【NFTCloak】Linkage to company service IDs is also possible! NFT Wallet service that companies can easily add to their own services
NFTCloak is an NFT wallet that anyone can easily handle.
Good morning.
This is Mitsui from web3 Researcher.
As I mentioned in Substack Chat, I have been a bit sick and stopped updating for about 2 days. I finally recovered and will start writing research articles again from today 🔥.
Today, I researched about "NFTCloak".
"Table of Contents".
1、What is NFTCloak?
- Usage scenarios
- The Team
2、Is web3-ization of existing customers the way to mass adoption?
What is NFTCloak?
NFTCloak is an NFT wallet that anyone can easily handle. It is a wallet service that companies introduce when they want to use web3 for their business, and users can link their accounts with SNS accounts or existing service accounts.
In other words, it is possible to open a wallet for a company's own service by linking it to the ID of the service the company originally owns. This is an image of an easy wallet extension on the company's service.
In addition, the service uses a contract wallet that allows users to receive NFTs without paying for gas and without managing private keys.
This allows companies to consider implementing web3 in a risk-free manner while leveraging their own customer base.
■Usage Scenes
In addition to simple NFT sales and distribution, POAPs, token gates, and coupons can be used in a wide range of applications.
It also supports a wide range of distribution methods,
Distribution over the Internet
Distribution via QR code
Distribution using NFC
Distribution using beacons
Distribution by location information
The most suitable distribution format can be selected according to the intended use, for example, by using a QR code or a beacon.
The use of the system is expanding, as seen in the use of digital torekas for "HIGH CARD" currently being broadcast as an animated TV series.
■Team
The management company is "Playthink Inc.", a company with a proven track record in blockchain game development.
The company develops Japan's first J-League licensed blockchain games and operates blockchain game media. Tresaca J-League" is the No.1 LINE NFT game category in terms of transaction volume.
In addition, Playthink has members from diverse backgrounds, including a manager who has experience as the president of a publicly listed company, a producer with more than 10 years of experience at a social game company, a highly skilled engineer, and a financier who led a venture company to a public listing.
They felt that if they developed services such as "Tresaca J-League" using the LINE Blockchain, they could take it to mass adoption, but this was not the case, so they started developing their own platform (NFTCloak).
It has just been released and we look forward to its further development.
Is web3-ization of existing customers the way to mass adoption?
From here, I will write about my impressions based on my research.
Personally, what I found interesting about NFTCloak is that it can be linked to the IDs of existing services. Since the wallet function can be added directly to the company's own service, users can easily use it as if a new function is added to the service they have been using, rather than using a new service.
For example, Amazon's entry into the NFT market has become a hot topic. Just by Amazon launching NFT for its own users, billions of people will join the NFT industry as new users at once.
In another case where reddit, a major bulletin board social networking site, distributed NFTs to its users, users received them without knowing they were NFTs, and it was reported that millions of users became NFT users at once.
Thus, if a service that already has a user base utilizes web3, those users will flow into the web3 industry at once. This is an approach to convert existing users to web3, rather than to develop new users.
We felt that this strategy was very effective toward mass adoption of web3. Above all, from the perspective of the company introducing the service, it is easy to introduce because it is a wallet that uses the company's own ID. This is a win-win situation for both parties, and we may see an increase in the number of cases in which NFTs are being used before we know it.
It is a very interesting approach, and we will continue to pay attention to it!
That's all for now, we would appreciate it if you could help us by liking, commenting, and sharing this article on social networking sites. Thank you very much for taking a look!
«Reference Link»
Disclaimer: This is written after careful examination of researched information, but since it is privately operated & the source is often in English, there may be some mistranslated or incorrect information. Please understand that some information may be mistranslated or incorrect. Also, we may introduce Dapps, NFTs, and tokens in the articles, but we do not have any solicitation purpose. Please purchase and use all at your own risk.
Writer
mitsui@web3researcher
Daily information about web3 (projects, news, explanations of vocabulary, interviews with project owners, and articles about learning and thinking from research).
I run a web3 based Substack with over 1,000 subscribers in Japan. If you have a project that you would like to expand for Japan, please contact me on Twitter.
※This is a translation of a Japanese article, so I apologize for any unnatural English.