Get ready to discover the revolutionary world of Utility NFTs! If you’re a part of the NFT community, you’ve probably heard the term “Utility” being tossed around lately.
But exactly what are Utility NFTs, and how to add utility to an NFT? That’s what we’re here to talk about today.
Gone are the days when NFTs were simply used as digital collectibles. Today, we have Utility NFTs, non-fungible tokens with a specific use or utility beyond being a collectible.
We know that the world of NFTs can be confusing, so we’ve put together this guide to help you understand what Utility NFTs are and how you can add utility to your own NFT.
Plus, we’ve got 15 unique ideas to help get the creative juices flowing. So please sit back, relax, and let’s dive into the exciting world of Utility NFTs together!
Table of Contents
What are Utility NFTs?
Utility NFTs, also known as functional NFTs, are a type of non-fungible token that have a specific use or utility beyond being a collectible item. They can be used to represent anything from virtual real estate in a video game to access to a concert or event to membership in a club or community.
For example, imagine an online gaming community allowing players to buy and sell virtual real estate. Each piece of land represents a unique utility NFT that enables the owner to build and customize structures on that piece of land.
Another example is a music festival that uses Utility NFTs as a way for fans to gain access to exclusive experiences or meet-and-greets with their favorite artists. These NFTs could also vote for upcoming performances or give fans special perks such as backstage passes.
How do Utility NFTs Work?
Utility NFTs leverage blockchain technology to create a unique digital token representing a specific asset or access to a particular service or experience. These tokens are stored on the blockchain, which provides them with an unchangeable digital signature that verifies their authenticity and uniqueness.
For example, a virtual real estate NFT would be created and stored on the blockchain, and whoever owns the NFT would have the ability to access and customize the land in the game.
Similarly, a music festival’s NFT could have a smart contract embedded, which, being scanned at the event gate, would allow the bearer to enter the event.
What does NFT Utility Mean?
The term “utility,” when used in the context of NFTs, refers to the specific use or purpose that the token serves. This can be anything from providing access to a service or experience to granting ownership of a digital asset.
For example, a utility NFT that gives you access to a virtual concert would be “useful” because it allows you to experience the show. In contrast, a collectible NFT of a digital artwork would have no utility beyond its value as a collectible.
In short, NFT utility means the functional value that the token holds and enables the holder to do something specific. This utility can be anything from gaining access to a concert or event to owning a piece of virtual real estate or having a vote in the decision-making process of a community.
How to Add Utility to an NFT Collection?
If you’re an NFT collector or creator, you’re probably well aware of the incredible potential that these digital assets hold. But have you ever thought about taking your collection to the next level by adding utility to your NFTs?
That’s what we’re going to talk about today.
Let’s go through the steps you need to take to add utility to your NFT collection. You’ll then be able to create NFTs that are not only collectible but also useful in some way.
Step 1: Define the Function of Your NFT
The first step in adding utility to your NFT collection is to identify the purpose of your NFTs. What do you want your NFTs to do? What kind of value do you want to provide to your users?
The key is to think beyond just making your NFTs collectible. Instead, focus on what your NFTs can do for your users.
For example, it could be access to exclusive content or experiences or a way to gain ownership of a unique digital asset.
Step 2: Pinpoint the Utility You Wish to Provide
Once you know what you want your NFTs to do, it’s time to determine the exact utility you wish to offer. This could be anything from providing access to exclusive content to granting ownership of a specific digital asset.
For example, if you’re creating an NFT for a virtual concert, your utility could provide access to the concert for those who hold the NFT.
Or, if you’re making an NFT for a piece of virtual real estate, your utility could give the owner the ability to build and customize structures on that piece of land.
Step 3: Take Into Account Your Ideal Owner
When adding utility to your NFT collection, keeping your target audience in mind is essential. What do they need? What will they find valuable?
By understanding your target audience, you’ll be able to create NFTs they want to interact with and use.
Step 4: Opt for a Blockchain That Suits Your NFT
Next, you’ll want to choose a suitable blockchain to create your NFTs. Not all blockchains are created equal, and each one has its strengths and weaknesses.
Choosing a blockchain that fits your needs and supports the type of utility you want to offer is important.
Step 5: Create a Promotional Plan
Once your NFTs are created, you’ll want to develop a marketing strategy to promote them. This could include social media campaigns, collaborations with influencers, or hosting events.
The key is to get your NFTs in front of the right people and make sure they understand the value and utility that your NFTs provide.
Step 6: Regularly Revise and Upgrade the Utility of Your NFT
Adding utility to your NFT collection is an ongoing process. It’s important to evaluate your utility and make updates as needed continuously. This could mean adding new features or functionality to your NFTs or changing your marketing strategy to promote your NFTs better.
By continuously evaluating and updating your utility, you’ll be able to keep your NFTs relevant and valuable to your users.
Those are the six steps you need to take to add utility to your NFT collection. Remember, the key is to think beyond making your NFTs collectible and focus on providing value and utility to your users.
Different Types of NFT Utilities
You can use the NFTs for a wide range of purposes. Let’s dive into the different types of NFT utilities currently being explored.
When most people think of NFTs, digital utilities probably come to mind first. These NFTs represent digital assets like artwork, music, videos, and more.
These digital assets can be bought, sold, and traded just like physical assets, but since they’re digital, they can be easily created and shared.
One of the most exciting things about digital utilities is that they’re helping to democratize the art world by allowing artists to sell their work directly to buyers without the need for intermediaries like galleries and agents.
This provides new opportunities for artists and a new way for collectors and art enthusiasts to discover and purchase unique works.
But NFTs aren’t just for digital assets. We can also use them to represent physical assets, like real estate or collectible cars.
These types of NFTs can be used to prove ownership of a physical asset and can also be used to transfer ownership from one person to another.
One of the most exciting things about NFTs for physical assets is the ability to turn physical things into scarce digital assets. This has the potential to revolutionize how we think about ownership and value.
For example, imagine owning a fraction of a famous landmark or even owning a virtual plot of land on Mars. With NFTs, these types of scenarios become possible.
The final type of NFT utility that’s worth mentioning is experiential utility. These NFTs represent unique experiences, like VIP access to a concert or a special meet-and-greet with a celebrity.
These NFTs can be especially valuable for businesses and brands, as they can use them to create exclusive customer experiences, which can help foster loyalty and increase brand awareness.
It is also exciting for the consumers as it gives them a chance to own a one-of-a-kind memory and experience that can’t be replicated, making it more valuable.
Overall, NFTs are a versatile and exciting new technology that has the potential to change the way we think about ownership and value in all sorts of different industries.
As more and more people begin to explore the possibilities of NFTs, we’re likely to see even more creative and innovative uses for these unique digital assets.
How to Add Utility to an NFT? (15 NFT Utility Ideas)
As the popularity of NFTs continues to rise, it’s crucial to think about ways to add utility to them. After all, an NFT is only valuable if it serves a purpose and provides value to the holder.
Here are the 15 best ways to add utility to an NFT and make it more useful.
1. Offer Additional Benefits Such As Complimentary Merchandise
One way to add utility to an NFT is to offer additional benefits such as complimentary merchandise.
For example, if you’re an artist, you could sell an NFT of your artwork and provide a free print of the artwork to anyone who buys the NFT.
This not only adds value to the NFT but also helps to create a deeper connection between the buyer and the artwork.
2. Provide a Premium Service
Another way to add utility to an NFT is to provide a premium service to your NFT holders.
For example, if you’re a musician, you could sell NFTs that give buyers exclusive behind-the-scenes content, early access to new music, or even one-on-one video calls with you.
These services can be precious for fans and help create a sense of exclusivity around the NFT.
3. Grant VIP Access to Exclusive Events and Gatherings
You can also add utility to an NFT by granting VIP access to exclusive events and gatherings.
For instance, a sports team might use NFTs to give fans VIP access to a game, like a meet-and-greet with players or a stadium tour.
This creates a unique and memorable experience for the holders and increases the value of the NFT.
4. Support a Charity or Social Cause
One way to make an NFT more valuable is by supporting a charity or social cause.
For example, “NFT4Good” is an NFT-based social campaign where 100% of the sales proceeds go towards charity organizations such as #HateIsAVirus and #StopAsianHate charities.
This adds value to the NFT by creating a sense of purpose and helps impact the world positively.
5. Create Opportunities for Exploration in Virtual Reality Events
Another way to add utility to an NFT is by creating opportunities for exploration in virtual reality events.
For example, MultiNFT NFT holders can participate in and experience many metaverse-based virtual reality events such as live parties, musical concerts, etc.
This allows buyers to immerse themselves in the art and have a truly unique experience.
6. Allow Token Holders To Have a Voice and Voting Rights
By giving token holders a voice and voting rights, NFTs can become more valuable.
For example, a company might use NFTs to allow shareholders to vote on important decisions, like the election of board members or major business decisions.
This gives holders a sense of ownership and makes them feel more invested in the company’s success.
7. Reward Holders With Airdropped NFTs
Rewarding holders with airdropped NFTs is another way to add utility and value to an NFT.
For example, a company might airdrop NFTs to its shareholders, which could then be traded or used to access special perks.
This helps to encourage holders to hold on to their NFTs and creates a sense of community among holders.
8. Host a Q&A Session With Holders
Holding a Q&A session with holders is another excellent way to add utility to an NFT. It allows holders to interact directly with the creators or decision-makers and get insight into the creative process.
A VeeFriends Access token allows you to interact one-to-one with Gary Vaynerchuk in person and Admission tokens provide entry to the annual VeeCon conference.
This can effectively build a sense of community and create a deeper connection between the creator and the holders.
9. Provide Early Access or Pre-Sale Opportunities
By providing early access or pre-sale opportunities, NFTs can become more valuable.
For example, a game developer might use NFTs to give buyers early access to a new game, or a film director might use NFTs to give buyers pre-sale tickets to a premiere.
This creates unique opportunities for buyers that they can’t get anywhere else.
10. Enable Redeemability for Unique Experiences or Items
NFTs can also be used to enable redeemability for unique experiences or items.
For example, a musician might use NFTs to give buyers a chance to redeem their NFTs for VIP tickets to a concert, or a fashion designer might use NFTs to give buyers a chance to redeem their NFTs for a custom-made piece of clothing.
This creates special opportunities for buyers that can add value to the NFT.
11. Connect NFTs With Real-World Assets or Property Rights
Connecting NFTs with real-world assets or property rights is another way to add utility and value to an NFT.
For example, a real estate developer might use NFTs to give buyers the ability to purchase a virtual plot of land in a virtual world linked to a physical plot of land in the real world.
This creates a unique opportunity for buyers to invest in both the virtual and physical worlds and increases the perceived value of the NFTs.
12. Bridge the Gap Between the Virtual and Physical Worlds
By bridging the gap between the virtual and physical worlds, NFTs can become more valuable.
For example, a game developer might use NFTs to give players the ability to purchase virtual items. These can be used in the real world, or a fashion designer might use NFTs to give buyers the ability to buy virtual clothing they can wear in the real world.
This creates unique opportunities for buyers to experience the crossover between the virtual and physical worlds and increases the value of the NFTs.
13. Incorporate NFTs Into Virtual Reality Ecosystems
Incorporating NFTs into virtual reality ecosystems is another way to add utility and value to an NFT.
For example, a game developer might use NFTs to allow players to purchase virtual real estate in a virtual world, which you can then use to host virtual events or provide players with special benefits.
This creates unique opportunities for players to experience and interact with the virtual world and adds utility to the NFTs.
14. Allow Token Holders to Participate in DAO
Allowing token holders to participate in Decentralized Autonomous Organization (DAO) is another way to add utility and value to an NFT.
Doodlebank is the Doodles Community Treasury set up with the mission of taking Doodles mainstream and providing support to its collectors through the Doodle DAO. Owners of Doodles can vote on Doodlebank-funded features, products, and events.
This creates a sense of ownership and participation among token holders, making them more invested in the organization’s success and increasing the value of the NFTs.
15. Utilize as a Fundraising Tool
Finally, NFTs can be used as a fundraising tool. For example, a non-profit organization might use NFTs to raise money for a cause by selling NFTs that gives buyers access to special perks or experiences.
This creates unique opportunities for buyers to make a difference while also increasing the value of the NFTs.
The utilities of NFTs are endless. From offering additional benefits to participating in a decentralized organization, there are many ways to add value to an NFT. Experimenting with different use cases and finding what resonates best with your audience is the key to finding the correct utility for your NFT.
Examples of NFTs With Utility
When understanding how to add utility to an NFT, looking at examples of NFTs that have already successfully done so can be helpful. Let’s go through some examples of NFTs that have added utility in unique and innovative ways.
VeeFriends is a social platform that allows users to create and own their 3D avatars known as Vees. These Vees can interact with other users in a virtual world and be sold and traded as NFTs.
VeeFriends adds utility to their NFTs by allowing users to use their Vees to participate in various virtual experiences, such as playing games, attending virtual events, and even earning cryptocurrency.
2. Bored Ape Yacht Club (BAYC)
Bored Ape Yacht Club (BAYC) is a collection of NFTs that feature 10,000 unique, one-of-a-kind apes.
Each ape is randomly generated and can be used to access exclusive experiences, such as virtual parties and virtual travel experiences.
The BAYC also allows its members to vote on the direction of future developments, adding a sense of community and ownership.
3. NFT Academy
NFT Academy is an educational platform that provides courses and resources for those looking to learn about the NFT space.
They add utility to their NFTs by giving token holders access to exclusive content and resources, such as live workshops, one-on-one mentoring, and early access to new courses.
This helps to create a sense of exclusivity and added value for holders and provides them with valuable knowledge and resources that they can use to navigate the NFT space.
GainForest is a Smart Contract aimed at combating deforestation in the Amazon. The GainForest platform uses artificial intelligence and blockchain to enable virtual caretakers to stake funds on the health of forest patches in the Amazon rainforest. This encourages local caretakers on the ground to protect and restore them.
GainForest uses a concept called Non-fungible Tree Tokens or NFTrees.
In conservation and restoration projects, these digital assets represent ownership of sites virtually. NFTrees hold unique data, which can be tracked through satellites and updated in real time.
The Doodles ecosystem is home to humans, cats, pickles, aliens, sentient flames, skeletons, and apes. The traits of Doodles NFTs define their rarity, as they are the case for virtually all generative avatar collections.
Each Doodles owner has a voice in the DAO that governs the entire Doodles ecosystem. Members of Doodles have already been able to vote on proposals for team scaling, live events, funding, and much more.
These examples show that adding utility to NFTs can be as simple as providing access to exclusive experiences or resources or as complex as connecting virtual and physical worlds.
Each NFT projects have different and creative ways to add utility to their NFTs. It’s essential to think outside the box and be creative when finding ways to add utility to your NFTs.
What are the Benefits of Adding Utility to NFTs?
When creating an NFT, it’s important to consider how you can add utility. But what exactly are the benefits of adding utility to NFTs? Let’s discuss the key benefits of adding utility to your NFTs.
Increased Value and Desirability
One of the main benefits of adding utility to NFTs is that it increases their value and desirability. By providing holders with added benefits, such as access to exclusive experiences or resources, you’re creating a sense of exclusivity and added value for your NFTs.
This makes them more desirable to potential buyers and can help to increase their perceived value.
Enhanced Functionality and Usefulness
Another benefit of adding utility to NFTs is enhancing their functionality and usefulness. When holders have more options and abilities to use their NFTs, they will find them more engaging and fun.
This can lead to increased engagement and loyalty from holders, making your NFTs more successful in the long run.
More Engagement and Loyalty From Holders
Lastly, adding utility to NFTs can lead to more engagement and loyalty from holders. When holders feel that their NFTs provide them with value and added benefits, they’re more likely to hold onto them, trade them, or even use them.
This creates a sense of community and participation among holders, making them more invested in the project’s success and increasing the likelihood of them becoming repeat buyers and advocates.
In addition, by providing holders with experiences, resources, and services, the NFTs can become more meaningful and unique to them, which leads to stronger emotional attachment and loyalty.
For instance, when an NFT is linked to a real-world asset, it can open up new possibilities for holders, such as getting access to special perks or even generating income. Providing utility to an NFT can become a powerful and valuable tool for holders rather than a simple collectible.
Adding utility to NFTs can bring various benefits for both the creators and the holders. By providing added value to your NFTs, you’re helping to create a more successful and engaging project for everyone involved.
Potential Challenges and Risks of NFT Utilities
While adding utility to an NFT can bring many benefits, it’s important also to consider the potential challenges and risks that come with it.
Let’s discuss some of the most common challenges and risks of NFT utilities.
Complexity and Cost of Implementation
One of the biggest challenges of adding utility to an NFT is the complexity and cost of implementation.
Depending on the utility type you’re looking to add, it may require significant technical expertise and resources to develop and implement.
This can be a substantial barrier to entry for some creators and may also increase the overall cost of creating and issuing an NFT.
Dependence on External Factors
Another challenge of adding utility to an NFT is the dependence on external factors. For example, many NFT utilities rely on third-party networks, platforms, or services.
This means that if those external factors experience issues, it can negatively impact the utility of the NFTs.
Additionally, if the utility of an NFT relies on the real-world situation, it is also exposed to external factors such as a change in regulations, a market crash, etc.
Legal and Regulatory Risks
There are also legal and regulatory risks when adding utility to an NFT. Depending on the utility type, it may be subject to different laws and regulations, which can be challenging to navigate.
Additionally, regulatory risks can impact the utility and use of NFTs.
Therefore, it is essential to know the laws and regulations that apply to your NFTs and how they may affect the utility you’re looking to add.
Finally, there is a risk that adding utility to an NFT can negatively impact the reputation of the project and the creators.
For example, suppose the utility of an NFT is not well executed. In that case, it can lead to disappointment, confusion, and frustration among holders, leading to bad word of mouth and negative reviews.
This can be particularly damaging for creators looking to build a reputation in the NFT space.
Factors like complexity and cost of implementation, dependence on external factors, legal and regulatory risks, and reputation risks can all impact the success of an NFT with added utility.
Careful planning, execution, and communication can help mitigate these risks and make your NFT successful.
How to Evaluate the Feasibility and Potential of NFT Utilities?
When adding utility to an NFT, it’s important to evaluate the feasibility and potential of the utility before proceeding.
Let’s go through some key considerations to keep in mind when assessing the feasibility and potential of NFT utilities.
Assess the Resources Required to Implement the Utility
The first step in evaluating the feasibility and potential of an NFT utility is to assess the resources required to implement it.
This includes factors such as the technical expertise and resources needed to develop and implement the utility and its associated costs.
It’s essential to clearly understand the resources required to implement the utility to decide whether it’s viable for your project.
Determine the Potential Market Demand for the Utility
Another critical factor to consider when evaluating the feasibility and potential of an NFT utility is its potential market demand.
You’ll want to research and understand your target audience, their needs, and whether the utility you’re considering aligns with those needs.
It’s also important to consider the competition in the market and whether the utility you’re considering offers something unique and valuable to holders.
Evaluate the Technical Feasibility and Scalability of the Utility
Lastly, evaluating the technical feasibility and scalability of the utility you’re considering is important.
This includes assessing the utility’s technical complexity and whether the utility’s development and implementation are achievable within your project’s timeline and budget.
Additionally, evaluate if the utility can be easily scalable in the future and if it can accommodate the potential growth of the project.
By evaluating these factors, you’ll better equip yourself to make an informed decision about whether the utility is the right fit for your project and your holders.
Best Practices for Implementing NFT Utilities
When implementing NFT utilities, a few below listed best practices can help ensure success.
Communicate the Value and Benefits of the Utility
One of the critical best practices for implementing NFT utilities is to clearly communicate the value and benefits of the utility to holders.
This means clearly outlining the utility, how it works, and the added value it provides to the holders.
By doing so, holders will better understand the utility and be more likely to use and engage with it.
Ensure the Utility is Easy to Access and Use
Another best practice for implementing NFT utilities is to ensure that the utility is easy to access and use for holders.
This means having a simple and intuitive user interface and providing clear instructions on accessing and using the utility.
By making it easy for holders to access and use the utility, you’ll increase the likelihood that they’ll engage with it.
Offer Regular Updates and New Utilities to Keep Holders Engaged
It’s important to keep holders engaged by offering regular updates and new utilities to keep the project fresh and exciting.
This can help to increase engagement and retention among holders and can also help to attract new holders to the project.
Continuously Monitor and Adjust the Utility based on User Feedback
It is also important to continuously monitor the utility and adjust it based on user feedback.
This helps to ensure that the utility is meeting the needs and expectations of holders and can also help to identify any issues or challenges that may arise.
By listening to and addressing holders’ feedback, you’ll better equip yourself to create a successful and engaging utility.
Consider Integrating the Utility into the Overall User Experience
Finally, it’s important to consider how the utility fits into the overall user experience of the project.
Consider how the utility can enhance holders’ overall experience and interaction with the project rather than being an isolated feature.
By following these best practices, you can help ensure the success of your NFT utility and increase engagement and retention among holders.
Tips for Successfully Marketing NFT Utilities
Marketing is a crucial component of successfully launching and promoting NFT utilities.
Let’s discuss some tips for effectively marketing NFT utilities.
Highlight the Unique and Valuable Features of the Utility
When marketing NFT utilities, it’s important to highlight the unique and valuable features that set them apart from other utilities in the market.
This could be a specific benefit it offers or an amazing experience it provides.
By emphasizing the unique and valuable aspects of the utility, you’ll be more likely to generate interest and attract potential holders.
Use Social Media and Influencer Marketing to Promote the Utility
Social media platforms and influencer marketing are powerful tools to promote NFT utilities.
These channels can help to generate buzz around the utility and make it more visible to potential holders.
Influencers can also help to provide credibility and social proof for the utility, increasing the chances that holders will adopt it.
Offer Incentives and Rewards to Encourage the Adoption of the Utility
Another effective marketing strategy for promoting NFT utilities is to offer incentives and rewards to encourage adoption.
This could include discounts, freebies, or bonuses for utility holders. These incentives can help to generate interest and encourage holders to try out the utility.
Use Customer Feedback and Reviews to Improve and Promote the Utility
Listening to and addressing customer feedback can help to improve and refine the utility, as well as demonstrate to potential holders that the project is actively engaged with the community.
Positive customer reviews can also be a great marketing tool, as you can use them to promote utility and generate interest among potential holders.
Create and Share Educational Materials on the Utility
Finally, creating and sharing educational materials on the utility can significantly increase understanding and adoption.
This could include tutorials, how-to guides, and other types of content that demonstrate the utility’s value and benefits and help educate holders on how to use it.
Marketing is a crucial component of successfully launching and promoting NFT utilities leading to more adoption and success.
Frequently Asked Questions (FAQs)
What are utility NFTs?
Utility NFTs are a type of non-fungible token that offer additional functionality or value beyond traditional NFTs. These tokens can be used to access exclusive content, special powers or items in games, or other unique features or services. They can also offer new ways to interact with digital assets and open new possibilities for creators, collectors, and investors.
How are utility NFTs different from traditional NFTs?
Traditional NFTs, also known as Crypto Collectibles, are unique digital assets verified on the blockchain, allowing for true digital ownership. Utility NFTs take this concept further by providing the holder additional value or functionality. Holders can use them to access exclusive content, special features, or services that traditional NFTs cannot.
What are some examples of utility NFTs?
Some utility NFTs include virtual concert tickets that give holders access to exclusive backstage footage or game items that give the owner special powers or weapons.
Other examples could include NFTs that provides access to exclusive content, such as a unique digital experience or an online marketplace.
The possibilities are endless, and it’s exciting to see new and creative uses of utility NFTs emerging.
How can I add utility to my NFTs?
There are many ways to add utility to your NFTs. Some ideas include developing new features or services, such as an online marketplace or a memorable digital experience, or partnering with other companies or creators to offer special promotions or access to exclusive content.
It’s essential to think outside the box and find ways to make your NFTs more valuable and beneficial to your audience.
How can I find or create utility NFTs?
You can find or create utility NFTs in several ways. Some popular platforms like OpenSea, Rarible, SuperRare, etc., allow you to buy, sell and mint your own NFTs.
Additionally, you can also look for NFTs that are being used in games or other digital experiences. As technology advances and its utilization increase, more ways to find and create utility NFTs will appear.
Why is the utility of NFTs important?
The utility of NFTs is vital because it allows for new and exciting possibilities in digital ownership. By providing additional value and functionality, utility NFTs can make owning a digital asset more meaningful and rewarding.
They can also open up new opportunities for creators, collectors, and investors and help drive industry innovation.
In conclusion, utility NFTs are a new and exciting development in digital assets. They offer increased value and functionality beyond traditional NFTs by allowing access to additional features or services.
Whether you’re a creator, a collector, or an investor, there are many different ways you can take advantage of utility NFTs. From gaming items to access to exclusive content, these NFTs have the potential to revolutionize the way we think about digital ownership and interaction.
As blockchain technology evolves, Utility NFTs give a new dimension to digital ownership and its possibilities. It’s exciting to think about their potential impact on the industry, and it’s worth keeping an eye on this space for new developments and opportunities.