Offline NFT - How to Buy NFT Offline from a Store?

NFT (Non-Fungible Token) market is on an uptrend. The number of NFT users are expected to grow to 19.30 million by the end of 2027 and the revenue is expected to grow at a CAGR of 18.55% between 2023-27¹. With the advancement in blockchain technology and smart contracts , digitizing any asset on a blockchain is possible which includes art painting, music, CBDC , gold, property and the list goes on. That said, digital art is still the most traded NFT on the blockchain. However, as per a survey done by Metajuice, 30% of the respondents knew superficially what an NFT is but didn’t know how and from where to buy it. To solve this problem and market gap, FtNFT has come up with offline stores to educate and sell NFTs to buyers.

FtNFT's Offline Outlet in Dubai Mall — FtNFT’s Dubai Mall Store – Image Source

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NFT Offline Store Concept and Target Type

The offline NFT store, FtNFT is present in Dubai Mall, in the China Town Section. This outlet was launched on 30^th December 2022. The outlet has been receiving NFT enthusiasts as well as newbies, who have no idea about what an NFT is all about. Entering the store feels like, one is visiting an art gallery since the walls of the store are full of screens displaying NFT masterpieces.

Audience Type

Let’s understand the type of audience visiting the store:-

1) Visitors with No Knowledge about NFT

A lot of individuals enter the outlet just by getting attracted to the artwork (NFT Artwork) displayed on the large screens in the store. The sales staff is skilled enough to educate such visitors about the concept of NFT Digital art.

2) NFT as Prestige

A lot of NFT lovers visit the store and consider purchasing NFT art from the outlet as a piece of prestige.

3) NFT Art Admirers

There is a good proportion of individuals who visit the store to purchase the artwork and display as digital painting in their house. Following is an example of NFT Art Display on the wall of the house.

4) NFT Art Collectibles

Apart from the art lovers and newbies, the store also receives enthusiasts who purchase NFT to use it in Metaverse and Blockchain Gaming.

5) NFT Traders

Further, there are a set of clients who purchase NFT artwork to trade it in the NFT marketplaces like OpenSea or Nifty Gateway, for a profit.

How does Offline NFT Purchase Transaction Happen at the FtNFT Outlet

1) Select and Finalize the NFT Art

Once you are at the store, you can browse the various artworks displayed on the screen or you can ask the outlet sales associate to show you the NFT artwork, apart from the ones displayed on the exclusive screen. While scrolling through the artwork, you shall be able to see the price in USD/AED currency as well as in FTN Token (Fasttoken).

2) Register and Complete the Payment at the Outlet

Once you finalize the NFT artwork you, with the help of the outlet sales staff, shall be required to register your profile and email ID and complete the payment.

3) Activating the Digital Wallet and Storing NFT

Further, on successful completion of the payment, the artwork will be sent as a link to the registered email ID. Along with the NFT artwork link, there will be a link to the MetaMask wallet. You shall be required to register on MetaMask Wallet (if you do not already have one) and the purchased NFT can then be seen in the MetaMask wallet.

Does FtNFT have an Online Marketplace too?

FtNFT has a tie-up with several designers across the world who create and upload their NFT artwork on FtNFT’s online marketplace. If you can’t travel to their physical store to purchase the NFT offline, it can be purchased online from their marketplace easily. You shall need a MetaMask wallet and FTN tokens to complete the transaction.

What Else Does FtNFT Outlet Offer?

Collaboration with Designers

FtNFT store is helping digital art designers across the world by listing and selling their NFT artwork on their marketplace and in offline stores. In case you are a NFT artwork designer and want to sell your artwork on their marketplace, FtNFT’s website has a registration form for collaboration. Fill out your details and share your sample artwork and if their team likes it, you can get listed on their marketplace and offline stores. Once your NFT artwork gets sold either through online marketplace or offline NFT store, they shall credit USDT into your account.

Coaching Children on NFT Digital Art

Since the ecosystem of NFT artwork is growing continuously, therefore a lot of parents want to educate their children about the same. Keeping this need in mind, FtNFT has started Digital Artwork classes for children aged between 3 years to 16 years of age led by Margarita Zakharova. The schedule for these batches is listed on their website. During the session, they let the children immerse in their imagination and thereby coach them on how to capture their imagination in the form of NFT digital artwork.

Takeaway

FtNFT is a pioneer in launching offline NFT outlets. Currently, they have 2 outlets in Dubai, UAE however they plan to open a few more in the coming years. This initiative contributes a lot to the NFT and blockchain ecosystem and educates people about the new technology, that’s going to be quite common in the near future.

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