What do you think of owning digital art? More often than not: a Jpeg file is stored on a server or your computer. However, when it comes to phygital NFTs, they replicate real-world assets (like artwork) on a blockchain network. Authenticity and sincerity are some of the use cases of phygital NFTs that could possibly persuade an influx of investors in upcoming years. 

Vital to its prominence, we think, is a professional phygital NFT studio that crafts and embeds value in portmanteau NFTs (also known as Phygital NFTs). Are you an entrepreneur reading this blog? Read along as you may perceive a potential business model at the end.

Why Should You Launch A Phygital NFT Studio?

NFT space, as we all know, has come a long way – ever since the first-ever NFT launch in 2014. However, it reached new heights in 2021, becoming a $40 billion market with flying colors. Since the turn of this year, NFT space was at the brink of transformation – embracing the portmanteau concept (blending physical and digital NFTs). But wait – what spurred the change, you may wonder?

“Utility crisis in the NFT space will spur the need for the Phygital NFT economy.”

NFT craze continues to rise each day as there are approximately 114k NFT projects (available on Ethereum alone – as of June 21st, 2022). Unfortunately, not many projects behold the lucrative utilities that NFT enthusiasts crave. Some projects even have little-to-zero utilities in the utility-driven NFT space. 

NFT projects embed utilities in many ways, including short-term, long-term, and much more. Sportzchain is one such blockchain-based platform launching a phygital asset, serving as memorabilia of sporting achievements. Moreover, phygital NFTs needn’t just hold value in the NFT space but also in Metaverse (as well). 

Some of the NFT Studios Empowering Metaverse

• CryptoMotors

The first digital automaker in the world, CryptoMotors focuses on full user ownership and high interoperability while producing top-notch digital NFT cars for the Metaverse.

Luxury digital automobiles are created by CryptoMotors using the most recent blockchain technology and professional automotive design, and customers may enjoy them on numerous video games, dapps, platforms, and virtual worlds.

• Voxel Architects

With the help of Voxel Architects, anyone or any company can establish a presence in the Metaverse by designing and erecting 3D structures in the top virtual worlds.

By designing innovative buildings and structures with various architectural styles and aesthetic currents, Voxel Architects develops distinctive, significant, and engaging virtual experiences.

• Purebase

It is an NFT studio that bolsters an ever-growing list of brand NFTs with a curated list of projects. Purebase is one NFT studio that thinks long-term for the good of artists and collectors.

• Could Be Yours

The list of prominent NFTs is unending. Even amidst such competition, you can build your Phygital NFT studio and empower truly utility-driven NFT projects. All you need is a viable idea & roadmap – defining how your studio will unfurl and manage stuff. Creating a community around venture and bestowing stability is one way you could future-proof your studio. 

Democratize NFT Creation

Non-fungible tokens (NFTs) are blockchain-linked digital assets possessing ownership details. The NFT creation process can be tech-intensive, especially for first-timers. However, the self-serving NFT studios simplify the process with drag-and-drop functionality. Who knows – building your NFT Production studio could engender WordPress’s alternative in the Web3 space.  

“Phygital NFT Studios Engender Mainstream NFT Adoption.”

Democratizing the NFT production is quintessential because that’s when the industry could embrace mainstream adoption. Now imagine – when an independent artist decides to tokenize his highly-acclaimed digital artwork, but only to be seen wondering the way. However, with a no-code NFT studio, the artist could create his own NFT within a span of a few minutes. 

A conglomeration of Multi-billion Dollar Markets

Phygital NFT studios could merge three modern-day concepts: NFTs, metaverses, and physical collectibles. While building one such studio, you should partner with a professional NFT studio development company to add valuable utility to the NFTs.

Even though it’s unclear how Metaverse will develop, some NFT technology will be helpful. This interconnected virtual environment is made possible by advancements in NFT, which together form NFT studio. However, you might require assistance from a tech specialist for you to participate (in it). The NFT design laboratories, which guarantee a productivity plateau with large adoption, will power the NFT metaverse.

Conclusion

Digital studios are witnessing hard times reaching out to their target audience. Everything now is based on community rather than some old-fashioned strategies. As a result, traditional studios are foraying into the NFT space, with TIME studios being one of the prominent examples. Phygital NFT studio is a serious opportunity not just for entrepreneurs but also for existing studios.