Non Fungible Tokens (NFTs) have become an important niche within the world of digital assets. Organisations, brands, artists and performers use NFTs as an innovative way to connect with customers and fans. Amdax facilitates the issuance, storage and compliance of issuing NFTs for organisations.
NFT stands for Non Fungible Token. It is a type of digital certificate of ownership that links to a digital object. Each NFT represents a unique digital object, for example, a piece of artwork or a music album. An NFT is unique and irreplaceable, and it proves the ownership of a digital object. This ownership is recorded on the blockchain. NFTs are rapidly growing in popularity, especially in gaming, the art world, the music industry, and the Metaverse.
Tokenisation of items and objects
NFTs give objects a unique digital identity. By capturing the ownership of an object on the blockchain, you give the object a unique digital identity. We call this tokenisation. This makes it possible to prove ownership of authenticity of works of art, music, software and real estate, among others.
It is also possible to divide objects into smaller pieces. Take a painting. Normally, you cannot split a painting up and sell it to different people. When you tokenize it on the blockchain however, you can divide it into smaller pieces, and sell those pieces to different parties. Each buyer then possesses a small piece of 'ownership' of the painting.
With your own NFT collection, you can draw attention to your brand in an innovative and creative way. It's a new way to enhance brand experience and customer engagement. NFTs offer the opportunity to create personalized experiences and thereby stimulate customer loyalty. More and more major brands, including Nike, Gucci, and Coca-Cola, are releasing their own NFT collections.
Our House Museum, supported by Amdax, has issued 'keys to the museum' in the form of 1,980 unique digital ownership certificates (NFTs). Owning an Our House NFT provides membership of an exclusive community and access to private events and private event ticketing. Holders can store the NFT themselves or in Amdax's professionally secured vault.
The NFTs also give creative control over part of the exhibition. By logging in with the digital keys, the holder can upload photos and videos. This footage immediately becomes part of a dynamic artwork that is permanently displayed in the museum. Because the NFTs are freely tradable, it creates a living exhibition where everyone can be a co-curator.
With an Our House NFT, you also participate financially. Several times a year, a snapshot of the living artwork is taken and auctioned off as an NFT. Each key holder receives a share of the proceeds.
After launching a collection on an NFT marketplace such as OpenSea or BLUR, it is important to handle the proceeds of the project properly.
Owners of NFTs have the option of trading their digital assets on well-known marketplaces such as OpenSea. The project can be set up so that with each successive sale of the NFT, part of the proceeds flow back to the project in the form of royalties. This not only stimulates trading but also the growth and development of the collection.
Through our infrastructure, we help organizations and brands to set up this process. For instance, by automatically converting received royalties into euros. Together with Chainalysis, we take care of the risk management of (future) legal obligations. This way, you can be sure that your NFT project complies with all current and future laws and regulations.
The services of our NFT solution
After the launch and minting of your NFT project, all income generated from the minting is deposited in your Amdax wallet. Ethers are stored securely in our full-reserve vault. We use advanced security measures, such as multi-party computation (MPC), to protect the assets in our vault from theft and hacks. We also offer both hot and cold custody solutions.
After NFTs are minted, owners can trade the NFT on platforms such as OpenSea or BLUR. The royalties you receive as a project after the resale of NFTs automatically end up in your Amdax wallet. These revenues are also kept safe and full reserve.
Quickly converting large amounts of cryptoassets to fiat can be a complex process. At Amdax, you quickly and easily convert crypto assets to euros and always transact within the framework of current and future laws and regulations.
Trade easily and with deep liquidity on our professional platform. Want to earn extra yield? Put your ETH in on-chain staking on a private node.
Store, trade, and stake your NFT rewards on our professional infrastructure. Crypto assets are securely stored and covered in our digital vault. We collaborate with the best partners in the industry to minimize risks and optimize profitability.
Amdax was the first crypto service provider to receive a registration from De Nederlandsche Bank. We follow strict procedures to comply with laws and regulations. By collaborating with Amdax, you can be sure that your NFT project complies with all current and future laws and regulations.
Partner Working with an established party like Amdax gives your NFT project legitimacy, visibility, and expertise. We are happy to contribute to the success of your NFT project.
Want to know more about our NFT solutions or explore the business services we offer? Make an appointment with one of our business experts. In a personal meeting, they can tell you all about the possibilities.