By Anastasia Samaras
The much-anticipated NFT.NYC took place this week, and we were thrilled to have Upstream’s Co-Founder, Mark Elenowitz, speaking on the main stage to cover key insights surrounding the future of the NFT market!
From the beginning, Upstream’s NFT methodology has centered around compliance, utility, fan engagement, and accessibility for the masses.
Upstream at the Forefront
Upstream, a MERJ Exchange market, is the only regulated market for creating and selling NFTs to a global fan-investor community. As the buzz around NFT regulation intensifies, unregulated NFT marketplaces could face pressure from regulators to register as securities exchanges. We believe those who choose to comply will be slow to register.
Upstream continues to provide a safe and secure environment for NFT trading with proactive measures in place to adapt to any changing regulations.
We have been committed to supporting and fostering the growth of NFTs as fan engagement tools since the beginning. To that aim, we’ve hosted over 55 NFT campaigns, each of which was designed by verified creators from a variety of backgrounds, including universities, entertainment, sports, and other fan-driven brands.
Some of these included St. John’s University; Ubank, the first traditional bank to launch NFTs for customers; Upstream brand ambassador and NFL Hall of Famer, Edgerrin James, and more.
As an authorized vendor for the Collegiate Licensing Company (CLC), an organization with over 700 collegiate partners, we are able to use the name, image, and likeness (NIL) of our partner universities to build unique and engaging NFT initiatives. This collaboration not only broadens our reach and helps us attract more clients, but it also enables us to provide exciting chances for fans to engage with their favorite universities and college sports teams in novel ways.
It’s only the beginning. Our Upstream community can get excited for upcoming NFT campaigns surrounding films, pro athletes, musicians, and more.
NFTs on Upstream
Upstream takes great pride in being a pioneer in recognizing the immense value of NFTs as a powerful tool for fan engagement, providing a unique opportunity to establish a deeper connection with fans, and revolutionizing modern interaction.
In honor of NFT Week, we want to share a few of the unique integrations that Upstream support that we’re going to see more of in the coming months.
Redeemable NFTs on Upstream enable buyers to redeem an item or experience while still being able to hold or trade the underlying digital collectible. Upon redemption, the NFT unlocking the item or experience is replaced with an evolved NFT that can be held as a collector’s item, proof of attendance, proof of authenticity, or further trading.
These redeemable NFTs can be chained together to drive meaningful user journeys. For example, the initial NFT could be used as an entry to a VIP event line, upon redemption the attendee could be provided an NFT that unlocks a free beverage or discount to guide them through other experiences at the event.
Digital to Physical NFTs
As NFTs enter mainstream fans, we’re seeing a trend of linking digital and physical merchandise, where an NFT may showcase unique digital art that resembles or is tied to a physical item. This digital collectible can be held separately from the physical item or enable the holder to claim or redeem the physical item. On Upstream, clients are also interested in the ability for digital representations of physical items to be traded before redemption occurs. For example, a digital collectible NFT sneaker could be tied to a physical sneaker. This NFT could trade freely among a global audience until the buyer is ready to redeem for the physical. As described above with redeemable NFTs, upon redemption, the NFT unlocking the item is replaced with an evolved NFT that can be held as a collector’s item, proof of authenticity, or further trading.
NFTs being used to grant access to an event is another unique integration that we can expect to see more of. Ticket NFTs bring a physical concert into Web3 with ticket NFTs for attendees to gain entry, commemorate an event, receive additional perks, and build community value for the tickets as collectibles. Instead of a physical ticket stub, these NFTs act as immutable keepsakes.
Upstream support promotional NFTs called Upstream Social Mint. Upstream clients can promote events or initiatives with a share-to-earn NFT experience where fans Tweet about a project and instantly receive a free NFT in their Upstream portfolio as a thank-you for their promotion.
Upstream is positioned to be a driving force as the NFT market continues to evolve.
We also aim to educate and engage with our growing NFT community. This is why we’re proud to announce Upstream Up Close, our series we’re hosting through Twitter spaces where we will go further into the realm of NFTs, blockchain, and trading on Upstream’s platform. Our objective is to foster casual, interesting discussions about the current trends and advancements in the NFT industry, beginning with a topic about NFTs in pop culture and their future trajectory. Stay tuned for the release date and time!
This communication shall not constitute an offer to sell securities or the solicitation of an offer to buy securities in any jurisdiction where such offer or solicitation is not permitted.
Upstream and issuers do not charge for share transfers, however, transfer agents may charge investors for share transfers. Such fees are standard in the industry and if a fee is required, the transfer agent will alert the investor of such charges and how to pay via credit card, check or wire.
NFTs have no royalties, equity ownership, or dividends. NFTs are for utility, collection, redemption or display purposes only. Anyone may buy and sell NFTs on Upstream.
* U.S. or Canadian-based citizen or permanent are not currently able to deposit, buy, or sell securities on Upstream. Note that U.S. or Canadian-based investors include those U.S. or Canadian citizens who may be domiciled overseas. All orders for sale are non-solicited by Upstream and a user’s decision to trade securities must be based on their own investment judgement.
This communication contains “forward-looking statements.” Such statements may be preceded by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential,” or similar words. Forward-looking statements are not guarantees of future performance, are based on certain assumptions, and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company’s control, and cannot be predicted or quantified, and, consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation, risks and uncertainties associated with (i) difficulties in obtaining financing on commercially reasonable terms; (ii) changes in the size and nature of our competition; (iii) loss of one or more key executives or brand ambassadors; and (iv) changes in legal or regulatory requirements in the markets in which we operate. The Company assumes no obligation to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise.