This French start-up that wants to make NFTs useful – Strategies

How did you come to create Capsule Corp Labs?

Initially in 2020, we created Ternoa, which is a “layer 1” blockchain project entirely dedicated to NFTs. We had a market vision which was to say that NFTs will become more and more utilitarian. In other words, we think that utilitarian NFTs will become the digital format of tomorrow and that they will largely exceed the use case of collectible NFTs, which are strongly present on the art market. This year, we created Capsule Corp Labs, which aims to offer applications to NFT entrepreneurs that allow them to integrate the blockchain.

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Concretely, what are utility NFTs?

If you think about what it is conceptually, it’s quite simple. Utility NFT is for anything that is not collectible NFT. Basically, it’s when the use value exceeds the scarcity value of the NFT. In the same way as for PDF or JPG files, which make it possible to display digital content, utility NFTs must be seen as the possibility of real digital co-ownership of the asset. This is precisely the characteristic of the blockchain. It is a new server organization which is decentralized and which makes it possible to respond to one of the limits of the Internet, which is that of double dependence in digital assets. The Internet knows how to locate information very well, but the circulation of information requires an infinite duplication of it.

Do you have an example of what a utility NFT could be?

If I have an image on my computer, I can send it to someone, nobody will own it. We both have it in our possession. So these images or data have no value. The blockchain makes it possible to respond to this problem of double dependence and to give true digital ownership. NFT is the digital format that will precisely enable the deployment of this type of infrastructure. As for utility NFTs, they will allow you to display anything and everything, and to be the owner: images, a QR Code, a loyalty program… What changes is is the use value behind. A concert ticket for example, you will buy it not because it is an NFT but because you want to go to the concert. You buy it for its use and not for its prestige. look Fortnite, players will spend 50 euros per month to buy “skins” (an appearance that your character can wear to change their look). This collectible NFT contributes nothing to the game and belongs to a centralized database owned by Fortnite. The ultra-revolutionary utility NFT allows you to acquire this digital asset and use it later.

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What are the objectives of Capsule Corp Labs?

Our goal is to develop utilitarian NFTs so that they can be established for start-ups as well as for large accounts. The difficulty today in developing NFTs is that they are very difficult to access because of the types of computer language, Web3 type. So we said to ourselves that we were going to facilitate the integration of NFTs into existing computer systems through the creation of software development (which allows developers to work on software). The goal is for them to use our SDKs (software development kit) and NFTs in JavaScript, which is the most widely used computer language in the world.

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This French start-up that wants to make NFTs useful – Strategies

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