In this article, we will explore the significance of checking a non-fungible token (NFT) utility status and how the redemption checker can streamline the process for both creators and buyers.
Why is it Important?
When considering the purchase of an NFT, buyers often want to know if certain utilities or benefits are associated with it. For instance, a buyer might be interested in an NFT that grants access to a dream event. By checking if the ticket has already been redeemed, interested individuals can choose an NFT that still offers the desired utility, ensuring they acquire the NFT with the desired benefits.
Another notable example that underscores the importance of utility checking is the launch of ApeCoin, where Bored Ape Yacht Club and Mutant Ape Yacht Club owners could redeem tokens with their NFTs. Yuga Labs allowed users to check on their website whether the NFTs had already been used to retrieve the tokens. Consequently, NFTs that could still be used to retrieve the tokens held greater value than those where the tokens had already been redeemed.
By incorporating an NFT redemption checker, creators can offer transparency and enhance the overall buyer experience. Buyers can have confidence in their purchases, knowing precisely what they are acquiring and the additional benefits they can enjoy.
Case Examples with Percs
The world of non-fungible tokens (NFTs) has opened up exciting opportunities for creators and collectors alike. These unique digital assets hold inherent value and can represent ownership of various digital or physical items, as well as provide access to exclusive experiences and content. However, it is crucial to ascertain whether an NFT has already fulfilled its utility or if it offers access to exclusive perks or content before making a purchase. To simplify this process, the implementation of an NFT redemption checker becomes essential. That's why we offer this solution for brands that tokenize their NFTs with Percs.
Numerous NFT projects have successfully employed redemption checkers to enhance user experiences. Let's explore a few notable use cases.
1. Blockchain Bandicoot (Access):
The Blockchain Bandicoot project offered a free comic book to NFT holders. By implementing an NFT redemption checker, individuals interested in the comic book could verify their eligibility. So they are able to check the NFTs on OpenSea, copy the Token ID, and check on their website if that NFT already retrieved the comic book or not. This streamlined process ensured the efficient distribution of the comic book to the rightful owners and created a sense of exclusivity for the NFT holders.
2. Spottie Wifi (Discount):
Spottie Wifi, a music artist, offered a discount on a vinyl record to NFT holders. With the redemption checker, buyers could validate their ownership and receive a discount. This incentivized individuals to acquire the NFT and take advantage of the exclusive offer, benefiting both the artist and the collectors.
These examples showcase the versatility of NFT redemption checkers, which can be utilized for giveaways, limited discounts, or granting access to exclusive products or experiences.
Adding the Redemption Checker
To facilitate the integration of an NFT redemption checker, PERCS, a service provider in this domain, offers a straightforward process. Clients can add code snippets to their Shopify store, allowing them to customize the user interface to match their branding. The entire setup process takes less than five minutes and only requires a copy-paste operation, no coding is needed!
For detailed instructions and guidelines on adding the redemption checker, please visit the PERCS website at the following link: Instructions
Tokengate utility to your NFTs.
Take control of your NFTs and unlock their full potential with PERCS. Don't miss out on the opportunity to tokengate your digital assets, provide exclusive perks, and enhance the buyer experience.
Whether you're a creator or a collector, PERCS offers a seamless integration process, allowing you to customize your Shopify store and add an NFT redemption checker in less than five minutes.
Visit our website now and empower your NFTs with PERCS, and If you have any questions please reach out to builders@getpercs.com. Join the revolution today!
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