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NFT Tech

The Most Important Word in NFTs, According to Jack Settleman

When I first wrote about NBA Top Shot, one of the reasons I was, and still am, so attracted to the product is the utility of it. There are so many different uses for NBA Top Shot and the league is constantly looking to expand the integration of the product. 

So, utility

That brings us to digital horses. 

I can’t believe I am writing that out loud.

When I was growing up, I would go to Dave and Busters quite a bit. Good ol’ D&B. My favorite game was Derby Owners Club.

It was a horse racing game. You could breed, train, and jockey. When you were done, you could store the information of your horse on a ticket. When I returned back to D&B, I could plug my ticket back in and all of that information was saved. I had a horse. I had my jockey. I could pick up where I left off from during my last trip to Dave and Busters. 

This week, everything came full circle. 

Some of you may have seen that I have been tweeting heavily about digital horses and a site called zed.run.

Zed.run has the breeding. Zed has the racing. And the third element is that you can bet on the actual races with fake money, but in the future, the assumption is that you will be able to bet with real money. 

Instead of going out and buying an actual horse, hiring a jockey, and needing a ridiculous amount of money… I could own a digital race horse. 

This is a GREAT example of the importance of utility in NFTs. People want to be able to use and/or incorporate their investments into something useful. 

Like most other NFT market places, there are still problems with the sites themselves. As I said last week, it is early. 

Zed had a drop where you could buy new horses this past weekend and sold out in just a few hours. There were some small hiccups along the way, but that shouldn’t come as a complete surprise. 

This blog isn’t about zed. This is about utility in NFTs. Every week, there is a new way for people to understand how NFTs work. As more and more inclusions to the NFT space are welcomed, I am going to stay focused on that singular word: utility. 

What can I do with it? 

So as we continue to navigate through the early days of NFTs, I want to encourage everyone to keep utility at the forefront of it all. 

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