What is a NFLT? The NFT market is flooded with digital artwork, but beside pictures, music and tweets, are there NFTs that could actually create recurring revenue streams?
A new class of NFTs, called NFLTs, promises to do exactly that.
NFLT stands for “Non-Fungible License Token” and while most currently available NFTs have a rather limited use (e.g. art collectibles), NFLTs go a step further and provide the owner with additional contractual rights and responsibilities. This is highly interesting for startups and companies that count on local representation such as area managers, franchisees, licensees, sales agents, distributors, and support teams – people that are not actually hired, yet still contribute in one way or another to the success of the company, e.g. by fulfilling microtasks.
A smart contract does not only determine the details, rights and responsibilities of the parties, but also takes care of revenue shares, royalties and commissions, and automatically sends them to the wallet of the current owner of the respective NFLT license.
While traditional onboarding requires time-consuming and expensive contract work (sometimes with attorneys and notaries involved), NFLTs are a quick and easy way to mandate, authorize, and compensate said representatives. And if there is a change in personnel, all bureaucratic work is handled by the smart contract – simply by the change of ownership inherent with the transfer of the Non-Fungible License Token.
Can NFLTs be traded and is it worth it?
Yes, technically, NFLTs are regular NFTs, so they are tradable on any suitable NFT marketplace such as OpenSea or Crypto.com. Since most NFLTs are expected to come with recurring revenue streams, NFLTs could be the next big thing in the crypto & blockchain space, resulting in a high demand (just imagine you were a local representative for Apple 10 years ago – including commission on every sale recorded in your area for only answering a few questions per day).
However, especially the responsibilities need to be checked carefully. If you’re not sure you’re able to fulfill your microtasks, better pass this time. Otherwise, and if you’re positive about the future of the company and if the NFLT is affordable, it’s a it’s a no-brainer!
NFLTs have the potential to further push decentralization and democratization of startups and corporates, and increase engagement of their user base or customers. We’re curious to see the first projects implementing NFLTs.
Where can I buy NFLTs?
Their AI evaluates game-changing startups & companies, and identifies high-potential projects and ideas. Supporters can acquire exclusive licenses (NFLTs) for high-potential startups and companies. By completing microtasks outlined in the respective project description, they earn the right to revenue shares and commissions. The NFLTs are fully tradable on regular NFT marketplaces.
To reward early birds, as well as to reduce the overall risks, a NFLT is available for as little as $1 – with a steady price increase of $1.