How NFTs are Evolving to Add ‘Meaning and Story’: RARI Chain
The NFT space is undergoing a significant evolution, focusing on adding meaning, story, and utility to digital assets. This shift was a central theme at the recent TEN by RARI x Refraction event in Bangkok, where thought leaders and creators gathered to discuss the future of NFTs and their broader implications.
While NFTs are widely associated with the creator economy, their potential extends far beyond consumer-facing applications. According to Jana Bertram, Head of Strategy at RARI Foundation, the future lies in seamless, backend applications where users may not even realize NFTs are at play. She highlighted RARI Protocol’s integration across multiple ecosystems, showcasing how NFTs can quietly underpin diverse functionalities in Web3 without overtly presenting themselves.
For creators, NFTs have become more than digital collectibles—they’re mechanisms for storytelling and community engagement. New media artist Shavonne Wong emphasized the experimental phase the industry is in, with artists exploring innovative mechanisms to embed deeper narratives into their work. Curator Justin Gilanyi noted that even during the crypto bear market, dedicated NFT artists, designers, and musicians have focused on honing their craft, using the downturn as an opportunity for growth.
The utility of NFTs is also expanding in novel directions. Sam Friedman, Head of Marketing at Arbitrum, shared examples like burning NFTs to redeem physical merchandise or creating “soulbound” NFTs that tether to a user’s wallet, enabling personalized engagement. These innovations demonstrate how NFTs can act as bridges between digital and physical realms or tools for sustained interaction.
Despite the strides being made, hurdles remain. Gilanyi pointed to challenges in accessibility and education, while Friedman underscored the need for improved distribution channels and a broader understanding of Web3 technologies. According to Bertram, RARI Foundation is addressing these gaps by hosting global workshops to onboard creators into decentralized finance (DeFi) and introduce them to tools like staking and yield farming, unlocking new monetization opportunities.
One of the most promising aspects of NFTs is their potential to foster deeper connections between creators and their audiences. "We have artists not only creating art, but creating experiences, activations, and content," said Gilanyi. By incorporating storytelling and interactive elements, creators are transforming NFTs into vehicles for meaningful engagement.
As the NFT landscape matures, its emphasis is shifting toward sustainability, utility, and immersive experiences. With platforms like RARI enabling innovative use cases and creators pushing boundaries, NFTs are poised to become foundational elements of Web3, offering creators and users alike more meaningful ways to connect, interact, and thrive.
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