NFT largely unknown – for how long yet? · IT finance magazine

A Bitkom survey showed that two-thirds of the population had never heard of Non-Fungible Tokens (NFT). In addition to the crypto community, the unique digital assets are known in, among other things, the music scene. Now the operators of the Hockenheimring have also announced their entry into the NFT industry.

Snart vil der være Hockenheimring virtuelt i digitale spil - og digitale ejerandele som NFT'er.  <Q>Hockenheim Ring “width =” 1200 “height =” 800 “srcset =” 1200w, https: // www / wp-content / uploads / 2022/05 / Hockenheim-Ring_Aufmacher-350×233.jpg 350w, Ring_Aufmacher-1080×720.jpg 1080w,×467.jpg 700w, wp-content / uploads / 2022/05 / Hockenheim-Ring_Aufmacher-332×221.jpg 332w “sizes =” (max-width: 1200px) 100vw, 1200px “/><figcaption id=Soon there will be Hockenheimring virtually in digital games – and digital ownership shares as NFTs. Hockenheim Ring

Scooter, Till Lindemann and Haftbefehl have already done so: They sell music and music art as NFTs (Non-Fungible Tokens), unique cryptographic tokens that represent a certain asset as digital disposables. In addition to the music scene, NFTs are currently experiencing real hype, especially in the art market and in gamer communities. But what about outside these areas?

Many NFTs pass by

In a representative survey of 1,003 German citizens aged 16 and over, the digital association Bitkom wanted to know: “Have you ever read or heard of the term non-fungible token, or NFT for short?” As it turns out, the subject is completely unknown to the majority of Germans or partly still foggy.

Two-thirds (68 percent) have never heard or read about NFT. About every ninth (11 percent) knows the term, but does not really know what it means. Only 7 percent have a vague idea of ​​NFT. Only one in 20 Germans, ie only 5 percent, think they know enough about the NFT to be able to explain to others what it means.

The digital association therefore explains as clearly as possible what it is about:

<Q>Bitcom “width =” 250 “height =” 349 “srcset =”×489.jpg 350w, https: //×464.jpg 332w, /05/Benedikt-Faupel_Bitkom-500px.jpg 358w “sizes =” (max-width: 250px) 100vw, 250px “/><figcaption id=Bitkom

NFTs use blockchain technology to provide decentralized, unchanging digital proof that you own something. It can be digital works, but the registration document as a digital certificate of ownership for a car can also be mapped as an NFT. ”

Benedikt Faupel, Blockchain expert at Bitkom

In addition, there is the possibility that artists can, for example, sell original works directly to interested parties via NFTs. In the end, cryptocurrencies offer significantly more possible applications. In principle, they can assign a unique owner to each digital object.

More idea than knowledge

None of the respondents had ever bought NFTs themselves. Of those who had already heard of non-fungible tokens, one in six would like to change it – but do not know how to do it. A fifth rejects a purchase due to unclear legal and tax framework conditions. Nearly half expect the hype to subside soon. A quarter have no idea how NFTs work.

In addition, two-thirds (67 percent) believe that the possibilities for use are still in their infancy. One-fifth (20 percent) assume that they will soon come into contact with NFTs in everyday life, for example as a digital maintenance log for devices or as a digital proof of ownership. 17 percent can imagine that NFTs can serve as a long-term investment. One in six believe that NFTs can be used to show their connection to a brand or an artist.

For gamers and racing fans

NFTs may receive more attention from a wider population in the near future. Because digital cryptocurrencies build bridges from the real world to the digital universe, the so-called metaverse.

An example is given by Hockenheimring (website). The German race track in Baden-Württemberg has just entered into a partnership with Animoca Brands, a provider of blockchain racing games (website). The company will integrate the Hockenheimring into various products in the REVV Motorsport ecosystem, as well as produce and sell NFTs that represent an ownership interest in the Hockenheimring within the REVV ecosystem.

So fans can ride on the virtual Hockenheimring, but they can also trade stocks on the track – and even make money on it. Like the investors in a real estate fund, the NFT owners of the Hockenheim Ring should also receive a share of the income. Holders of Hockenheimring NFTs must passively receive a share of entry fees, sponsorship fees and / or event revenue generated on the virtual circuit. The partners announced that this applies to all REVV-based games that include the Hockenheimring.

<Q>Hockenheim Ring “width =” 250 “height =” 350 “srcset =”×490. jpg 350w,×465.jpg 332w, https: // de / wp-content / uploads / 2022/05 / Jorn-Teske-GF-Hockenheim-Ring_560px.jpg 400w “sizes =” (max-width: 250px) 100vw, 250px “/><figcaption id=Hockenheim Ring

The fact that we are now one of the first officially licensed REVV Motorsport racetracks emphasizes, on the one hand, the strength of our brand and, on the other hand, gives us access to completely new target groups and a new dimension of fan engagement. The financial potential that follows from this for us as a licensor also makes it all extremely interesting as a business case. ”

Jorn Teske, CEO Hockenheim Ring hj

You can find this article on the Internet at the website:

Leave a Comment