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Real-world assets require practical applications

Have you ever asked someone or taken a Twitter poll and seen how “real-world assets” are seen as the spark for the next exciting market surge? It’s a common belief, and while I agree with it, there’s an important point to remember. Traditional assets often lack real utility beyond speculation. To truly attract mainstream appeal, we need to shift from mere speculation to creating tangible utility.

Enhancing utility is key to driving user adoption. As individuals start to experience the practical benefits of tokens in their daily routines, they will come to view them as essential tools. So, if Real World Assets are going to play a role in the next market boom, we must also emphasize Real World Utility.

Moving Beyond dApps to Innovative Self-Referential Tokens

Decentralized applications are a step in the right direction, but they still rely on centralized thinking. While the backend may embrace decentralized technologies, the traditional focus remains on the application itself rather than the token. In a dApp-centric world, the app serves as the utility, not the tokens. It offers functionalities and hosts interfaces to access those features.

To achieve genuine real-world utility, we need to shift the focus from the app to the token itself. All you need is a wallet; the tokens encompass all the necessary utility. The token transforms into a dApp on its own, carrying utility wherever it goes.

The token serves as the primary communication link between the issuer and the owner, offering price information and details about the underlying assets. It seamlessly integrates with wallets, providing a complete experience without the need for additional dApps. By making the token self-referential, its value increases substantially.

This approach also future-proofs the user experience, enabling token holders to access utility across various platforms without the need for app developers to constantly redesign applications for every emerging operating system.

Embracing Offchain Utility

While blockchain technology is excellent for certain utility aspects like ownership and user rights, it has limitations as a database. Blockchains are slow, public, and immutable, making them less suitable for applications requiring low latency, easy upgradability, and privacy of user data.

By diversifying between on-chain and off-chain utility, we can manage token functionalities as efficiently as any website while ensuring data privacy and achieving web2-like latency. This opens up a plethora of use cases that solely on-chain logic cannot address.

For instance, our Smart Cat game incorporates both on-chain ownership management and off-chain game logic for a seamless and enjoyable user experience. This integration showcases how tokens can transcend blockchain limitations and incorporate off-chain logic for enhanced real-world utility.

Enhancing Price Discovery

One simple yet potent real-world utility that tokens can offer is information, with price discovery being a prime example. Any token, being an asset holding value, can convey real-time price information effectively.

Consider a game token scenario where you reach level 9 and want to rent or sell your asset. The token can dynamically display the going rate for a level 9 asset, empowering both buyers and sellers with crucial price information. This off-chain information, transmitted alongside the token, adds significant value to its utility.

By offering such valuable information, tokens serve as useful tools for consumers to understand asset values accurately and sellers to showcase the true worth of their assets. It’s a simple yet effective real-world utility.

Revolutionizing Digital Experiences

Beyond mere token gating and ownership proofs, advanced utilities like communication channels or tokens functioning as applications themselves can usher in a new era of functionality.

Imagine never needing to download a separate car app. Your token could grant you access to essential functions like unlocking, locating, and starting your vehicle. This streamlined approach removes all consumer friction associated with traditional car-buying experiences, offering instant access through the token.

Real-world utility, such as asset management directly from the token or price discovery for rental and sale rates, empowers owners to maximize their assets effortlessly. Manufacturers can communicate vital information like defects, service needs, or offers directly through the token, enhancing the car ownership experience significantly.

Bringing Utility into the Real World

Real-world utility shouldn’t be confined to the digital realm alone—it should extend into the physical world. The more seamlessly a token integrates into the surrounding environment, the greater value it provides. For instance, a car token can easily sync with your service station, maintaining all service records, while game assets can evolve into dynamic interactive experiences connecting games with the outside world.

Not only are tokens capable of carrying information, but they can also incorporate both on-chain and off-chain logic, allowing third parties to interact with them in real-time. Imagine visiting McDonald’s and connecting your game token to the ordering kiosk. McDonald’s can read the token and offer to level up your gameplay if you upgrade your meal size, enhancing both your dining experience and game progress instantly.

We’re just scratching the surface of token utility, but as we embrace real-world assets, we must also prioritize real-world utility to give tokens more significance beyond mere speculation. By leveraging tokens as central elements of our digital experiences, viewing them as communication tools, facilitating asset management, and enabling greater price discovery, we can embark on this transformative journey today.


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