The rise of NFTs over the past two years has led to significant speculation on the future of the technology. We’ve seen NFTs applied to a spectrum of use cases, spanning physical assets such as real estate and ticketing to digital assets such as gaming and collectibles, but few have successfully connected culture to a broad set of users in order to create mainstream demand.
Brands that have looked to enter this new paradigm of digital ownership have struggled to find their footing in the Web3 space. Many attempts have failed either because they were unable to appeal to a Web3 audience or excite their current consumer base with a digital offering. Put simply, most established brands have difficulty adapting to the Web3 space, as it requires them to adopt new technologies, extend new products, and innovate beyond their comfort zone.
One person who is not afraid of combining frontier technology with consumer products is Spatial Labs’ founder Iddris Sandu. Iddris has spent his entire career at the intersection of technology and culture. He’s worked with superstars such as Beyoncé, Jay-Z, Rihanna, Nispey Hussle and Yeezy, on a litany of multi-hyphenate projects to bridge the gap between technology and culture. Over the past several years, he’s been instrumental in creating sustainable products that people want while imbuing them with additional utility, and there are few closer to culture than he is.
Sandu’s Spatial Labs is dedicated to building the hardware infrastructure that will power the next generation of web3 technology and will enhance physical products with digital utility. With Spatial Labs proprietary LNQ One Chip, brands can create digital experiences that integrate with their physical products, creating new channels for engagement with customers. This provides a much fuller consumer experience while also offering brands richer data to continue improving their products. The combination of physical goods with digital provenance is an exciting use case for NFTs, as brands can leverage digital assets to provide discounts, give access to exclusive products, and foster deeper consumer loyalty. Iddris’ eye for design and passion for disruptive technology, position him well to capture value in a digital meets physical future.
Disclaimer: Blockchain Capital is an investor in Spatial Labs.
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- Source: https://blockchain.capital/from-physical-to-digital-the-role-of-spatial-labs-in-the-future-of-nfts/