Block V co-founder Reeve Collins discusses how the company was the first to conceptualize non-fungible tokens (NFTs) and build a platform around them. He explains that the team recognized the value of programmable digital objects as a means for brands to interact with consumers and provide them value beyond just financial exchange. Collins notes that Block V is focused on creating smart NFTs that offer utility and has built an enterprise-grade platform that enables global brands to enter the business. He adds that the company’s tokens V will shine in the impending era of NFT 2.0, which will focus heavily on utility.
Block V’s Reeve Collins Talks NFTs and Smart NFTs
Ashton Addison of Block West Capital interviews Reeve Collins, the co-founder of Block V, on the topic of non-fungible tokens (NFTs) and smart NFTs.
Overview of Block V’s Solutions
Reeve Collins explains that Block V was one of the first companies to conceptualize the idea of NFTs in 2015. In 2017, the company launched an initial coin offering (ICO) and became the first platform to build NFTs. Block V created highly programmable digital objects in the form of tokens. These tokens can act like micro-apps because of their programmability. Over time, NFTs have become popular in various industries, such as ticketing and coupons, and brands are now using them to engage with their consumers. Reeve notes that Block V’s focus is on providing utility in digital tokens rather than just financial value.
Block V’s Early Vision on NFTs
Reeve Collins explains that the idea for NFTs came about because of his previous venture, Tether. Putting the dollar on the blockchain was complicated and heavily scrutinized due to regulations and lawyers. Hence, Block V wanted to focus on creating tokens that had value beyond financial transactions. The company built a super-robust platform that enabled global brands to enter the business of NFTs. It aimed to provide a new way for large companies to communicate with their consumers.
Utility of NFTs and Block V’s Solution
Ashton Addison notes that a lot of NFTs have been picked up by artists, but the functionality of the NFTs will become more important in the long run. Reeve Collins explains that Block V has built an enterprise-grade platform that enables brands to use NFTs as a new way to engage with their consumers. The company has a large sales force that goes out to the brands to showcase how NFTs are a new way to market to their consumers. Block V has built smart media technologies and smart media labs on top of its foundation, Block V Network. These companies offer services for media buying, including television, digital, and NFTs.
Block V’s enterprise-grade platform and smart NFTs are revolutionizing the way brands engage with their consumers. With the rise of NFTs 2.0, where the focus is on utility, Block V and its token, V, will become leaders in the industry.