Crypto is currency, NFTs are everything else.
5 years ago, I predicted that every single digital product would eventually be an NFT – and nearly every physical product would be backed by one as well.
Though this hasn’t come to fruition yet, NFT adoption is continuously gaining steam and I still stand by it with full resolve. Why? Well, mostly because immutable products that you can own forever and trade on the blockchain are better in every way than those that aren’t… but also because history is forged by the builders. By us.
With that in mind, I am beyond excited to unveil Redlight’s new partnership with Physical Utility – a project that is laser-focused on bringing the benefits of NFTs and true asset ownership to the realm of the physical…and beyond.
Let me be clear: this is a completely organic partnership, not an investment. We’ve had some great meetings with the team at Physical Utility and they have chosen to join Redlight Chain based solely on the strength of the team, the tech, the community, the roadmap, and the support network. They love what we’re all building together here in the Redlight ecosystem, and are eager to build with us.
Physical Utility plans to be the one-stop-shop for all IRL NFTs. They have been working with NFT creators of all sizes, from $10 to $10,000,000 in volume and their product lines currently include metal decor, canvas prints, glass prints, apparel, and accessories.
The team has already partnered with Infinity Realms to launch a metal art print that contains yet-to-be-revealed secrets, and the quality is phenomenal. Now, Physical Utility is partnering with Redlight Chain and MyMetaverse to unlock some truly incredible, next-level innovations.
Redlight has always promised to bridge the gap between our every day lives and Web3. Now, thanks to Physical Utility, we’re integrating Web3 into the physical world.
As of today Physical Utility will begin to offer an NFT counterpart to its physical merch, using Redlight Chain and MyMetaverse’s MetaDrops system.
The first NFT to be sold through Physical Utility’s platform was created by the MyMetaverse team, but soon, ANY creator will be able to use MyMetaverse to mint NFTs and create MetaDrops to distribute their work.
Every one of these NFTs that is minted through MyMetaverse is and will be on Redlight Chain.
MetaDrops allows creators to distribute NFTs via a click-and-collect function, so all the creator needs to do is send the purchaser an email that contains a unique redemption URL.
Here’s how it works:
MyMetaverse will also provide Physical Utility with a whitelabel version of its minting panel, so creators will be able to create NFTs and physical products simultaneously directly through Physical Utility’s platform.
Owning physical items that look exactly the same as your digital items will create a new level of sentimental value for your gaming items. That vault of digital treasures you collect throughout your epic adventures now has the ability to transcend your cyber life and have a place in the real world - and vice versa.
Physical Utility will be able to leverage Redlight Chain and MyMetaverse’s API to get their NFTs integrated into Web2 and Web3 games with ease. We’re shattering the barriers of the physical and the digital in so many ways, and the possibilities are endless.
Right now, Physical Utility can already create art and home decor that can simultaneously be integrated into games as in-game art. In the future, they will also be offering physical 3d Models of gaming items, metal trading cards, and a variety of other collectibles.
Think about the brand and entertainment partnerships that could be achieved with this kind of technology.
Companies like Nike and Disney are already moving in this direction and have a clear desire for NFT-backed physical goods.
With this partnership, we’re positioning the Redlight ecosystem to be able to work with huge brands and facilitate all of their needs like no other project can.
We believe impulse buying of physical products through games will be huge.
When you’re in an immersive 3D experience and you have the ability to view physical products from all angles, try them on your character and see how they look, or take them for a test drive in a fantastic virtual reality – and then easily click a button to purchase it directly.
These purchases will be facilitated by MyMetaverse’s payment gateway for easy in-game access, while the production and distribution of the physical items will be handled by Physical Utility.
This opens up a whole new world of possibilities, and means players could even earn physical items as rewards for gameplay.
Being able to change people’s real lives for the better through gaming is what we’re all about, and Physical Utility is the perfect partner in this mission.
Token gating is being utilized widely in web3 digital spaces, but why stop there? We really love the concept of walking into an IRL establishment, proving your ownership over an NFT and gaining some kind of access, discount, or freebie for doing so.
MyMetaverse has plans to build a robust token gating system, where:
The potential applications of a system like this are incredibly far-reaching, and we’re very excited to see all of the amazing ways it will be used in the future.
The team at Physical Utility share with us the belief that the “why” is just as important as the “what” and “how”, which is why they have such a dedicated focus on philanthropy.
Since their launch, they have consistently given back to the community and delivered aid to those who need it most. They have been donating on average around $1,000 worth of NFTs and crypto every single month through community collaboration initiatives that have further driven thousands of dollars in donations to charity.
Physical Utility is a project that proves their dedication to building a better future through action – something we echo wholeheartedly and a mission we are excited to stand united on.
The movement towards physical NFTs is going strong and building exponential momentum. Huge companies like Square Enix, Adidas, Tiffany, Gucci, and more have embraced the concept and are pushing the limits of realities - and we’re ready to help them achieve new heights of both digital and physical utility.
We’re incredibly excited to support Physical Utility in its quest to bring NFTs to mainstream audiences through IRL products and experiences, and we can already tell that this is going to be a long and fruitful relationship.
Are you ready to blur the lines between realities with us?