With the announcement of SIMBA’s new “Your Community” NFT Marketplace, we thought it might be helpful to clarify how we’re uniquely contributing to this booming industry. Let us explain in simple terms what we’re offering:
THE QUICK SUMMARY
The SIMBA “Your Community” NFT Marketplace is a full extension of your organization’s institutional brand. Unlike “mass market” NFT platforms that center on the platform’s brand, our marketplace puts your brand at the center of an exclusive ecosystem. As a result, our approach allows your organization to directly benefit from market insights, extend your existing data, and enable security and trust with your community stakeholders.
What are the key elements of our approach?
First off, the marketplace is exclusive to your organization’s own brand, not that of a bigger platform or aggregator. In what may be commonly called a “white-label” offering, the “Your community” marketplace centers your brand, enabling your organization to drive the user experience, explain why you are unique, and directly engage your current and future customers and stakeholders. You can showcase your portfolio of unique digital offerings, be they collectibles, artwork, experiences, gaming items, or anything else you would like to wrap into an NFT.
If brands are about public perception, institutions are about demonstrating unique capability and persistence that aspires towards permanence. With the example of several large digital platform aggregators that dominated the “Web 2.0” era with near monopoly control of markets, data, and capabilities, we believe it’s important that the same mistake isn’t repeated in the still nascent NFT space.
Our approach empowers your institution to hone your own craft by enabling you to receive customer and market insights that augment your data, not that of a large platform aggregator. To promote trust, we provide an NFT minting capability that guarantees industry-leading security. Finally, we provide optionality so you can avoid lock-in on a single blockchain network or off-chain file storage network. We currently support minting on 9 different blockchain networks, including environmentally cleaner “green” blockchains, with many more blockchain networks to come on our roadmap.
Communities go beyond the physical and virtual walls of your institution. Paraphrasing the saying, “Without a community, you are a commodity”, a strong community enables you to engage more broadly and fully with the public and your key stakeholders. You might even consider it “your extended institution”. For NFTs in general, community is both an input and an outcome. For example, NFT marketplaces can provide liquidity to unique and otherwise hard-to-liquidate assets. A cohesive community of people with a like-minded affinity for your brand can support that goal. Conversely, NFT marketplaces can also strengthen your community by enabling you to add value to members and empowering members to add value themselves. Ultimately, it’s community that augments and enhances the permanence of your institution.
That’s why at SIMBA, we embrace payment optionality, where your NFT customers can pay using either crypto or more mainstream payments methods. We understand your community is diverse and not everyone is fully on board with cryptocurrency and crypto-wallets. Additionally, our infrastructure enables you to easily integrate with your other customer engagement and identity systems and ultimately support omnichannel marketing. Moreover, we employ some of the most rigorous methods to secure your NFTs, so your customers can trust the permanence of what they’ve purchased. We are doing much more to embrace the importance of community, with these being just three examples. Contact us if you’d like to further discuss.
Key Questions to ask when considering a prospective NFT marketplace partner:
- What is their history of working with major institutions?
- Do they embrace payment optionality that supports both crypto and traditional payment methods?
- Do they avoid network lock-in by providing optionality across different blockchain networks, including more environmentally-friendly networks, now and in the future?
- How do they guarantee security and trust in the NFT being minted?
- Are they building for the future beyond NFTs by integrating other blockchain-related technologies, such as tokens, smart contracts, and metaverses?