.

Second, both parties will work together to enable broadcasters to mint their own non-fungible tokens («NFTs») on Scienjoy’s platform and allow users to utilize the points they have accumulated through the new loyalty and rewards system to bid on and purchase NFT «momentos» from their favorite broadcasters. In addition to strengthening the relationships between broadcasters and their fans, this initiative will provide broadcasters with more monetization opportunities, augment broadcaster loyalty, and attract more new creative talent to Scienjoy’s platform.

Mr. Victor He, Chairman and Chief Executive Officer of Scienjoy, commented, ‘With approximately 250 million users and 300,000 broadcasters across our ecosystem, we are well-positioned to help our partners increase their outreach efficacy. Snipp’s cutting-edge technology and loyalty solutions will serve to further strengthen our value propositions for users and broadcasters alike. Our decision to explore the usage of both cryptocurrencies and NFTs through this strategic alliance further underscores our commitment to integrating those solutions that are new, innovative, aligned with our business objectives, and capable of fueling our long-term growth trajectory.’

Mr. Atul Sabharwal, founder and Chief Executive Officer of Snipp, commented, ‘We are excited to partner with Scienjoy and leverage its established infrastructure to make our initial foray into the Chinese market. By connecting to Scienjoy’s substantial user base and talented broadcaster pool, we will be able to provide our portfolio of global brands and Fortune 500 clients with highly targeted marketing programs in the region. We continue to receive interest from markets outside of North America and look forward to building our presence in these areas going forward.'»

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Snipp Interactive Inc. (OTC: SNIPF) and Scienjoy Inc., subsidiary of Scienjoy Holding Corporation announced yesterday that it has entered into a strategic alliance via a Master Services Agreement.  Through the Alliance, both parties will explore different ways of incorporating Snipp’s Customer Acquisition, Retention and Engagement (C.A.R.E) platform into Scienjoy’s suite of mobile applications.  Mr. Victor He, Chairman and Chief Executive Officer of Scienjoy, commented, «With approximately 250 million users and 300,000 broadcasters across our ecosystem, we are well-positioned to help our partners increase their outreach efficacy. Snipp’s cutting-edge technology and loyalty solutions will serve to further strengthen our value propositions for users and broadcasters alike. Our decision to explore the usage of both cryptocurrencies and NFTs through this strategic alliance further underscores our commitment to integrating those solutions that are new, innovative, aligned with our business objectives, and capable of fueling our long-term growth trajectory.»  Mr. Atul Sabharwal, founder and Chief Executive Officer of Snipp, commented, «We are excited to partner with Scienjoy and leverage its established infrastructure to make our initial foray into the Chinese market. By connecting to Scienjoy’s substantial user base and talented broadcaster pool, we will be able to provide our portfolio of global brands and Fortune 500 clients with highly targeted marketing programs in the region. We continue to receive interest from markets outside of North America and look forward to building our presence in these areas going forward.»

Liquid Media Group Ltd. (NASDAQ: YVR) announced on March 31st, plans to create the first of its kind multi-token IP platform. Liquid is engaged in partnership discussions for platform engineering with CurrencyWorks.  «Tokenization offers multiple benefits for content creators and we believe our multi-token platform will transform the entire media industry,» said Ron Thomson, CEO of Liquid Media. «With it, creative professionals can drive new revenue streams based on digital NFT exclusives and collectibles, increase audience engagement, gamify their intellectual property, guarantee recurrent licensing fees using smart contracts, offer subscription access via utility tokens, raise project financing through security tokens and more, all through a single platform. We are extremely excited by the ongoing revenue and portfolio opportunities for Liquid over the long term and look forward to a rapid adoption of this forward-facing technology.»

Hall of Fame Resort & Entertainment Company (NASDAQ: HOFV) announced on March 23rd, that it has signed a partnership with Dolphin Entertainment, Inc. (NASDAQ: DLPN), a leading independent entertainment marketing and premium content development firm, to offer non-fungible tokens («NFTs») that will allow fans of professional football and sports entertainment to buy and sell exclusive content developed by HOFV and its partners. The partnership provides the Company with another way to generate revenue from its burgeoning media division. «We are thrilled to be partnering with Dolphin, an emerging thought leader in the NFT market, to accelerate our entry into the space,» said Michael Crawford, President and CEO of HOFV. «The significant progress we have made on our strategic initiatives since going public in July 2020 has allowed us to be in a position where we can offer individuals the opportunity to own NFTs associated with original content centered on professional football. This partnership will provide us with another opportunity to unlock additional value from the one-of-a-kind media projects we have in development.»

WISeKey International Holding AG (NASDAQ: WKEY) announced on April 1st, that it plans to launch physical and digital NFTs in football.  WISeKey’s WISfans© NFT platform keeps fans engaged on and off the field through a digital ‘clubhouse’ ecosystem that taps into sport franchise’s fanbase, centralizes and curates the massive amount of content (blogs, match reports, videos, photos, fan-supported social campaigns, Twitter, Facebook, and sports forums), and injects ongoing exclusive additional content provided by the team and its players.  WISfans NFT platform also helps creating blockchain interoperability between different blockchain-based football clubs using WISeKey’s decentralized marketplace for physical and virtual assets. The WISfans marketplace will include NFTs to represent the physical assets (extensive range of signed football memorabilia includes autographed football shirts, photos, balls, programs, boots, and goalkeeping gloves from the world’s top players, etc.) and/or digital assets combined with fungible tokens for more fluid price discovery and enable staking on assets.

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