Crypto and NFT are still a mystery to most of the world. Cryptocurrency has peaked its head into the mainstream world recently with Dogecoin, but NFTs are still a bit elusive to most people. Joe Jedlowski is the Chairman and CEO of Distinctive Living and has quite the impressive business resume.
He has owned multiple very successful businesses including Milestone Retirement Communities, LLC and is very well respected in the corporate world. We sat down with Joe Jedlowski, an outspoken NFT advocate, in order to figure out why he believes NFTs have so much potential.
I’ve heard a lot of people say NFTs and Crypto are a bubble that is ready to pop. Can you tell us why you disagree?
Most people are not purchasing any crypto and have no idea what blockchain technology even means. So no, I don’t believe NFT tech is in a bubble, I think it’s at the beginning of its life.
Now people have heard of NFTs, thanks to the media, but they still haven’t really learned what NFTs are or the advantages that come with them. Once people do learn this, I think NFT technology is going to take off, and take off fast.
Well, Cryptocurrency is useful due to its uniqueness. People can’t just copy and paste crypto, just like they can’t copy a dollar bill with their printer.
On top of this, crypto is extremely secure so businesses can confidently utilize it for transactions. NFTs have the exact same benefits.
They are unique and they are secure. The difference is they are not for currency, they are for things. This expands the use cases of NFT technology exponentially.
They can be used as products, as advertisements, tickets, anything you can imagine.
The main benefit is that NFTs are unique and they’re permanent. I always say the customer comes first and which do you think a customer would rather have?
A digital item that someone could copy and paste with the click of a few buttons, or a unique token stored on a blockchain that legally, and digitally belongs to them and them alone.
Are NFTs good for small businesses and startups? Or should they be left to the big guys until they get more popular and see widespread use?
I think they actually benefit small businesses more. If your product is digital, delivering it as an NFT will stop others from being able to pirate or duplicate your product.
NFTs are also pretty low risk and have a huge potential to rise in value as the world moves towards the metaverse and a complete digital takeover. The growth is not likely to stop so it’s better to hop on as soon as possible, especially for small businesses.
Well, just some things off the top of my head that I’ve thought about or tried myself: counterfeit-proof coupons that can only be used once and are not able to be copied in any way, NFT loyalty cards, a charity drive selling NFTs in the form of artwork or other memorabilia, some sweepstakes for customers to enter, either as a prize or as a ticket, or even both.
The possibilities are truly limitless, which is why I’m so excited for this technology to take off.