<figure class="image"><img src="/uploads/Confessions_of_a_blockchain_developer_Artur_Kaerblane_9006bd1c02.png"></figure>Our Chief Technology Officer, Artur Kärblane, is one of a growing community of blockchain developers creating an entirely new ecosystem built around Web 3.0, embracing trust, security and immutability.Because of blockchain applications' advantages and use cases, blockchain developers like Artur are in high demand. Yet, the community and industry are still relatively new."The blockchain community is a tight-knit, fast-growing developer community where everyone is open and eager to chat. Belonging to various developer group chats, we discuss security, UX, and scaling.I am learning about others from a variety of backgrounds. Everyone has an exciting story about how they got involved in blockchain/crypto as an emerging industry.My first ever blockchain project was during the early days of Bitcoin. I was fascinated by the idea of digital currency and wanted to be a part of the community that built up the hype around blockchain. Unfortunately, as a minor, my parents refused to buy me a few BTC because it was probably a scam. In 2017, I got back into the technology and set up a little mining farm for ETH. In addition to mining, I tested setting up my own node and attempting to interact with it."<h2>What is a blockchain developer?</h2>You can separate blockchain developers into different categories.<ul><li>Layer 1 developers define a blockchain ecosystem's core protocols and develop clients. They experiment with consensus mechanisms, proof-of-stake vs proof-of-work, sharding and networking.</li><li>Layer 2 developers are dApp developers. Within dApp development, a developer can specialise in smart contracts, UX, infrastructure or layer 2 scaling, including state channels, side chains and others.</li></ul>Developers can also specialise in security and audits. Given the immutable nature of blockchains, every project must receive external audits on its code and security practices. Security-focused developers work on all aspects of the ecosystem.<h2>Why has blockchain development grown so rapidly?</h2><figure class="image"><img src="/uploads/Business_thrives_with_blockchain_developers_71e35ee875.png"></figure>The growth of blockchain technology is showing no signs of slowing down.&nbsp;In the past few decades, many seemingly impossible ideas have turned out to be untrue, like high transaction fees, net fraud or retrieving lost data. But, now, blockchain technology can avoid all this. That's not to say blockchain has not seen its share of problems.Companies adopting blockchain technology have witnessed:<ul><li>It is an immutable digital ledger, meaning when transactions are recorded, nobody can modify it.</li><li>Due to its encryption capabilities, blockchain is more secure than other databases.&nbsp;</li><li>Blockchain transactions are transparent and executed near instantly, as the ledger is updated automatically.</li><li>As it is a decentralised system, no intermediary fees are required, although there are <a href="https://supplain.io/news/nft-terms-nft-vocabulary">gas fees</a> for storing information on the blockchain.</li><li>A transaction's authenticity of a transaction is verified and confirmed by participants.</li></ul>Blockchain is not easy to implement for regular users. It needs to be managed by blockchain specialists, making it ideal for businesses with the budget and appetite to operate a blockchain project.<figure class="image"><img src="/uploads/Global_blockchain_market_218203c37a.png"></figure>So, what makes blockchain so lucrative to businesses? Firstly, it reduces operational costs and removes intermediaries as a cost and point of contact, thus boosting growth and efficiency.Secondly, transaction speeds have exceeded expectations, yet accuracy remains even better.It's easy to see why the global blockchain market was valued at $1.57 billion in 2018 and will grow to <a href="https://www.statista.com/statistics/1015362/worldwide-blockchain-technology-market-size/#:~:text=The%20worldwide%20blockchain%20market%20was,billion%20U.S.%20dollars%20by%202027.">$163 billion U.S. dollars by 2027</a>.And finally, the <a href="https://supplain.io/news/blockchain-applications-use-cases">blockchain application use cases</a> also favour the industry.&nbsp;Take the <a href="https://supplain.io/news/supply-chain-nfts">supply chain</a>, for instance. Immutability enables organisations to ensure that there is no tampering done to the packages in transit. As blockchain is immutable, it is impossible to alter the package information. Any alteration will alarm the system.You can find the blockchain's importance at the core by going through its key features. These features make blockchain irresistible in diverse scenarios and mark itself as the best possible solution.<h2>Is it easy to find good blockchain developers?</h2><figure class="image"><img src="/uploads/Blockchain_developers_at_work_befb1501f5.png"></figure>Despite the industry growing, the amount of blockchain engineers is relatively low. Hiring a skilled and experienced developer can be similar to finding a needle in a haystack.The existing <a href="https://www.getuku.com/articles/upskilling-whats-all-the-fuss-about">talent skills gap</a> and the growing demand for specialists set specific challenges for businesses looking to hire blockchain developers. For example, high blockchain developer pay rates and fierce competition for top talent. Finding outstanding blockchain developers is tricky, but it can be done.First, hiring parties need to know where to find a blockchain developer for hire.&nbsp;The major mistake they all make is to find a blockchain developer in a place which is not correct. For instance, how does a typical company usually look for candidates–job ads? LinkedIn.&nbsp;Kärblane says it's best to avoid the conventional hiring methods because they will not be very efficient in finding the ideal developer.According to Kärblane, to locate a good blockchain developer, you need to find them in their natural environment. Because of the blockchain and crypto ecosystem's character, many have several projects on the go. They aren't enthusiastically seeking out new work.&nbsp;That doesn't signify that they won't be interested if the precise opportunity comes into their peripherals. The blockchain ecosystem traverses many boundaries. Most of the top blockchain developers and thought leaders continuously engage with each other to keep up on the newest projects and news, whether on Twitter, Discord, or more conventional messaging platforms.An important note - brilliant Blockchain developers can be very dissimilar from the rest of the workforce, even those surrounded by the IT sector.&nbsp;The reason is that Blockchain technology was an interloper interest that has only begun to have a real beneficial impact in the last couple of years.&nbsp;Consequently, the most outstanding and knowledgeable developers tend to be in it for the passion. Other sturdy candidates are inflowing the industry because they see immense opportunities in blockchain technology.<h2>What advice do you have for other blockchain developers?</h2>Remain active in the blockchain community.&nbsp;The best breakthroughs come from discussing problems with peers or perceived competitors. We're all in it together, so discuss concerns openly. The likelihood is that many people are struggling with similar issues.Take security seriously. Get audits, and always ask for help.Don't settle for centralised solutions. It's fine when you're starting a project but always have a plan to remove yourself as a trusted authority from your development.<h2>About Artur Kärblane</h2><a href="https://www.linkedin.com/in/artur-k%C3%A4rblane-118bb2139" target="_blank" rel="noopener noreferrer">Artur Kärblane</a> got into technology &amp; software development at a young age. Initially just breaking things, he destroyed a few computers whilst ripping out the parts and trying to put them back together. The first experiments with coding were trying to write cheats and hacks for PC games following tutorials on the Internet.After studying computer science at the University of Tartu, he co-founded a software development agency that has built various SaaS products, mobile applications and custom software for clients. Having previously tinkered with blockchain technology and getting familiarised with the latest trends in the ecosystem, he co-founded and built the WoF ecosystem and Supplain.Today, he is the Chief Technology Officer in the <a href="https://worldoffreight.xyz/">World of Freight</a> and <a href="https://supplain.io/discover">Supplain teams</a>.Resources you'll love:<ul><li><a href="https://supplain.io/news/crypto-queens-women-nft-space">Crypto queens in the NFT space</a></li><li><a href="https://supplain.io/news/story-behind-wof">The Story Behind World of Freight</a></li><li><a href="https://supplain.io/news/blockchain-applications-use-cases">19 Blockchain application use cases that will surprise you</a></li></ul>

Our CTO, Artur Kärblane, and other blockchain developers are creating a new Web 3.0 ecosystem embracing trust, security and immutability.

Confessions of a blockchain developer - Artur Kärblane

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Confessions of a blockchain developer

David Bailey-Lauring

Guide to the top blockchain, crypto and NFT events to attend in 2022 that crypto enthusiasts must attend. Where are you heading in 2022?

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Top blockchain, crypto and NFT events to flock to in 2022

<figure class="image"><img src="/uploads/2_21_07_b0505945c3.png"></figure>Why should we care about supply chain innovations?&nbsp;In a search for competitive differential advantage, many managers of world-class organisations around the globe have come to realise that differentiating on processes is more sustainable than differentiating on products.Supply and demand fluctuations and lack of visibility are generating new challenges and problems in to supply chain.Web3 provides some technological solutions to overcome these gaps, especially in connectivity and verifiability of data.The Supplain Summit is dedicated to connecting Web3 technologies and Supply Chain challenges.<h2>What is the Supplain Summit?</h2>The Supplain Summit is dedicated to connecting supplain chain challenges and the most advanced technologies.Supply and demand fluctuations and a lack of visibility generate new challenges and problems within supply chains. Autonomy, IoT, web3 and other emerging technologies overcome these gaps by connecting, structuring and verifying data moved through supply chains making intelligent decisions.Hundreds of new companies are developing these solutions, and this conference is the space to connect those involved.With so much innovation within supply chains from supply chain professionals, startups and venture capital, you cannot afford to miss the <a href="https://supplain.io/events/supplain-summit">Supplain Summit.</a><figure class="image"><img src="/uploads/1_21_07_88586d1596.png"></figure>The Supplain Summit will be on the 19th-20th of September 2022 at Kultuurikatel in the digital powerhouse of Tallinn, Estonia. During these two days, the capital will see:<ul><li>50+ speakers</li><li>500+ selected guests</li></ul>Discussing supply chain innovation on:<ol><li>Automation</li><li>Analytics</li><li>Connectivity</li><li>Financing</li><li>Procurement</li><li>Sustainability</li><li>Visibility</li></ol><h2>What is supply chain innovation, and why should companies care?</h2>Supply chain innovation is vital for companies of all sizes. It means looking at how a company applies its assets, operating resources, and capabilities to develop new ways to satisfy consumer demand. Businesses should measure innovation value by how well they help meet customer needs.&nbsp;Whilst few companies are implementing breakthrough or 'leapfrog' innovations, nearly every company today is looking to innovate in some way or the other.One such company that is determined to take a stride ahead is Supplain's supply chain messaging protocol. At the Supplain Summit, we'll demonstrate how it can minimise supply chain disruptions by increasing operability between all supply chain parties.Join us; you simply cannot miss this event!<a href="https://fienta.com/supplain-summit">Get your tickets here.</a>

A supply chain innovation conference that should not be missed. The Supplain Summit is dedicated to connecting Web3 technologies and Supply Chain challenges.

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The foremost supply chain innovation summit you simply cannot miss

Andre Veskimeister

<figure class="image"><img src="/uploads/1_11_07_2_dfe953b4b2.png"></figure>Public and private sector organisations, businesses and consumers rely on connected supply chains both globally and locally.&nbsp;Across the world, organisations procure goods and services from suppliers with complex and far-reaching supply chains to service consumers.Consumers have become ubiquitous about a quick, on-demand shopping experience and on-time delivery. This consumer demand has led to an increase in connected supply chains. This increased connectivity has several advantages and disadvantages that organisations should weigh up.&nbsp;<h2>What are connected supply chains?</h2><figure class="image"><img src="/uploads/2_11_07_2_4a5a5a986b.png"></figure>A connected supply chain ensures that all disparate systems, technologies, and networks are linked. They must communicate correctly to provide visibility and effectiveness across the supply chain.This is the end goal for many organisations that want to optimise their operations. Introducing innovative technologies can aid connected supply chains by ensuring cohesion between systems, increasing efficiency and data operability throughout the entire supply chain journey.&nbsp;But not all organisations have the satisfaction of a connected supply chain. The data gaps hinder many incumbent businesses in their operations.<h2>Global supply chains and local supply chains are all connected</h2><figure class="image"><img src="/uploads/3_11_07_2_77114a101a.png"></figure>Connected supply chains allow companies to go to others and outsource various operations for low production costs, cheap labour, and quicker procurement of products and services. Global supply chains begin with suppliers and manufacturing flowing from one country to a finished product or service.&nbsp;The local supply chain works more efficiently when the suppliers operate their business in the same region where customers are located. Local suppliers have an advantage within an area because they are familiar with all the supply routes.&nbsp;However, suppose a local supply chain has international products and services. In that case, they will ultimately be impacted by global supply chains.<h2>Advantages of supply chains</h2><figure class="image"><img src="/uploads/4_11_07_2_4c6e223210.png"></figure>There are many advantages of supply chains. Supply chains let organisations scale, as they can reach goods they otherwise would not be able to access. Plus, the more they are connected, leads to better digital information that can access connected services including financing and insurance.<h3>1. Reduced cost price</h3>Reducing cost has always been a significant factor in supply chain decisions - finding the cheapest suppliers and retailers to sell goods to consumers for higher profits.&nbsp;Organisations choose to source either locally or internationally due to lower labour and operating costs linked to manufacturing services and products.Sourcing from a low-cost supplier or manufacturer means supply chains contribute positively to an economy, creating job opportunities and boosting living standards.<h3>2. Increased competition</h3>We live in the digital age, and sourcing products and services internationally have never been more accessible.Global supply chains allow businesses and consumers to take advantage of product innovations within other countries, keeping supply chains current and competitive.<h3>3. Higher volumes</h3>Particularly for retail sales, one advantage of supply chains is that more efficient production capabilities and lower cost mean organisations can purchase more goods and services at competitive prices and thus sell more, boosting company profits.&nbsp;Buying more equates to selling more. But not only this, broadening supplier options equates to continued product sales should one supplier run out of stock or a vendor is unable to deliver.<h3>4. Supplier development</h3>Working with local and global supply chains, it becomes possible for businesses within countries that traditionally did not operate to high production standards for their end markets to have had to 'up their game.'For example, companies operating within developing countries or those like China and India understand that if they do not meet US or EU standards, these markets will source from regions that do.&nbsp;<h3>5. Greater variety of products and services</h3>The supply chain also makes securing almost any item easy since it is probably being produced or manufactured somewhere in the world. Historically, any item not from a local range could take ages to build. Now customers can buy it from the country where it has been made, whether locally or globally.Plus, consumers can whether their products are sustainable, thus generating even more competition. So, should that vendor have other products to sell, businesses can begin to sell additional services, boosting profits that otherwise could go to competitors.<h3>6. More international customers</h3>Supply chains are not only about where goods are bought. The other segment is where goods are shipped.&nbsp;Operating within global supply chains brings new opportunities in new international markets. Suppose a company is sourcing items from China. In that case, it is feasible that they may wish to look at other markets that they may be able to tap into since they have already established sources in China, for example, within other large manufacturing nations like Turkey or Bangladesh.&nbsp;Once a company has taken the first step to source supplies globally, new markets and opportunities begin to follow.<h3>7. Diversifying supply chain risk</h3>Diversifying supply chains mean that if an organisation is within this kind of framework, they have a chance of success and can even grow during an economic downturn within another country or region. If an organisation is not part of it, then its chances of survival are lower, or supply chain risks will increase.<h2>What are the disadvantages of supply chains?</h2><figure class="image"><img src="/uploads/5_11_07_2_3e6028fd8a.png"></figure>Although there are many advantages of supply chain suppliers, there are risks involved that can lead to supply chain disruptions.Whilst engaging in supply chains offers benefits, sourcing globally involves the management of different cultures, religions, and time zones, as well as good ethical practices and foreign currencies.<h3>1. Longer delivery times</h3>One of the most prominent challenges of a connected supply chain is that Overseas production time may be quicker; however, the delivery time can often be much longer as the goods will rely on transportation and shipment from different countries. It means that advanced planning is required.Delivery times have been a significant worry for supply chains during the COVID-19 pandemic. As the coronavirus virus spread from China and then quickly over to European countries like Italy and Spain, it disrupted infrastructure and networks of supply chains both locally and internationally.&nbsp;China was affected particularly severely as factory closures led to empty shipping containers mooring in Chinese ports, causing global container shortages. Deliveries were severely delayed or did not arrive at all, causing a loss of profitability for every supply chain stakeholder.&nbsp;<h3>2. Reputational risks of connected supply chains</h3>Connected supply chains can increase reputational risks and expose supply chain partners to public scrutiny.&nbsp;Supply chain leaders should constantly scrutinise business dealings from countries with questionable business ethics records on business ethics. Fundamentally, public and private sector procurement teams should examine all businesses for signs of unacceptable practices, for example, fraud, corruption, modern-day slavery, human trafficking, and broader issues such as child labour.Buyers should consistently demonstrate integrity and take the time to understand the fundamentals of ethical behaviour when selecting and managing suppliers.&nbsp;&nbsp;<h3>3. Currency exchange rates</h3>Another supply chain disadvantage is fluctuations in foreign currency exchange rates. As it varies from country to country, it could significantly impact profitability. Global supply chain markets are more susceptible to regional influences affecting trading markets.<h3>4. Loss of quality control</h3>Global supply chains signify that consumers will have a long-distance relationship with their suppliers.Time zone differences can cause communication challenges.&nbsp;Some supply chains span multiple countries, meaning that unrest, natural disaster or another crisis – such as COVID-19 – in other countries could directly impact the steps along the supply chain.When suppliers are located in other countries, monitoring the technical production processes, ensuring quality, and managing communication becomes challenging. Resultantly, complication in the quality arises.<h3>5. Higher exposure to supply chain risks</h3>When you have suppliers pervaded in various countries, every country's political and economic condition is different, which could put your business at significant risk.Even if a company sources locally, the local supplier could still be sourcing globally and thus impact local supply chains.<h3>6. (Mis)-communication challenges</h3>When dealing with suppliers in different countries, you must be very careful about the terms you use. You should ensure they're interpreting the same meaning, whatever you meant.It is not only terminology that is crucial. Data sharing can be miscommunicated when stored in each organisation's supply chain management ecosystem. Integrations with all supply chain stakeholders can only be achieved using a standard messaging protocol.<h2>How can Supplain support connected supply chains?</h2>One of the biggest obstacles private and public sector organisations face with supply chains is data communication and integration challenges.Whether your supply chain organisation is working with local or global suppliers, every supply chain stakeholder must utilise that data in a way that does not create supply chain data silos - namely, to review data and make sound business decisions along each step of the supply chain journey, from suppliers, manufacturers, retailers to last-mile delivery.&nbsp;Organisations can also improve supply chain performance and minimise supply chain disruption by ensuring better coordination with business partners and all the involved and becoming more operable with their close partners in global supply chains.&nbsp;<div class="raw-html-embed"><div style="background-color: #0E1EFF; color: white; border-radius: 10px; padding: 6px 16px 12px">
<h3 style="color: white;">Resources you'll love:</h3>
<ul>
<li><a href="https://supplain.io/news/supply-chain-trends-and-predictions">Supply chain trends and predictions to look out for in 2022</a></li>
<li><a href="https://supplain.io/news/global-supply-chains">What are global supply chains, and why do they matter?</a></li>
<li><a href="https://supplain.io/news/supply-chain-risks-disruptions">Supply chain risks and disruptions - can they be avoided?</a></li>
<li><a href="https://supplain.io/news/supply-chain-data-silos">Avoiding supply chain data silos</a></li>
</ul>
</div></div>

Businesses and consumers rely on connected supply chains to facilitate the movement of goods and products. But what are the advantages and disadvantages of this connectivity?

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Advantages and disadvantages of connected supply chains

Global supply chain disruptions appear to be increasing, but what are the supply chain risks and can they be remedied?

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Supply chain risks and disruptions - can they be avoided?

<figure class="image"><img src="/uploads/1_01_07_6c9520918e.png"></figure>Daily we read about the problems related to global supply chains. From a <a href="https://supplain.io/news/supply-chain-trends-and-predictions">lack of lorry drivers</a> causing fuel, food and clothing not to be <a href="https://thehill.com/opinion/technology/594107-with-more-jobs-than-jobless-the-supply-chain-needs-urgent-repairs/">delivered to petrol stations, restaurants and shops fast enough</a> to aftershocks caused by the global COVID-19 pandemic, the closing of shipping lanes, and the war in Ukraine have severely strained global supply chains.Consumers have seen shortages at the petrol pumps, causing long queues for fuel. Some shops and restaurants are running out of particular kinds of food, and what is available has skyrocketed in value. Several countries have reported inflation rates of 20+%!Why are we witnessing such strain on our global supply chains, and why does it matter to us?<h2>What is a global supply chain?</h2>A global supply chain is a network between an organisation and its suppliers and consumers that incorporates all the transactions in transforming raw goods into marketable products.&nbsp;&nbsp;Global supply chain networks include the activities, people, technology, information and resources. In contrast, the functional teams involved in the company's network include sales, sourcing, procurement, manufacturing, logistics and customer service - where the consumer receives the product they ordered or wish to purchase.The supply chain process has developed over the centuries. Now, the leading global supply chain partners have a competitive advantage by executing quicker, reducing friction through all internal and external steps, thus bringing more transparency throughout the process of delivering a product or service beyond the end customer's expectations. Consider how Amazon can now provide products to our doors within 24 hours!Leaders in global supply chain management understand that their organisation's supply chain is more than the movement of goods from manufacturing to consumers. <a href="https://supplain.io/news/road-ahead">Supply chain innovators</a> combine business processes and supply chain networks and deliver the best service and product under a single collaborative system that provides the ultimate customer experience.<h2>Why is a good supply chain vital?</h2><figure class="image"><img src="/uploads/2_01_07_6c4b10c7d5.png"></figure>Supply chains play a significant role in customer satisfaction through the delivery of products and services. Good supply chains are critical for reducing operating costs in procurement activities, operations, logistics, and the whole supply chain. The scale of profitability for large organisations is relative to supply chain management.Supply chains also have a lesser publicised societal role – ensuring that the necessities humans depend on, like food, energy, medicine, and modern infrastructure, are flowing and available.Both domestic and global supply chains will involve the following:<ul><li>moving raw materials and creating them into salable products,</li><li>coordinating the work of suppliers, manufacturers, warehouses, retailers and transportation partners</li><li>transportation to the distribution site,</li><li>consumer distribution</li><li>managing the logistics of operations, marketing, product development, marketing, finance, customer service, finance</li><li>business development and distribution</li></ul>Good supply chains improve an organisation's financial position by delivering much-needed goods and services and facilitating job creation at the same time.&nbsp;<h2>Why are supply chains good for global economies?</h2><figure class="image"><img src="/uploads/3_01_07_70dd4d65e0.png"></figure>It is well known that the supply chain is an integral part of most businesses and is essential to business success, customer satisfaction and societal growth.&nbsp;Global supply chains have become a robust method of organising investment, production and trade in the global economy. Many countries, particularly developing countries, have benefitted from <a href="https://www.imd.org/research-knowledge/articles/business-supply-chain-strategies-evolving-can-poor-countries-benefit/" target="_blank" rel="noopener noreferrer">supply chains boosting employment opportunities</a> for economic and social development.&nbsp;However, it should be noted that the same supply chains can have the opposite effect, negatively impacting <a href="https://www.weforum.org/agenda/2018/06/supermarket-supply-chains-driving-poverty-inequality-winnie-byanyima-oxfam/" target="_blank" rel="noopener noreferrer">decent working conditions</a> and leading to international hostility between states who are jealous of each other's supply chain wealth.Global supply chains, then, are complex, fragmented, diverse, yet highly dynamic and evolving organisational structures, but they can provide several benefits.<h2>What are the risks and disruptions to global supply chains?</h2><figure class="image"><img src="/uploads/4_01_07_17342935ad.png"></figure>Dispersed supply chains develop because stakeholders find it is economically advantageous to seek the least expensive and most efficiently productive sources of supply. These fragmented and dispersed supply chains have developed for apparent reasons. Still, they created complex interdependencies whose risks have become too volatile once one section of the supply chain is impacted.Supply chain interdependence is evident within our highly globalised trading world. It is unlikely to change in the next decade unless there is increased interoperability between organisations and nations. However, with this interdependence comes increased risk. In the case of supply chains, risks are often never fully appreciated until too late.&nbsp;Whilst the motives for creating these supply chains lie primarily with private business interest, the impact of supply chain disruption that can be manifested by natural disasters, pandemics and human conflict — is rarely localised.&nbsp;When a disruption occurs in one industry, the disturbances impact adjacent industry sectors and begin to affect the entire economy of not only that country but also regional and globally.&nbsp;The impact on vulnerable populations is particularly noteworthy. Supply chain disruptions do not only create higher prices and shortages amongst high-end consumer technology products, like mobile phones. They also affect commodities, including generic drugs, food or energy, increasing living costs for those struggling most within society.&nbsp;Supply chain disruption thus creates instability more generally, promoting conditions for conflict between and within nations. At the time of writing this article, the <a href="https://www.un.org/africarenewal/magazine/may-2022/how-russia-ukraine-conflict%C2%A0impacts-africa">Ukraine war has caused massive disruptions to food and energy supply chain</a>s, causing prices to skyrocket and inflation to grow in every country.&nbsp;As affluent nations and individuals can find ways to mitigate shortages, they begin to hoard what they have, impacting those who need it most. In these cases, the stakeholders face shortages occasioned by interdependence and seek security for themselves in ways that foster broader international systemic instability.<h2>Global supply chains matter because they impact us all</h2><figure class="image"><img src="/uploads/5_01_07_3b9b68b152.png"></figure>The global supply chain can make manufacturers and industry sectors more efficient, productive and profitable by reducing costs and encouraging business enterprises to expand into international markets.&nbsp;Global supply chains must ensure that the international networks of manufacturers, vendors, warehouses, transportation companies, distributors, and retailers operate smoothly.Whether a business, organisation, or government, the communication between them needs to be standardised. Otherwise, miscommunication, interoperability, <a href="https://supplain.io/news/supply-chain-data-silos">supply chain data silos</a> and bottlenecks will begin to form, whether this is the timely delivery of everything from raw materials to finished consumer goods as they travel from manufacturers and suppliers to wholesalers, retailers, and other distribution points.&nbsp;The goals of supply chain stakeholders are to reduce costs, improve efficiency, and mitigate risk, which is achievable through increased operability.<div class="raw-html-embed"><div style="background-color: #0E1EFF; color: white; border-radius: 10px; padding: 6px 16px 12px">
<h3 style="color: white;">Resources you'll love:</h3>
<ul>
<li><a href="https://supplain.io/news/supply-chain-trends-and-predictions">Supply chain trends and predictions to look out for in 2022</a></li>
<li><a href="https://supplain.io/news/supply-chain-data-silos">Avoiding supply chain data silos</a></li>
<li><a href="https://supplain.io/news/supply-chain-nfts">Supply chain NFTs - what value can they bring?</a></li>
<li><a href="https://supplain.io/news/story-behind-wof">The Story Behind World of Freight</a></li>
</ul>
</div></div>

Global supply chains have been severely strained for several reasons. But what are supply chains, and why do we always feel the impact when they suffer disruption?

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What are global supply chains?

What are global supply chains, and why do they matter?

<figure class="image"><img src="/uploads/Guide_to_getting_started_with_NFT_wallets_15f9f99d9d.png"></figure>&nbsp;A non-fungible token (NFT) represents a digital version of real-world objects like <a href="https://supplain.io/news/nft-art">art</a>, music, videos, and other <a href="https://supplain.io/news/top-nfts-with-utility">NFT utilities</a> like tickets. It's meant to be unique or has high scarcity. It can be bought, traded and sold online with cryptocurrency and fiat currency.Research shows that in the first half of 2021, <a href="https://dappradar.com/nft">NFT sales totalled $2.47 billion</a>.&nbsp;NFTs have gripped the public's imagination in the last few years. And many are considering <a href="https://supplain.io/news/what-are-nft-investments">investing in NFTs</a>. Before starting with NFTs, you'll need something to store your crypto and the digital assets you acquire in the crypto space.&nbsp;This is where NFT wallets come in.&nbsp;You'll need to know have a wallet not only to buy, sell or trade crypto and NFTs, but you'll also need to have them to store and keep safe from <a href="https://supplain.io/news/nft-scams-victims">NFT scams</a>.<h2>What is an NFT wallet?</h2>An NFT wallet is a digital wallet that stores NFTs and cryptocurrencies in one place. The wallet can receive additional digital assets sent to the wallet holder alongside buying other digital assets.&nbsp;The considerable increase in NFT purchases in the past few years (see trading volumes above) has led to the further development of NFT wallet functionality for storing the NFT after <a href="https://worldoffreight.xyz/how-to-mint">minting</a> or purchasing. Interestingly, an NFT wallet does not have the assets in a digital version of a particular bank account.To summarise, an NFT wallet is a physical device or computer program that allows users to store and transfer digital assets like non-fungible tokens and cryptocurrency.&nbsp;<h2>How do NFT wallets work?</h2>Being a technological product, NFT wallets involve a bit of technical <a href="https://supplain.io/news/nft-terms-nft-vocabulary">NFT vocabulary</a>. However, the way they work is relatively straightforward.&nbsp;In short, when you create an NFT wallet, it automatically generates a series of words known as a 'seed phrase' (also known as a 'recovery phrase'). The wallet uses the seed phrase to create a set of private keys.&nbsp;<figure class="image"><img src="/uploads/Enter_seed_phrase_to_access_NFT_wallet_0486d2b19a.png"></figure>Wallet holders should never share their seed phrase or private keys with anyone, or they will be able to access the assets in the wallet, and the wallet holder will become the victim of <a href="https://supplain.io/news/nft-fraud-web-3">NFT fraud</a>.Understanding how a crypto wallet work is like thinking of it as a password manager for your digital assets. The seed phrase acts as the master password for the wallet – it allows the holder to access their crypto wallet. If the holder deletes their crypto wallet, they can recreate it and access everything using the seed phrase.<figure class="image"><img src="/uploads/Losing_access_to_an_NFT_wallet_0bc88c33b8.png"></figure>However, suppose a holder loses or forgets their seed phrase. In that case, they will lose access to the wallet and all the assets the NFT wallet contains forever. There have been numerous examples of NFT wallet holders forgetting their private keys and thus cannot <a href="https://www.bbc.com/news/technology-55645408">access millions of dollars worth of cryptocurrency</a>.Private keys are like passwords.&nbsp;They allow wallet holders to access and manage the specific items in their wallets. Specifically, the private key lets holders initiate transactions called 'signing.'<h2>Types of NFT wallets</h2>There are three basic types of crypto wallets: software and hardware wallets and a vault.<h3>Hardware wallet, also known as a 'cold wallet'</h3><figure class="image"><img src="/uploads/Hardware_or_cold_wallets_56045ca7dd.png"></figure>A hardware wallet is a physical device similar to a USB stick that you might use to store files from your computer. Except that, in this case, you are keeping your crypto and NFTs.&nbsp;Well-known cold wallets include <a href="https://www.ledger.com/">Ledger</a> and <a href="https://trezor.io/">Trezor</a>. To access the data and assets stored on this cold wallet, users will need to physically plug the device into their computer.&nbsp;The cold wallet will keep digital currencies and NFT assets instead of being stored online within a server. Because hardware wallets are not connected to a server, they are often considered to be in 'cold storage', thus the term cold wallets.Moreover, even when cold wallets are connected online, the assets stored on the device are almost impossible to steal.Cold wallet transaction signings are finalised with private keys in-device and then posted to the network via an internet connection. Since private keys never leave the device, malware can't obtain the information needed to falsify a signature.<h3>Software wallet, also known as a 'hot wallet'</h3><figure class="image"><img src="/uploads/Software_or_hot_wallets_46d8c1def3.png"></figure>A software wallet is an application or computer program that can be downloaded and installed on a desktop or mobile device. Known software wallets include <a href="https://metamask.io/">MetaMask</a>, <a href="https://rainbow.me/">Rainbow Wallet</a> and <a href="https://www.coinbase.com/wallet">Coinbase Wallet</a>. Typically, software wallets are far more convenient and accessed quicker than hardware wallets because the NFT wallets' private keys are stored online.&nbsp;As the NFT wallet remains connected to the internet, unlike hardware wallets that are considered ‘cold’ - software wallets are considered 'hot.' Many NFT marketplaces require users to use a hot wallet to facilitate transactions, making this type of wallet the primary choice for quick and easy trading.However, as hot wallets are always connected online and to a server, they are far more likely to open to scams and attacks and thus more likely to be hacked and therefore are considered less secure.&nbsp;<h3>Vaults</h3>Sometimes, crypto users' money is in different places. This is similar to why we keep some cash in a bank account and a savings account. Similarly, cryptocurrency holders can organise funds into different wallets or store their crypto assets in a vault, like <a href="https://gnosis.io/">Gnosis</a>, one of the most popular vaults.A vault can receive cryptocurrency and digital assets like a standard NFT wallet. Still, adding optional security steps can also prevent stored assets from being immediately withdrawn.<ul><li>Users can invite trusted individuals to co-sign withdrawals, which requires them to approve a transaction before users can complete it.</li><li>Vaults also go through a secure approval withdrawal process after creation. Unapproved vault withdrawals will be cancelled within 24 hours.</li></ul><h2>Which NFT wallet to choose? Which is best for me?</h2>A hot wallet is a way to go regarding minting and shorter-term trades. However, crypto and NFT holders should use a cold wallet to store their most valuable assets for enhanced security.&nbsp;MetaMask is a well-known hot wallet used to manage NFT transactions, and it's great for novices looking to set up their first software wallets. MetaMask and others like Coinbase Wallet and Rainbow Wallet connect to a mobile or desktop web browser, allowing users to log in and facilitate transactions on NFT marketplaces and platforms.&nbsp;If you're interested in hardware wallets, then Ledger and Trezor are two solid brands you can trust. For vaults, our community prefers Gnosis.&nbsp;We asked our community which do they use, and the consensus was the following:"Three wallets are best practice, a hot wallet for minting (buying NFTs), a cold wallet for buying and selling on OpeaSea, and a vault that uses signing with keys in separate locations."Whichever NFT wallet a user decides, it is imperative they must follow the instructions to set up the wallet, physically write down the seed recovery phrase, and store it in a safe place.&nbsp;<h2>What do NFT platforms use?</h2>Presently, we are witnessing a massive revolution in the world of technology - with more of our assets being stored online, known as the <a href="https://supplain.io/news/what-is-the-metaverse">metaverse</a>.&nbsp;Subsequently, the demand to securely access and store our online digital presence and assets means we need an NFT wallet. Therefore, getting the basics, such as an NFT wallet, is vital to have the best in this emerging metaverse.&nbsp;Several NFT marketplaces, like <a href="https://makersplace.com/">MakersPlace</a> and <a href="https://niftygateway.com/">Nifty Gateway</a>, allow users to purchase and sell their NFTs using traditional fiat payment methods. Other marketplaces like <a href="https://opensea.io/">OpenSea</a> and <a href="https://superrare.com/">SuperRare</a> insist users buy, trade and sell NFTs using a cryptocurrency, making a hot wallet needed to use their sites. (Although OpenSea supports fiat payments via a <a href="https://www.moonpay.com/" target="_blank" rel="noopener noreferrer">MoonPay</a> integration).The Ethereum blockchain and its native ETH cryptocurrency is the leading blockchain ecosystem used for facilitating NFT transactions. Trading platforms like <a href="https://nft.coinbase.com/">Coinbase</a> and <a href="https://www.binance.com/en/nft/home">Binance</a> allow users to buy cryptocurrencies like Ether with a credit card or bank account debit card, making them more accessible for everyday users.However, Ethereum isn't the only blockchain network where NFT sales happen. Considering the Ethereum network's high transaction costs and higher environmental impact, crypto-artists and NFT enthusiasts have continued seeking new blockchain ecosystems to create and trade NFTs.However, if you're still a beginner, it is probably best to stick to Ethereum, as it is seen as the one-stop shop for NFTs and one of the most popular cryptocurrencies and blockchains. Plus, as it's the most trusted and due to its more expensive gas fees, there are fewer scams happening on the network.<div class="raw-html-embed"><div style="background-color: #0E1EFF; color: white; border-radius: 10px; padding: 6px 16px 12px">
<h3 style="color: white;">Resources you'll love:</h3>
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<li><a href="https://supplain.io/news/what-are-nft-investments">What are NFTs, and why are they worth investing in?</a></li>
<li><a href="https://supplain.io/news/guide-blockchain-daos-metaverse-crypto-tokenisation">What are DAOs, blockchains &amp; tokenisation?</a></li>
<li><a href="https://supplain.io/news/nft-use-cases-digital-art"> Are NFTs only about digital art? Actually, no.
</a></li><li><a href="https://supplain.io/news/nft-terms-nft-vocabulary"> NFT terms you need to know [Test your NFT vocabulary]
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NFT wallets may initially be confusing, but if you wish to buy, sell and trade NFTs, they are a must. Read our guide to the different NFT wallet types.

Guide to getting started with NFT wallets

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<figure class="image"><img src="/uploads/1_29_06_949d2076ef.png"></figure>With supply chain technology rapidly advancing in all sectors, it's easier to collect and analyse data. However, the more information a company accumulates, the more likely it will create bottlenecks in using this data.&nbsp;This is known as a supply chain data silo. When this appears, analysing and collecting data becomes obsolete as almost nobody can review and use the information to make sound business decisions.Despite even the best intentions of analysing and using all supply chain data, the issue remains that there is so much of it, and some are useful for specific supply chain stakeholders whilst some are more relevant to others.&nbsp;<h2>What are supply chain data silos?</h2>A supply chain data silo is a buildup of supply chain data that may or may not have been analysed but has been obtained. Meaning that whilst the data has been collected, it is either inaccessible or has not been reviewed.A supply chain data silo occurs when a batch of information is only accessible by a specific organisation or department. Given the involvement of different parties, organisations often end up with various data sources that can be challenging to manage and sync with other teams.&nbsp;<h2>Why do supply chain data silos occur?</h2><figure class="image"><img src="/uploads/3_29_06_9f7d392cb8.png"></figure>When supply chain data is unreviewed, it can lead to more significant problems for logistics, retail, manufacturing, supply chain and transportation companies, ranging from lost business opportunities, revenue, or costly fees.&nbsp;Inconsistent and incomplete supply chain data will lead to flawed decision-making and cause costly errors and delays to supply chains - thus causing a headache for suppliers and consumers.For instance, the Natural Resources Defense Fund (NRDF) <a href="https://www.nrdc.org/resources/wasted-how-america-losing-40-percent-its-food-farm-fork-landfill">reportedly wastes 40% of food produced in the United States</a>, costing approximately $218 billion annually. Part of the waste is due to a lack of data collection, which results in data siloing. What information is collected isn't reviewed, analysed, or shared with the right people in time for the NRDF to make better-informed decisions.But this problem isn't only applicable to one industry sector. Supply chain data siloing is an issue across all supply chain sectors and heavily impacts logistics, retail, manufacturing and transportation companies.Modern supply chains are under pressure to make reactive decisions on the spot, especially lately, concerning the <a href="https://supplain.io/news/supply-chain-trends-and-predictions">COVID-19 pandemic and shipping lane bottlenecks</a>, not to mention war and conflict in 2022. Thus, having correct information based on the accurate, current data available to supply chain stakeholders will mean the difference between a successful and failing supply chain business.&nbsp;When supply chain data is unreviewed, it can create lost opportunities, revenue, and even expensive fees that will impact your bottom line. In addition to these losses, companies can inadvertently make poor business decisions without the proper information resulting in further damages.There are four primary reasons that data silos occur.<h3>1. Lack of an internal network&nbsp;</h3>Companies fail to manage an internal network in which they can communicate between their departments. Numerous departments rely on different information to function. This information is kept in overlapping, often inconsistent records, resulting in significant inefficiencies.&nbsp;Without a cohesive internal data network, departments make contradicting decisions, and poor choices are made, creating more data silos. Data continues to back up as more information is collected and left idle, worsening the silo.<h3>2. Technical infrastructure does not scale with the company</h3>When a company grows rapidly and fails to scale its infrastructure accordingly, departments collect data ad hoc. Without proper planning on how to scale, legacy infrastructure becomes overwhelmed and creates further supply chain data siloing. Not only does this slow data processing, but it can also create a significant backlog for data managers and IT.<h3>3. Poor organisational structure</h3>Restrictive access control systems contribute to poorly shared data amongst others who may need it. Whilst it is essential to protect your information, supply chain data must be accessible within the organisation to be shared and reviewed to prevent a silo. If team members cannot work together to move data, it will inevitably get caught up in a silo.<h3>4. High interoperability between partners&nbsp;</h3>Organisations don't wish to share all their data, so they create replicable data in case they need it for a piece of the supply chain journey. To do this, they make their own platforms and systems that do not integrate with other supply chain parties, thus building up more data that will go unused.&nbsp;It is often the last point that is the most damaging yet the most likely to be remedied amongst supply chains. A <a href="https://supplain.io/news/road-ahead">standardisation of supply chain data</a> is what is needed to avoid supply chain data siloing.<h2>How to avoid supply chain data silos</h2><figure class="image"><img src="/uploads/2_29_06_72a8bb6b1a.png"></figure>The first step in avoiding supply chain data silos is preparing a strategy of reimagining how you want your supply chain, logistics, manufacturing, retail or transportation company to modernise.Another way to help prevent data silos is by implementing supply chain management tools.&nbsp;<h3>Collecting data</h3>First and foremost is to collect and review the data you have. Although companies may believe you have too much, the more, the better.&nbsp;Collecting data allows an organisation's decision-makers to better understand their industry and business. Supply chain parties must collect data during manufacturing, packing, transportation, and distribution processes.&nbsp;This data will provide supply chain stakeholders with a holistic oversight of their organisation and sector, ensuring they can identify bottlenecks and determine which solutions are needed for each silo.&nbsp;More data means more knowledge, enabling decision-makers to assess vulnerable areas and strengthen them.Additionally, more data between departments and other parties can reduce miscommunication, or in other worse, ensure that the supply chain data is not duplicated and thus amended as it moves from one organisation to another.&nbsp;So, whilst data collection is crucial, organisations must be collecting the correct data. Too much inaccurate or duplicated data builds up in the silo.&nbsp;Once supply chain data is collected, stakeholders must analyse it and distribute the findings to the appropriate teams and partners. If this is not done, the supply chain data collection is wasted, causing a silo to develop. A solution to ensure delivery to the proper channels is using a supply chain management platform.&nbsp;These platforms help companies collect data and distribute that data in real-time. By having data delivered immediately, companies optimise their processes from beginning to end. However, each company uses its own supply chain management platform; there is a risk of inaccurate data, inoperability and no standardisation of which data is the correct information.<h3>Centralised data integration</h3>Data integration is an alternative source of application integration and an equally beneficial avoidance of silos. All data will be shared and analysed across the company in a centralised data warehouse.&nbsp;Data integration is beneficial in making all supply chain data accessible for analytics and business intelligence systems whilst preventing data silos. However, because all data is processed centrally, it does not eliminate the possibility of inaccurate or replicated data from other supply chain parties.&nbsp;<h3>Application standardisation</h3>An optimal way to avoid supply chain data silos is through application standardisation. Application standardisation is the enabling independently designed applications to work together cohesively through one standardised protocol.&nbsp;A significant contributor to supply chain data silos is the replication or contradiction of data sets, often caused by multiple sources of information from several parties. Once one organisation integrates its company's existing applications, its systems will verify that data is original and accurate and original, reducing the amount of unnecessary data that causes a silo.One application standardisation method uses a <a href="https://supplain.io/news/supply-chain-nfts">blockchain protocol</a> that facilitates a set of rules that all parties cannot amend. Companies can build their integrations and applications onto the protocol, only sharing the relevant data with different supply stakeholders along the supply chain journey, from manufacturer to consumer.&nbsp;<h2>Addressing supply chain data silos</h2><div class="raw-html-embed"><iframe width="780" height="480" src="https://www.youtube.com/embed/Ny1jJYtgyWI?controls=1&amp;rel=1&amp;autoplay=1&amp;vq=hd720p60" title="YouTube video player" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen=""></iframe></div>By addressing supply chain data silos, companies set themselves up for success. When a company can eliminate bottlenecks, ensure products arrive on time and in good condition and strengthen their bottom line, the company's overall health benefits.Whilst not all companies can afford to fully automate their supply chain with advanced technology, keeping the status quo is costly. Even a frequent manual evaluation of your company's supply chain can save you time and money in the long run.Remember that communication between departments through every supply chain step is the key to ensuring data silos don't harm your business.<h2>Integrated silos positively impact supply chains&nbsp;</h2>Managing silos is a real challenge facing supply chain stakeholders, manufacturers and logistics companies. Supply chains require a human and financial investment for companies. They can have irreversible consequences in case of error or delay. But when new technologies are created and integrations standardised for all its third parties, the risks are negligible, and the benefits are genuine.Companies with an integrated supply chain increase their flexibility to adjust to client requests, competitors' actions, and events within the industry. They also reduce waste and lower costs. Overall, an integrated supply chain is gaining an advantage over the competition and tangible business benefits.&nbsp;<div class="raw-html-embed"><div style="background-color: #0E1EFF; color: white; border-radius: 10px; padding: 6px 16px 12px">
<h3 style="color: white;">Resources you'll love:</h3>
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<li><a href="https://supplain.io/news/supply-chain-trends-and-predictions">Supply chain trends and predictions to look out for in 2022</a></li>
<li><a href="https://supplain.io/news/supply-chain-nfts">Supply chain NFTs - what value can they bring?</a></li>
<li><a href="https://supplain.io/news/blockchain-applications-use-cases">19 Blockchain application use cases that will surprise you</a></li>
<li><a href="https://supplain.io/news/blockchain-applications-use-cases">Story Behind World of Freight</a></li>
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With supply chain technology rapidly advancing in all sectors, it's easier to collect and analyse data. However, more data, more supply chain data silos. How do you avoid this?

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Avoiding supply chain data silos

<figure class="image"><img src="/uploads/1_27_06_0dc5bc5a93.png"></figure>Research has indicated that there are <a href="https://www.businesswire.com/news/home/20210928005317/en/Global-Parcel-Volume-Exceeds-131-Billion-in-2020-up-27-Percent-Year-Over-Year-Finds-Pitney-Bowes-Parcel-Shipping-Index">4,160 parcels shipped every second, with volume expected to double to 266 billion in 2026</a>. In 2021 there were colossal supply chain disruptions caused by interoperability and closure of shipping lines. Combined with the COVID-19 pandemic and war and conflict occurring worldwide, it is evident that supply chains are under strain.&nbsp;One solution muted to increase supply chain interoperability between stakeholders is NFTs in <a href="https://supplain.io/news/blockchain-applications-use-cases">blockchain-related technology</a>. Blockchain technology has massive potential for supply chain, eCommerce and logistics, ensuring accurate traceability control.&nbsp;NFTs contain digital data that is immutable and thus make it possible to uniquely identify products with their owners and include specific additional details.&nbsp;Nobody can manipulate this information, and trust is strengthened among every supply chain party, from manufacturers to last-mile deliveries.Blockchain technology is a popular use case for supply chains because it provides an entire record of all the supply chain phases a product undergoes, which is critical for supply chain businesses in the food and health industries.Currently, NFTs are primarily used to create collectables in games and sports, buy and sell digital art, and collect music royalties. They show overall innovativeness, but does it make sense to use NFTs in other business scenarios?&nbsp;And why is an NFT different from other tokens? This article explores the base practical applications for NFTs, especially in supply chains.<h2>Why is the NFT supply chain a solution?</h2><figure class="image"><img src="/uploads/2_27_06_82b8b578c9.png"></figure>Instead of long, extensive, complex paper trails that go along with transactional ownership and activity of various items, NFTs create a digital 'token ID' that attaches to that item throughout its entire lifespan. The uniqueness of each NFT is defined explicitly by the data stored within the NFT's metadata. The metadata itself is updated and stored on a blockchain in real-time.&nbsp;For supply chain stakeholders, NFTs enable them to access the same immutable record on the digital ledger, reducing and most likely eliminating discrepancies in information data flow between stakeholders.&nbsp;The immutability and transparency features of blockchain technology guarantee the authenticity and reliability of data in supply chains. It is why many supply chain <a href="https://supplain.io/news/leading-blockchain-technology-companies">blockchain technology companies</a> have flourished.&nbsp;NFTs increase efficiencies and reduce costs incurred when goods are accrued and sourced- they produce data at every step of the supply chain with its location, quantity, what's inside, VAT, customs and other helpful information that can be monitored through each step if required.&nbsp;<h2>Eradicating today's supply chain problems using NFTs</h2><figure class="image"><img src="/uploads/3_27_06_88708e7b3f.png"></figure>A delay in only one part of the supply chain results in pausing the remaining sectors for the journey of a product. For instance, cars have hundreds if not thousands of parts worldwide in the automotive manufacturing industry. Suppose one of those items is missing, whether it's an oil filter or a complex dashboard touchscreen. In that case, the vehicle can't be completed, and the production facility grinds to a halt.Because NFTs create a digital twin for any item (from car seats to engine parts), the item's real-world metadata, its unique identity, current location, responsible party, possession, container temperature, and other metrics to be attached to it – garnering valuable insights about its condition, location or delivery data.&nbsp;This metadata is automatically updated on the blockchain as conditions change, provided all parties agree to the change. For instance, if customs have been paid, all must agree it has been paid. If a part is not added, the manufacturer will source alternative options from another location to keep the supply chain flowing.<a href="https://supplain.io/news/supply-chain-trends-and-predictions">Supply chain trends</a> have seen several organisations have already started using blockchain for tracing their product's journey through the supply chain from its origin to the consumer.Supply chain stakeholders are utilising the NFT-blockchain framework to leverage its uniqueness in tracing assets to demonstrate tracking and stopping counterfeited products from entering the market.&nbsp;This means that buyers can individually authenticate all products they purchased, whether they are genuine, and what they have paid. Furthermore, they can track their product through the supply chain.&nbsp;<h2>Supply chain NFT technology - is it workable?</h2><figure class="image"><img src="/uploads/4_27_06_562b267d03.png"></figure>Although NFT supply chain technology is still in the experimental stage, and specific applications in the industry are still being explored, blockchain NFT solutions geared towards supply chain, eCommerce and logistics have already begun.&nbsp;Companies like <a href="https://supplain.io/news/road-ahead">Supplain are creating digital twins</a> to update the data in the NFT, storing it in a blockchain protocol as the product advances along each supply chain step. As detailed above, when goods arrive at their destination, supply chain stakeholders can access a reliable, detailed history of the entire product journey, from its origin to the minute it's delivered.If we relate the existing use cases of NFTs to the domain of supply chains. The question arises which unique assets can we represent by tokens, and when does it make sense to make these tokens non-fungible?&nbsp;The following list includes some of the assets that an NFT can represent to clarify their exchange or ownership history.<h3>1. Product authenticity&nbsp;</h3>Product authenticity and provenance is a famous use case of blockchain technology. In many industries, blockchain and <a href="https://supplain.io/news/guide-blockchain-daos-metaverse-crypto-tokenisation">tokenisation</a> are applied to track products such as food, medicines or fashion items. Tokens track the facilitation, buying and movement of consumer goods through a supply chain. By creating NFTs in the form of a product digital twin or product batches, assets can contain a unique identifier of the physical product.<h3>2. Tracking and traceability of assets&nbsp;</h3>When working with food, healthcare products, chemicals or perishable goods, it's essential to know what manufacturing and logistics process the items have gone through. End consumers need to know for how long they have been in transit, where they have been (environmental factors) and be traceable in real-time.&nbsp;<h3>3. Increased data security&nbsp;</h3>The data transfer between various supply chain parties is exceptionally secure. NFT metadata is stored in a blockchain protocol as a smart contract, preventing the information entered from being removed, amended or reproduced without authorisation.<h3>4. Unique digital business documents&nbsp;</h3>Business documents, including certifications, invoices and sales orders, always contain a unique identifier. NTFs can also represent these types of documents.<h3>5. Responsibility for asset&nbsp;</h3>Knowing which supply chain party is responsible in the various stages across the supply chain is imperative to facilitate a smooth, flowing supply chain. Is the manufacturer responsible? Are customs responsible or the last-mile delivery company? With NFTs, all parties can determine who's in charge of a product at any time. In addition, to issue an NFT, both parties must enter into a liability agreement. In other words, an NFT can't be sent if the counterparty doesn't agree to receive it, just as the counterparty won't deliver the goods if the responsible party hasn't received the NFT.&nbsp;Simply put, the principal advantage of NFT supply chain technology in logistics is security, interoperability and transparency when transferring data between all supply chain parties concerning a specific product.<h2>Supply chain NFT uses</h2><figure class="image"><img src="/uploads/5_27_06_b653333e8a.png"></figure>From luxury goods to healthcare, NFTs' traits of transparency and immutability are still appealing and effective. Take healthcare manufacturing, for example. Blockchain NFTs can eradicate counterfeit and <a href="https://supplain.io/news/nft-scams-victims">scam</a> pharmaceutical products by verifying their genuineness and ensuring the correct people get their medication.&nbsp;Whilst users can use the technology to identify fake prescriptions. It also can be deployed as a method for customers to visibly identify the conditions of each pharmaceutical product on its supply chain journey, including:<ul><li>storage locations,&nbsp;</li><li>environmental factors (temperatures and humidity)</li><li>VAT/ customs, if applicable and&nbsp;</li><li>storage duration</li><li>patient data</li><li>use by date of the medicine</li></ul>Looking at the list above, we see several use cases already facilitated by blockchain-based tokens. For example, tokens are already being used for a few years to trace a product back to its origin in food traceability systems.&nbsp;Another <a href="https://supplain.io/news/nft-use-cases-digital-art">use case is the luxury goods market</a>. Companies have teamed up to protect consumers from unknowingly buying high-end goods. Brands provide a corresponding unique NFT that contains the metadata with the following information:<ul><li>the product's origins&nbsp;</li><li>information about the manufacturing process</li><li>delivery information</li><li>VAT/customs data</li></ul>We already used NFTs, but the term has found its way into the mainstream now, and we can call it what it is: an NFT, which can trace a unique asset.&nbsp;You could argue that the NFT is a slightly different token implementation that enables you to create a unique digital token for each unique underlying asset, which was not possible before using <a href="https://supplain.io/news/andre-veskimeister-web3-2022">ERC-20 tokens</a> (An ERC20 token is a standard used for creating and issuing smart contracts on the Ethereum blockchain).<h2>Will NFT supply chain use cases increase?&nbsp;</h2><div class="raw-html-embed"><iframe src="https://www.youtube.com/embed/m18dJC-1IUw?controls=1&amp;rel=1&amp;autoplay=1&amp;vq=hd720p60" title="YouTube video player" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" width="780" height="480" frameborder="0"></iframe>
</div>The short answer is yes.&nbsp;It certainly makes sense to use NFTs to track (digital) assets, especially when it is required to represent unique assets. Tokenised assets in supply chains have moved from being in the realm of cryptocurrency to an industry niche term.&nbsp;Though, the implementation of the tokens is a bit different from ERC-20 tokens. It highly depends on the use case which <a href="https://supplain.io/news/road-ahead">token standard</a> should be used. Still, the existing tokens used in traceability use cases and tokens representing business documents will be replaced by NFT-based implementations.NFTs will positively disrupt the supply chain industry by efficiently eradicating the pain points resulting in massive disruptions caused by war, pandemics and supply chain delays.When all stakeholders in a particular supply chain operate off a 'single source of trust,' users can avoid discrepancies, mismanagement and miscommunication. The secure sharing of data and seamless integration within supply chain stakeholders (all enabled by <a href="https://supplain.io/">supply chain NFT technology</a>) are already being deployed by forward-thinking companies that understand what's at stake.&nbsp;Further deployment of NFTs (coupled with artificial intelligence) in this industry will help avoid catastrophes like supply chain disruptions, pandemics and war as occurred in 2021 and this year.&nbsp;&nbsp;<div class="raw-html-embed"><div style="background-color: #0E1EFF; color: white; border-radius: 10px; padding: 6px 16px 12px">
<h3 style="color: white;">Resources you'll love:</h3>
<ul>
<li><a href="https://supplain.io/news/supply-chain-trends-and-predictions">Supply chain trends and predictions to look out for in 2022</a></li>
<li><a href="https://supplain.io/news/leading-blockchain-technology-companies">47 leading blockchain technology companies to watch</a></li>
<li><a href="https://supplain.io/news/what-is-the-metaverse">The Story Behind World of Freight</a></li>
</ul>
</div></div>&nbsp;

Supply chains NFTs are being suggested to increase interoperability between supply chain parties and protect supply chains from pandemics, closed shipping lanes and conflict. But if so, what value can they bring?

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Supply chain NFTs - what value can they bring?

Read about the leading blockchain technology companies to watch this year. This list is constantly updated, so return and read about the latest blockchain companies.

Leading blockchain technology companies to watch

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Web 3.0 will bring new levels of trust to the internet. But can web 3.0 solve the problems of web 2.0? 

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Can web 3.0 solve the problems of web 2.0?

Resources you'll love:<a href="https://rikas.geenius.ee/rubriik/uudis/puust-ja-punaseks-nft-kunst-rumalatele-voi-idurevolutsiooni-alus/" target="_blank" rel="noopener noreferrer">Original interview</a> in Estonian by Joonas Alliksaar, translated by Supplain.An NFT, or non-fungible token, is by definition a digital asset built on a blockchain with unique properties that cannot be tampered with.According to Sander Gansen, an Estonian NFT enthusiast and CEO of the Estonian blockchain company WOF Labs, NFT is simply one technological tool that allows the creation of distinct sets of information. "So to speak, a file with a serial number to distinguish them," he told Genius.As a result, NFTs can be used to display and move all kinds of information, the most popular of which today is the distribution, buying and selling of digital art.<h2>Publicised examples in the media do not paint a fair reflection of the NFT market</h2>NFTs can also be used to collect 'moments' in Internet history. For example, in March last year, Iranian crypto entrepreneur Sina Estavi bought the first tweet from Twitter founder Jack Dorsey in the form of an <a href="https://supplain.io/news/what-are-nft-investments">NFT for $2.9 million.</a>Instead of a return on investment, Estavi got a rather nasty surprise when he put the tweet to auction at the beginning of April this year, promising to donate half of the money earned to charity.In his post, he assumed that the price of the NFT had multiplied over the year and that at least $25 million would be donated. He probably did not expect that the auction would receive only seven bids, the highest of which was 0.09 ether, or about $277 at the time.Estavi's failed investment is not an exceptional example in the world of NFTs. It illustrates well that there is still a lot of ignorance and stupid money in the emerging NFT market.According to Gansen, Dorsey's first tweet was never of any value. In fact, the purpose and function of NFTs are much more than just collecting random moments and works of art.<h2>Collectors should view NFT art like any other artwork</h2>Looking at the <a href="https://supplain.io/news/nft-statistics-infographic">statistics</a>, according to Gansen, the volume of trading in NFTs as tradable images has been rising in recent weeks, and in general, we can talk about market stability rather than bursting the bubble.&nbsp;According to him, the market's maturation is indicated by the fact that all sorts of "strange" things, in which a lot of money was invested in the first months, are disappearing.While in the early days of NFTs, art was indeed created or moments were recorded (e.g. the first tweet), then according to the enthusiast, today, it has been realised that such NFTs have no value without added utility."Value arises when the creator of a work is famous, and people want to own it to increase their clout via it, or when it comes with some <a href="https://supplain.io/news/top-nfts-with-utility">real utility</a>, such as access to a community, events, games, series or comics that cannot be experienced otherwise," explained Gansen.Therefore, investing in digital art, NFTs should be seen as an investment in any other form of artwork.<h2>Crowdfunding for startups through NFTs</h2>According to Gansen, NFTs are <a href="https://supplain.io/news/nft-use-cases-digital-art">much more than art</a> lately and are even used to finance startups building any type of products."In such case, the team promises to create something, makes the NFT that is indirectly related to it, builds the finished product with the money earned, and then either gives the right to use the finished product only to the owners of the NFT or gives them a share in the product," he described. However, according to him, the sale of NFTs is not comparable to an IPO, as Initial Public Offerings would lead to becoming a public company with rules for creating a supervisory board. Public companies usually are perceived as more trustworthy by their customers."If we compare it to anything, then it is like crowdfunding where the shared are tradable. However, it is important to point out that the sale of NFT does not equate to the sale of shares; it is rather a pre-sale of products on a larger scale, where these products can be resold later. Still, the buyer does not necessarily have the right to make decisions or profit," said the expert.This is precisely the kind of NFTs that, according to Gansen, attract the most money and attention today as they retain or increase in value. At the same time, digital works, once bought at a high price, which have no actual utility, will lose their existing value in the eyes of investors."Last week, for example, Moonbirds NFT, created by a startup entrepreneur and investor Kevin Rose, came out and made more than 70 million in sales in just minutes. And buyers have already generated sales worth several hundred million," he said."It is important to understand that there are also NFTs that have no value at all but are only used to move information, such as logistics-related data," he added.&nbsp;According to Gansen, anyone who wants to get rich quickly with NFTs without delving into technology and projects is probably in the wrong place.As for Dorsey's tweet, it might have some value in the future, but only for the people who collect moments from the history of the Internet. "There are such people, but even in this case, the value comes from the fact that someone wants it more than the one who last bought it," he said.Resources you'll love:<ul><li><a href="https://supplain.io/news/nft-use-cases-digital-art">Are NFTs only about digital art? Actually, no.</a></li><li><a href="https://supplain.io/news/nft-scams-victims">NFT scams - how not to be a victim</a></li><li><a href="https://supplain.io/news/nft-terms-nft-vocabulary">NFT terms you need to know [Test your NFT vocabulary]</a></li></ul>

According to NFT enthusiasts, NFT art is not suitable for those who want to get rich quickly.

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NFT art - is it for fools or the basis of a startup revolution?

Sander Gansen

The goal of Supplain is to facilitate global supply chain companies, harmonise the concepts used within the industry into a standardised taxonomy, and create an international data exchange protocol.

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Supplain. The Road Ahead

<figure class="image"><img src="/uploads/blog_1_2_414083fbb2.png"><figcaption>The metaverse is not only virtual reality (VR)</figcaption></figure>The metaverse is the most exploited term nowadays. Is it part of virtual reality (VR)? Is it another name for Facebook (Meta)? Whatever terminology you have heard, the metaverse will be where most innovation will occur in the coming years.&nbsp;But do we understand this term?&nbsp;What does metaverse mean?&nbsp;And where is it?&nbsp;And who is developing it?&nbsp;And the most critical question - how my life will change within the metaverse?Lots of questions for sure, and yet no real answers. We are not answering these questions directly but envisioning the future path for the metaverse.&nbsp;<h2>What is the metaverse?</h2>Most of the definitions of metaverse concentrate on the visual side of the metaverse.&nbsp;This is a big part of the metaverse, whether virtual reality or augmented reality of cyberspace, but this is not what we mean by the metaverse. The metaverse IS definitely NOT only VR or AR gamified virtual worlds.For sure, the metaverse may have a visual interface, but not everyone agrees that the metaverse will be visual. For instance, Discord could already be a metaverse. Still, it will be different or personalised for every user. What we will experience are the content and connections that are represented in a personalised Metaverse space.&nbsp;Content refers to the digital and tokenised physical assets in the digital world, and contacts refer to our connections in the digital world. And contacts are the most crucial component of every user's life.&nbsp;The, or more accurately,&nbsp;your&nbsp;metaverse will incorporate every user's personal contacts and content in one place. And critically,&nbsp;you&nbsp;will own this digital space, not a service provider as we have been accustomed to. This is the fundamental difference compared to today's setup, where service providers and digital platforms control everything.&nbsp;&nbsp;<h2>Isn't the metaverse just Facebook's gimmick?</h2>Although&nbsp;<a href="https://www.theverge.com/22749919/mark-zuckerberg-facebook-meta-company-rebrand">Facebook has rebranded as Meta</a>&nbsp;and aims to enter the metaverse, a Web3 space, they are still a Web2 company.This is because Web2 architecture is built in a centralised manner - in other words, a company or organisation owns a service, product or platform and manages and cares for the services they offer, including holding our personal data. Facebook is one such Web2 company - the same as Google, LinkedIn, TikTok and every other service with an internet presence.&nbsp;But as they are centralised services, there is almost no user control over that service. Facebook decides what content to push to every user's wall; all our contacts, images and data are locked inside Facebook - there is no way to transfer your contacts or content to other platforms. Their algorithms are calibrated to achieve maximum income for Facebook.&nbsp;They are less helpful to platform users and content creators who wish to monetise Facebook for their own use. Users do not control almost anything and certainly do not profit from the total value of their content.So the first important point to note is that the metaverse of the future will be decentralised - it will not have an overseeing organisation or business. Although, many would argue that running any such system takes enormous computing power and thus cannot be fully decentralised. The way a decentralised system works is perhaps it is more simply inclusive to the users via more distributed ownership models - but the front end and the servers would still be centrally managed.The metaverse is different from today's Web2 solutions because everything is under the custody of a user. Web3 or the metaverse is your personalised cyberspace. You will make the rules there.&nbsp;The most significant structural change is about changing ownership, trust and connectivity.<h2>What can you do in the metaverse?</h2>The metaverse will undoubtedly have all sorts of applications.&nbsp;I must first emphasise that there is not only a 3D gaming element, even if gaming comes to mind right away. Because the digital gaming economy is ever-expanding, with a global market size of&nbsp;<a href="https://www.researchandmarkets.com/reports/4489603/global-digital-games-market-2014-2022#:~:text=In%202016%2C%20the%20Global%20Digital,of%20%24272.24%20billion%20by%202022.">$272.24 billion this year</a>&nbsp;- the metaverse is sure to draw its fair share of this market.Thus, instead of just watching E-sports on a computer screen, why not hop into a virtual stadium filled with users worldwide? Contrary to opinion, despite less physical interaction, these virtual interactions will be far more personal and immersive because everyone within this gaming verse shares the same core values.&nbsp;Whole worlds are being built already, as the race is on to be the biggest and best with the most users. The&nbsp;<a href="https://worldoffreight.xyz/">play-2-earn (P2E)</a>&nbsp;metaverse platforms on offer are gaining popularity at a rapid rate.&nbsp;<div class="raw-html-embed"><video width="100%" autoplay="" loop="" muted="" playsinline=""><source src="https://strapi.supplain.io/uploads/wof_promo_790x395_a18533b3ca.mp4" title="YouTube video player" type="video/mp4"></video></div>Of course, gaming is merely one aspect of the metaverse.&nbsp;It is one of the biggest debates - is the metaverse the same as VR,&nbsp;or&nbsp;do the metaverse, and VR simply support each other? In which case, the metaverse is the ecosystem that lets users connect, collaborate and, in some cases, trade their virtual goods. Furthermore, the metaverse can exist within any visual medium, even without one, but it would always need to have (1) users and (2) new types of ownership models.Now, one can create all sorts of new economies mirroring the real world. Event organisers can organise concerts and other shows in the metaverse.&nbsp;How about putting on the headset and diving into a crowded theatre for movie night from the comfort of your couch?&nbsp;Virtual malls and grocery stores will all be possible. Sounds ludicrous?&nbsp;Not really.Imagine being able to browse the vegetable or meat sections at the grocery store without actually needing to visit the physical grocery store and have the contents of your virtual cart delivered to your door hours later.&nbsp;The metaverse is not only about fun and practicality. The COVID-19 pandemic forced most&nbsp;<a href="https://respiray.com/how-to-safely-return-to-the-office-post-covid/">companies into utilising zoom meetings</a>.&nbsp;Zoom meetings are dependent on good intent connections and thus can be 'clunky' and 'break up' online.<figure class="image"><img src="/uploads/blog_3_9bf56c7373.png"></figure>The metaverse could allow for a more in-depth experience similar to real-life encounters where one can make eye contact or even have a private side conversation during the meeting (we all know these are impossible and awkward in a standard zoom setting). The metaverse will make networking and other activities for entrepreneurs and business-minded individuals more productive.&nbsp;For those lucky (or unlucky) enough to have experienced online college courses in the past, imagine being able to attend those classes in the metaverse surrounded by other students.&nbsp;Additionally, those limited by their physical or geographic locations could gain access to these learning experiences in a way not possible before. Teachers would gain a whole new edge in creating lesson plans and be able to guide students more effectively. Furthermore, training for specific industries can take on an unmodified new form. All professions can take seminars and certification courses, for instance, electricians, plumbers, and even medical personnel in the new digital world with "hands-on" activities instead of just reading some books and taking the test.&nbsp;<h2>Why we should care about the metaverse</h2><figure class="image"><img src="/uploads/blog_2_1_8d708ee55a.png"><figcaption>Your wallet will be the digital you</figcaption></figure>The metaverse is the next iteration of the internet. All your publications are there; your content is saved under your control. To connect with others in their digital space, you will need to connect to someone else's metaverse.Your wallet will contain all your digital assets in the metaverse - it will act as your key. Wallet holders will store their tokenised assets there. You will save your investments, real estate, bank details, artworks, cryptocurrencies, educational and professional merits, medical records, passwords, avatars, and current physical and mental conditions under your control, not another organisation.In fact, whatever you own, what you are and whom you want to be. The metaverse is the digital you.&nbsp;<h2>We should care about the metaverse</h2>Following along, one can see a trend with the metaverse turning the ordinary Web2/analogue world into a whole new, secure, private, data protecting, and immersive&nbsp;<a href="https://supplain.io/news/andre-veskimeister-web3-2022">Web3 experience</a>, fusing the digital and real-world into one.&nbsp;The advent of crypto and&nbsp;<a href="https://supplain.io/news/what-are-nft-investments">NFTs</a>&nbsp;have made all this decentralisation possible within the newly forming metaverse in ways not possible just a few years ago. Indeed, this space will see countless new use cases for the growing technology in the years to come.Web3 blockchain technology will hold everything you own. It gives you back the control of your digital presence and, on top of that, also includes your material assets. The metaverse can and will have a 3D virtual reality interface, but this is not the most important part - taking custody of your social connections, and tokenised assets is.Resources you'll love:<ul><li><a href="https://supplain.io/news/guide-blockchain-daos-metaverse-crypto-tokenisation">What are DAOs, blockchains &amp; tokenisation?</a></li><li><a href="https://supplain.io/news/nft-events-conferences">Top blockchain, crypto and NFT events to flock to in 2022</a></li><li><a href="https://supplain.io/news/web3-solve-web2-problems">Can web 3.0 solve the problems of web 2.0?</a></li></ul>

The metaverse is the most exploited term nowadays. But what is the metaverse and why should you care about it?

What is the metaverse? (and why you should care)

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Justin Gaulrapp

Blockchain applications are more than bitcoin and cryptocurrencies. There are a plethora of blockchain application use cases that are being used right now.

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Blockchain application use cases

19 Blockchain application use cases that will surprise you

<figure class="image"><img src="/uploads/RENE_LUTTERUS_5306_fe63f80585.jpg"></figure>&nbsp;The first edition of <a href="https://supplain.io/news/nft-tallinn-2022">NFT Tallinn</a> was a huge success!What was initially a small community gathering, a party in a mansion at best, resulted in over 500 people joining us in person for the first web3 conference held in Tallinn, Estonia.Unlike other web3 and <a href="https://supplain.io/news/nft-events-conferences" target="_blank" rel="noopener noreferrer">NFT events</a>, this one only had one aim - bringing together public servants, business executives, investors and lawyers to show them that web3 is here.&nbsp;We wanted to exhibit the various use cases for blockchain technology, specifically utility NFTs, outside the financial sector and the art market. We hoped that this would result in a better understanding and higher acceptance of these new technologies by the legacy markets.&nbsp;We undoubtedly achieved this goal!<h2 style="text-align:justify;">Top NFT speakers didn’t disappoint</h2>We are incredibly thankful to all 50 speakers who joined us in Tallinn!<figure class="image"><img src="/uploads/20220406_0137_min_2_a2f6122a06.jpg"><figcaption>David Prinçay, Binance</figcaption></figure>Our special thanks go to our keynote speakers, including:<ul><li>the lead architect for the ERC-721 standard, <a href="https://www.linkedin.com/in/fulldecent/">William Entriken</a>,&nbsp;</li><li>the head of marketing in Europe for Binance, <a href="https://www.linkedin.com/in/david-princay/">David Prinçay</a>,&nbsp;</li><li>and the president for VaynerNFT, <a href="https://www.linkedin.com/in/averyakkineni/">Avery Akkineni</a>.</li></ul><figure class="image"><img src="/uploads/20220406_1428_min_111f0eb9a0.jpg"><figcaption>William Entriken</figcaption></figure>In addition to the international keynotes, we were honoured to attract so many public servants onto the stage. Special thanks go to the Minister of Entrepreneurship and IT of Estonia, the Undersecretary for Digital Development of Estonia, the Chairman of the Financial Supervision Authority in Estonia and the Head of the Financial Intelligence Unit for Estonia, all of whom participated in the panel stage discussions.Because we attracted a high calibre of speakers, we decided to amend the format at the last minute, dividing the whole schedule into three stages: the main stage, the deep discussion stage, and the hands-on workshop stage. Altogether, we had 32 sessions happen throughout the event, and we were pleasantly surprised by how many attendees were attracted to the two side stages, for the more intimate discussions and workshops.Ultimately, the themes covered included some fascinating topics, such as:<ul><li><a href="https://supplain.io/news/top-nfts-with-utility">NFT utility</a> and value beyond speculation,</li><li>Merging web3 and government-issued digital identities,</li><li>The changing landscape for policy for web3,</li><li>How are DAOs disrupting ownership and the future of work,</li><li>How to find quality art in the <a href="https://supplain.io/news/crypto-queens-women-nft-space" target="_blank" rel="noopener noreferrer">NFT space</a>?</li></ul><h2 style="text-align:justify;">Future of NFT technology</h2>From our team’s perspective, the biggest revelation came via William’s speech, where he described the background and future of NFT technology.Did you know that the creators of the NFT standard initially planned the primary use cases for NFTs to be in the realms of supply chain and licensing? Or that Microsoft is using NFTs within its Xbox Games Store and are one of the most significant NFT users globally?When asked the simple question of what is an NFT, we learned that any piece of paper with a sequence number could be an NFT. It removes all the magic when described like this, but this is what we were aiming to highlight. It’s simply an evolution of technology.&nbsp;Nothing more or nothing less.In addition to the speeches and discussions on the stages, we also featured some great activities for the participants, including a free to claim NFT!&nbsp;For example, attendees with artistic skills helped design a custom pair of sneakers with the <a href="https://futurekicks.io/">Future Kicks</a> team or draw some pictures via collaborative work software made by <a href="https://www.plutoview.com/">Plutoview</a>. All of these works of art were auctioned off to support Ukrainian charitable aid organisations at the afterparty.<figure class="image"><img src="/uploads/RENE_LUTTERUS_5396_min_8f1cca53ec.jpg"><figcaption>NFT charity auction</figcaption></figure>As for the free to claim NFTs - we had two projects! First, there was a collaborative project with renowned artist iSteef named <a href="https://looksrare.org/collections/0x1ef147b5a8d53E3895768C29F1221d7666D71501">Banalien | WOF x iSteef</a>. And Binance helped to launch the first official <a href="https://www.binance.com/ru/nft/collection/tallinn-2022-nft-564132097052033025">NFT Tallinn 2022 project</a>.<figure class="image"><img src="/uploads/RENE_LUTTERUS_5120_9827cbd05a.jpg"></figure>Outside of the main event, we also hosted a variety of side workshops, including:<ul><li>Hands-on workshop on writing the first smart contract + dApp w/ William Entriken</li><li>Discussing the Future of DAOs with Katrina Gamueda-Smith</li><li>Innovation seeks new solutions; regulations seek peace - how to find a balance?</li><li>A VIP brunch by Solid World DAO</li><li>And the VIP dinner hosted by us.</li></ul><figure class="image"><img src="/uploads/RENE_LUTTERUS_5247_min_c051788373.jpg"></figure>As mentioned earlier, the event was a massive success for us, and therefore we’ve agreed to host more web3 events in the future.Where and how, do you ask?<figure class="image"><img src="/uploads/RENE_LUTTERUS_5131_min_46b035bae1.jpg"></figure><h2 style="text-align:justify;">Future NFT events</h2>We are starting with a side event at NFT.NYC, and potentially some additional side events and roundtables for other tech events.Already discussions and planning are taking place in earnest for our next one - a two-day super-event featuring 2,000+ people and hundreds of speakers.The details for the event will be shared publicly soon, but if there is anyone that wants to get involved early, join our <a href="http://discord.gg/worldoffreight">Discord community</a> and hit us up via the NFT Tallinn channel.Resources you'll love:<ul><li><a href="https://supplain.io/news/nft-events-conferences">Top blockchain, crypto and NFT events to flock to in 2022</a></li><li><a href="https://supplain.io/news/nft-terms-nft-vocabulary">NFT terms you need to know [Test your NFT vocabulary]</a></li><li><a href="https://supplain.io/news/top-nfts-with-utility">Here are the top NFTs with Utility [Updated List]</a></li></ul><figure class="image"><img src="/uploads/RENE_LUTTERUS_5926_min_df64d30eef.jpg"></figure>

The first edition of NFT Tallinn was a huge success!
What was initially a small community gathering, a party in a mansion at best, resulted in over 500 people joining us in person for the first web3 conference held in Tallinn, Estonia.

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NFT Tallinn set a new standard for NFT conferences

For all those new to the NFT space, read our guide to blockchains, DAOs, metaverse, crypto & tokenisation.

What are DAOs, blockchains & tokenisation?

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NFTs continue to trend, and from these NFT statistics, you can read why. Some of the numbers will blow your mind!

Top NFT statistics that will blow your mind - Infographic

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Top NFT statistics that will blow your mind

<div class="raw-html-embed"><iframe width="780" height="480" src="https://www.youtube.com/embed/70pTSqJ4JBw?controls=1&amp;rel=1&amp;autoplay=1&amp;vq=hd720p60" title="YouTube video player" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen=""></iframe></div>The most NFT-minded business day – NFT Tallinn, will be a one-of-a-kind spring event on 6th April 2022 at Kultuurikatel. On this day only, Tallinn will be buzzing with over 500+ attendees and world-class experts, speakers, international founders, investors, public servants, and most importantly – Apes and bananas.&nbsp;<h2>What is NFT Tallinn?</h2><figure class="image image-style-align-right image_resized" style="width:36.24%;"><img src="/uploads/nft_tallinn_740x740_bc1b5e88d6.png"></figure>The shift from <a href="https://supplain.io/news/web3-solve-web2-problems">web 2.0 to web 3.0</a> is becoming more evident, with NFTs allowing creators to unleash their creativity and develop disruptive business ideas. Tallinn NFT Day will focus on critical topics including Web3.0, DAOs, institutional investing and policy.&nbsp;Plus, we’ll have the most prominent players in metaverse, gaming, security, luxury, art and sports to discover the true potential of NFTs and how they will reimagine tomorrow's business models.NFT Tallinn is more than a conference; it showcases the future waiting to happen. The event will feature talks and panels on:<ul><li>Digital Art &amp; Collectables</li><li>P2E Gaming &amp; Metaverse</li><li>Artists &amp; Social Tokens</li><li>Green Tech Solutions</li><li>Other NFT use cases</li><li>Future of web3 tech</li><li>Regulation &amp; web3</li><li>Investing in web3</li><li><a href="https://supplain.io/news/guide-blockchain-daos-metaverse-crypto-tokenisation">What are DAOs?</a></li><li>Other NFT use cases</li></ul>For those looking to explore the NFT scene, there will be workshops on&nbsp;<ul><li>How to buy your first NFT?</li><li>How to create your first NFT?</li><li>What do web3 investors look for?</li><li>What do you need to know about taxes?</li></ul>The NFT Tallinn event will take place in Kultuurikatel (situated inside an old Tallinn power plant, a unique venue in the city's old town and only 15 minutes from the airport) in Tallinn on Wednesday, 6th April 2022.NFT Tallinn is all about connecting the leading minds in the NFT field with novice crypto enthusiasts, plus putting NFTs themselves under the spotlight.&nbsp;The crème de la crème of speakers and international artists include: &nbsp;<ul><li><a href="https://www.linkedin.com/in/fulldecent/" target="_blank" rel="noopener noreferrer">William Entriken</a>, Lead Architech of ERC-721</li><li><a href="https://www.linkedin.com/in/david-princay/" target="_blank" rel="noopener noreferrer">David Prinçay</a>, Head of Marketing in Europe at Binance</li><li><a href="https://www.linkedin.com/in/andres-sutt-4b5a086/" target="_blank" rel="noopener noreferrer">Andres Sutt</a>, Minister of Entrepreneurship and IT of Estonia</li><li><a href="https://www.linkedin.com/in/irina-karagyaur/" target="_blank" rel="noopener noreferrer">Irina Karagyaur</a>, Head Ambassador for Western Europe for Polkadot</li><li><a href="https://www.linkedin.com/in/stentamkivi/" target="_blank" rel="noopener noreferrer">Sten Tamkivi</a>, Partner at Taavet+Sten</li><li><a href="https://www.linkedin.com/in/luukas-ilves-9a3a441/" target="_blank" rel="noopener noreferrer">Luukas Ilves</a>, CIO of Estonia</li><li><a href="https://www.linkedin.com/in/shirly-valge/" target="_blank" rel="noopener noreferrer">Shirly Valge</a>, COO of Velas &nbsp;</li></ul><h2>The story behind NFT Tallinn</h2>The need for such a conference arose during work discussions in the Supplain and <a href="https://worldoffreight.xyz/">World of Freight</a>. In the beginning, the idea was to organise only one NFT public meeting. Still, after hearing from our <a href="https://discord.com/invite/XqhceDK4ZR">community</a> about whether we should make the concept bigger, over 500 people expressed their wish to participate in a conference.&nbsp;From that moment, NFT Tallinn was born.From there, interest grew - within Estonia itself, it became evident that many Estonians and international residents were already working on Web3 and NFT projects - and this conference appealed to them.At the same time, there are even more who want to get into the NFT space and discover the NFT world for themselves. Thus, NFT Tallinn has been structured so that everyone can find interesting speakers and topics - both novices and professionals. NFT Tallinn does not occur in the traditional conference format but simultaneously in different rooms and with varying themes.The conference will discuss various <a href="https://supplain.io/news/nft-use-cases-digital-art">NFT use cases</a>, including <a href="https://supplain.io/news/what-are-nft-investments">digital art</a>, collectables, social tokens, green revolution blockchain applications, <a href="https://supplain.io/news/andre-veskimeister-web3-2022">the future of Web3</a>, DAOs, <a href="https://supplain.io/news/crypto-queens-women-nft-space">women in the NFT world</a>, Web3 investing, and more. As mentioned, there are separate workshops for beginners on topics that should guide people to the world of NFT and Web3 and provide them with their first basic knowledge. Finally, an after-party with music is planned for the evening to find and network with new acquaintances in the NFT community.<h2>The current state of NFTs</h2>It is critical to be aware of the current state of the NFT market. The NFT space moves fast and has a lot to offer. Pioneers will be diving into Metaverses and exploring the endless possibilities that come with it, unleashing their creativity and developing disruptive business ideas.So, let's talk about NFT tech. Let's talk about the web3 future. Let's talk about DAO concepts. Let's have fun!<a href="https://events.ekspressmeedia.ee/nft">Get your tickets here.</a> &nbsp;

The most NFT-minded business day – NFT Tallinn will be a one-of-a-kind spring event on 6th April 2022, at Kultuurikatel.

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NFT Tallinn Day

Don't sit at home. NFT Tallinn will be the most long-awaited NFT event of 2022

<figure class="image"><img src="/uploads/blog_4_2_1a825fe105.png"></figure>With digital art NFTs attracting large sums for their value, cybercriminals and hackers are also attracted to defrauding their owners. How do NFT owners know if a Bored Ape NFT or digital Banksy is real?The <a href="https://supplain.io/news/what-are-nft-investments">non-fungible token</a> (NFT) market was worth <a href="https://www.statista.com/statistics/1235263/nft-art-monthly-sales-value/">$87 billion in February 2022</a>. Much of the growth is fueled by mainstream apps and celebrities like Discord, Mastercard, Coinbase, Twitter, Nike, Adidas, <a href="https://twitter.com/ParisHilton">Paris Hilton</a> and Eminem entering the space, offering creators, artists and collectors more possibilities to showcase and trade digital art.&nbsp;But as the NFT space grows, security issues become increasingly problematic with NFT fraud.&nbsp;An NFT will include information on where the holder can find the artwork they represent on-chain like Bored Apes is. Usually, all fraud is just people being reckless and acting too fast or not doing their research.Typically, frauds occur when someone ‘steals’ the real NFT from buyers, and there is little they can do about it since they confirmed the deal either by:<ol><li>Connecting their wallet to a fishy website that asks for the right to move specific NFTs out from the wallet in a way that goes unnoticed by the wallet holder.</li><li>Leaving their wallet connected to a proper website that was hacked and whose contract is changed so that the hackers can move out NFTs.</li><li>"Accidentally" shows private keys to a "moderator" or some other fraudster who then does the transfer themselves.</li><li>OR just get phished or hacked.</li></ol>If NFT fraud is occurring, why buy NFTs in the first place? &nbsp;<h2>Why are people buying digital art NFTs?</h2>With NFTs, assets can be 'tokenised' to create a digital certificate of ownership, which can then be bought and sold. The practice is proving popular in computer gaming to digital art fields.&nbsp;In general, very little data is stored within an NFT, however. The NFT mostly contains only the information on where the holder can find a description of the artist's name and the work's title. NFT info is then recorded on the blockchain itself.&nbsp;The more unique the digital art NFTs are, the higher value they attract, as they are rare. NFT scarcity means they are treasured, thus command large sums when sold.&nbsp;NFTs that attract large sums stir the interest of investors.&nbsp;<ul><li>In sport, NFTs for licensed NBA basketball game clips have amassed more than €220,000 to date.&nbsp;</li><li>When Twitter founder Jack Dorsey auctioned the NFT for his first-ever tweet – "just setting up my twttr" – a Malaysia-based businessman paid €2.5 million for it.&nbsp;</li><li>Digital artist Pak (sold 266,445 shares of an NFT art Mass Banner for $91.8 million.</li></ul>&nbsp;Therefore, it will be no surprise when criminals attempt to defraud the industry to make money; buyers have fallen victim to fraud.<h2>Recent NFT frauds</h2><figure class="image"><img src="/uploads/blog_4_3_08a6f13ad9.png"></figure>Prominent NFT frauds that have occurred include the recent <a href="https://www.bbc.com/news/technology-58437753#:~:text=On%20Tuesday%20a%20piece%20of,be%20hacked%2C%20but%20was%20ignored.">Banksy scam</a>, in which fake Banksy NFTs were listed on <a href="https://opensea.io/">OpenSea</a> and sold for US$350,000. Then there was the '<a href="https://www.vice.com/en/article/y3dyem/investors-spent-millions-on-evolved-apes-nfts-then-they-got-scammed">Evolved Apes' NFT scam</a>, also on OpenSea, that led to <a href="https://www.vice.com/en/article/y3dyem/investors-spent-millions-on-evolved-apes-nfts-then-they-got-scammed">US$2.7 million</a> being stolen by the anonymous 'Evil Ape' developer behind the hack.&nbsp;Whilst more significant hacks garner the most media coverage, there is also no shortage of smaller scams that are largely unreported. Malicious actors have found the NFT space lucrative. They have been exploiting technological gaps in the system whilst showing no signs of slowing down.Not all frauds are this sophisticated.&nbsp;Most basic NFT frauds occur because of the <a href="https://supplain.io/news/nft-terms-nft-vocabulary">'rug pull,'</a> whereby innovative crypto developers announce the release of an incredible new digital asset that will do amazing things in the future, thus increasing its value.The community responds with enthusiasm and invests the owners with funds. Still, the project is then pumped and dumped as the issuers vanish, delete their website, Telegram and Discord chats and phoney LinkedIn profiles along the way.&nbsp;Whilst not all projects that fail early are ‘rug pulls’ - some are merely early-stage projects where the founders didn't know how to run a business, thus overspending and running out of funds before delivering the project. It is similar to startups that don't find the appropriate business model before shutting down.What do these NFT scams mean for the blockchain ecosystem? First, they give NFTs a lousy reputation and are unfairly labelled ‘fraud.’ <a href="https://supplain.io/news/andre-veskimeister-web3-2022">Web 3.0 technology</a> already provides a secure environment for their NFT creators to list and store their digital assets if the industry becomes mainstream.&nbsp;Instead, the question is on the buyers' side - how to not fall for fraud, which usually comes from buyers not doing their research and jumping on new projects too fast.This is where web 3.0 companies can help in stopping NFT fraud.<h2>How web 3.0 companies combatting NFT fraud</h2>The current issues with hacks and <a href="https://supplain.io/news/nft-scams-victims">NFT scams</a> in the space mean that individuals could lose or have their NFT stolen, much the same if they lost their identity.Web 3.0 solutions reduce the likelihood of NFT fraud as everything is recorded on the blockchain. NFTs include information on where the holder can find the artwork they represent. However, the actual digital artwork is still a click to a URL away.&nbsp;As mentioned already, all fraud is usually people being reckless and acting too fast or not doing their research. Thus, the adoption of NFTs will suffer as they are incorrectly labelled as a scam or bubble.However, suppose you're talking about authenticity. In that case, the problem does not affect any NFT collections per see, but rather the art uploaded without the Intellectual Property (IP). Or, they are fraudulent collections and web pages that attempt to impersonate the original creators' collections that NFT novices then buy (known as ‘mint’).<ol><li>Authenticating the ownership pre-NFT creation is complicated and not controllable via NFT creation since NFT is just a technology where you store the file. Thus when buying expensive 1/1 art, the only way to authenticate whether it's real or not is doable either by:<ol><li>Establishing that the creator of the wallet is the accurate person or organisation who controls the rights - either by checking their "verified" status, their documents or jumping on a call with them (when spending over 100k, getting on a call for a second should not be too much to ask!)</li><li>Trusting the herd, if there have been multiple previous sales by the same account that have not had any problems, ideally some time ago and even better - to people you know.</li></ol></li><li>Checking whether it's fraudulent collection or webpage is simpler since you can always check the contract code, check whether it's the same contract like the one on the website/collection/Discord and check if other parameters are correct + ideally wait until others have tested it by themselves—no need to be the first one to take the risk.</li></ol><h2>Educating buyers about NFT fraud</h2><figure class="image"><img src="/uploads/blog_4_1_93fec01892.png"></figure>Because NFTs will revolutionise how we live and interact within and outside the crypto environment. Their <a href="https://supplain.io/news/nft-use-cases-digital-art">limitless uses outside the digital art</a> and collectables world will be invaluable to modern businesses, from gaming to <a href="https://supplain.io/news/supply-chain-trends-and-predictions">the supply chain</a>.&nbsp;Letting buyers know what types of fraud to look out for on these platforms can help reduce NFT scams, especially if these users can use platform technologies to flag opportunities for fraud.&nbsp;Different platforms also have varying verification systems, so offering resources to help users navigate these choices and select the safest option may be another step in the right direction.Whilst scams and hacks are vital issues to discuss and resolve; the <a href="https://supplain.io/news/crypto-queens-women-nft-space">NFT space</a> has ultimately flourished.&nbsp;It has become a space where NFT creators have more control over their digital assets and make serious money.&nbsp;NFTs are here to stay and will have significant implications on how we interact online, enjoy our hobbies, and even provide businesses with more transparent data records.&nbsp;These future use cases will not be possible without increased security and verification measures and educating mainstream audiences of the viability of web 3.0 technology.&nbsp;Resources you'll love:<ul><li><a href="https://supplain.io/news/nft-scams-victims">NFT scams - how not to be a victim</a></li><li><a href="https://supplain.io/news/web3-solve-web2-problems">Can web 3.0 solve the problems of web 2.0?</a></li><li><a href="https://supplain.io/news/nft-terms-nft-vocabulary">NFT terms you need to know [Test your NFT vocabulary]</a></li></ul>

With NFTs attracting large sums for their value, cybercriminals and hackers are also drawn. How can Web 3.0 companies help stop NFT fraud?

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Evolved Ape NFT Fraud

Can Web 3.0 companies help stop NFT fraud?

With crypto-based and NFT scams rising, it's easier to fall for them than ever. Read our guide on how not to be a victim.

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NFT scams - how not to be a victim

&nbsp;Our very own Keirin Rebane is one of a growing number of female artists, entrepreneurs, coders, business leaders and investors embracing NFTs and cryptocurrency. Together they advocate for women to enter the blockchain movement and NFT space, thus bridging the gender gap in this quickly expanding sector.NFTs give those who find traditional forms of investing puzzling and intimidating a path to financial independence or an opportunity to collaborate.&nbsp;"There are very few women in this space. And it is often thought that women can only work in soft areas. Still, there are several examples where women can also lead technology projects very well. Women shouldn't be afraid of leadership and expressing their views. For the field not to become too male-centred and unbalanced, women need to stick together more and be particularly loud about their opinions; as different views enrich the field." – Keirin Rebane, Co-founder, Supplain.<figure class="image"><img src="/uploads/blog_pic_22_585276f239.jpg"><figcaption>Keirin Rebane, Supplain Co-Founder</figcaption></figure><h2>Why NFTs are important</h2>An NFT is an asset that constitutes an entity or object. It could be a form of digital art, book, cryptocurrency token, a tweet, music, a video game or anything that can be created (minted) in a digital format.&nbsp;NFTs are linked to the blockchain where other cryptocurrencies, including Ethereum and Bitcoin, are found. Since these blockchains are decentralised and secure, NFTs become highly unique. They cannot be counterfeited or fraudulently faked.&nbsp;The value of the NFT is recorded on the blockchain that offers public access, thus proving its genuine authenticity.So, what makes NFT the next big opportunity, and not only for women?&nbsp;NFTs and crypto represent an exclusive and fresh source of creativity and innovation. From personalised art creation to unique collectables, exclusive music or even avatars, creators and developers can push and defy boundaries to produce unique outcomes.As institutional investors became involved and pushed bitcoin (and subsequent altcoin prices) to record highs in 2021, the adoption of cryptocurrencies grew amongst younger investors and developing countries. Now, anyone with a mobile phone using a wallet can bypass the formal banking system.<h2>NFTs have reached an enormous market value</h2>Meanwhile, sales of NFTs amassed to <a href="https://dappradar.com/blog/2021-dapp-industry-report">$23 billion in trades in 2021</a>, increasing from the previous year, according to research from DappRadar.&nbsp;However, still more than <a href="https://www.cnbc.com/2021/08/30/cryptocurrency-has-a-big-gender-problem.html">two-thirds of U.S. cryptocurrency investors are men. About 60% of them are white</a>, according to recent research by CNBC and Acorn. This gender gap is wider than in other financial investment sectors like stocks, bonds and mutual funds.As cryptocurrencies shift from the fringes of finance to the mainstream, with investors, companies, and <a href="https://www.bbc.co.uk/news/technology-58473260">countries adopting them as an asset</a>, more of us now accept them as a hedge against inflation and economic uncertainty.NFTs have also <a href="https://nftevening.com/celebrities-in-nfts-paris-hiltons-nft-love-is-catching-on/">caught the attention of celebrities, investors and artists</a>. Their enthusiasm has led to record digital art sales from <a href="https://supplain.io/news/what-are-nft-investments">Beeple's digital collage selling for $69 million</a> to <a href="https://www.barrons.com/articles/paks-nft-artwork-the-merge-sells-for-91-8-million-01638918205">Pak's 'The Merge' selling for $91.8 million</a> in December 2021, making it the most expensive NFT sale at the time of writing this article.&nbsp;<h2>More women in the NFT artist space</h2><figure class="image"><img src="/uploads/blog_pic_20_6565a616d5.jpg"></figure>Research by ArtTactic found that <a href="https://www.theartnewspaper.com/2021/11/03/not-so-metadiverse-women-account-for-just-16percent-of-nft-art-market">only 16% of NFTs</a> on the market are created by women artists, exposing the underrepresentation of women in the NFT art space.&nbsp;It led many to launch initiatives to inspire more female artists to venture into the NFT space, with NFT communities like the <a href="https://worldofwomen.art/">World of Women</a> emerging to aid females to enter this male-dominated market.&nbsp;Subsequently, this worked. Last month, some outstanding female-led projects sold out, including the <a href="https://www.nftculture.com/nft-projects/women-rise-nft-project-sells-out/">Women Rise project</a>.&nbsp;Other female-only projects include <a href="https://www.girlsridingthings.io/">Girls Riding Things</a>, <a href="https://www.fameladysquad.com/">Fame Lady Squad</a> and <a href="https://www.rebelsociety.io/">Rebel Society</a>. Their creators found that they eventually sold out even after a post mint lull. The spotlight on women NFT artists helped raise awareness of their involvement. Although women still make up less than 20% of the NFT space, these little shifts made a huge difference.&nbsp;&nbsp;<h2>Women in the blockchain industry</h2><figure class="image"><img src="/uploads/blog_pic_21_4a03375886.jpg"></figure>Since the blockchain industrys' inception, <a href="https://blumint.co/blockchain-technology-empowers-women-worldwide/" target="_blank" rel="noopener noreferrer">women in blockchain</a> have played critical roles in strengthening the global influence of the technology.&nbsp;Like most of the tech sector, women have been slowly gaining dominance. Yet, they still only hold around <a href="https://isemag.com/2020/10/telecom-the-latest-stats-on-women-in-tech/">25% of jobs in technology</a>. Interestingly, approximately <a href="https://news.crunchbase.com/news/eoy-2019-diversity-report-20-percent-of-newly-funded-startups-in-2019-have-a-female-founder/">20% of startups in tech have female founders</a>. At the same time, the number of <a href="https://blumint.co/blockchain-technology-empowers-women-worldwide/" target="_blank" rel="noopener noreferrer">women in blockchain technology</a> is considerably low.&nbsp;Presently, only <a href="https://www.analyticsinsight.net/women-in-blockchain-crypto-market-is-no-longer-a-men-only-business/#:~:text=As%20the%20data%20suggests%2C%20the,in%20the%20past%20two%20years.">12% of women are involved in the crypto sector</a> with contributions in the roles of founders, developers and investors, meaning the remainder are primarily male. Such numbers clearly state the necessity of changing the blockchain industry's inclusion of women.&nbsp;According to Rebane, co-founder of blockchain protocol Supplain, the world needs more women in blockchain for the following reasons:<ul><li>they can offer better communication skills</li><li>can create and define products that cater to women as well as men</li><li>can provide a balance in the blockchain ecosystem</li><li>are great at community-building</li><li>fill a void in top tech talent that is missing in national economies</li></ul><h2>The call for gender diversity</h2>Keirin Rebane has a passion and dream – to be seen and recognised in areas like blockchain technology, cryptocurrency and NFTs and to reimagine how to solve an age-old <a href="https://supplain.io/news/supply-chain-trends-and-predictions">problem of supply chain issues.</a>Rebane's and her co-founders' mission with Supplain is to bring more women into the web3 market and support them on their blockchain journey. It's why she took the chance to delve into the NFT space and collaborate with WoF Labs and Supplain.&nbsp;Based on her experience with <a href="https://supplain.io/news/story-behind-wof">WoF</a> Labs and Supplain, she has found that no matter your role in, whether an artist or blockchain developer, anyone can create an entity of their own into an NFT – even without prior knowledge.&nbsp;Rebane had no previous crypto experience before entering this field, only becoming involved with NFTs in August 2021. Today, she and her team have successfully launched their own NFT collection, Play2Earn NFT game, and they are now building a whole new blockchain protocol. All in only 6 months.&nbsp;"With the abilities and talents that women are proud to showcase, there is no doubt that diversity in the NFT space can be achieved. The realm is vast and ever-growing, and it's a promising industry where anyone can flourish," says Rebane.&nbsp;Women entrepreneurs and crypto enthusiasts are no exception; they, too, can reap significant rewards if they enter this rapidly expanding sector.<h2>About Keirin Rebane</h2>Keirin Rebane has a master's degree in business and technology management and is the founder of an Estonian-based development company. She has helped to build various e-shops, online platforms, and applications in her career. During that time, she has been in different roles: a manager, product owner and designer. Having a previous technological background helped her orient herself in the NFT world, primarily when they were creating their own collection where all the NFT parts were hand-drawn in digital form and later generated in collaboration with code. Today, she is the product owner and art director in the <a href="https://worldoffreight.xyz/">World of Freight</a> and <a href="https://supplain.io/discover">Supplain teams</a>.Resources you'll love:<ul><li><a href="https://supplain.io/news/women-investing-nfts">Why do so few women invest?</a></li><li><a href="https://supplain.io/news/story-behind-wof">The Story Behind World of Freight</a></li><li><a href="https://supplain.io/news/blockchain-applications-use-cases">19 Blockchain application use cases that will surprise you</a></li></ul>

Supplain’s Keirin Rebane and a growing number of women are entering the crypto and NFT space, bridging the gender gap in the process.

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Crypto queens in the NFT space

Andrew Veskimeister, Head of Business at Supplain discusses where is Web 3.0 heading in 2022.Here are thoughts on blockchain, crypto and web 3.0 and their business uses.<figure class="image"><img src="/uploads/blog_pic_18_1_cfea014d57.jpg"></figure><h2 style="margin-left:0cm;">In short, sum up 2021?</h2>2021 was a year of many surprises. The cryptocurrency market showed very high volatility, contrary to established predictions.Whilst the built-in cyclicality of the Bitcoin algorithm predicted the top of the market last year, it did not arrive, unlike in the stock market. The prevailing view is that the crypto cycle has lengthened, diminishing returns.&nbsp;However, 2022 should bring more clarity on its cycles.<h2 style="margin-left:0cm;">2022 has had a harsh start and will be very volatile&nbsp;</h2>The most decisive events in 2022 will probably not be with the crypto but with the world economy as a whole.&nbsp;Is the economy moving forward in the inflation cycle, or will it become deflationary due to central bank activities? The world economy will influence the crypto value proposition in 2022.Slower growth is likely ahead of us.&nbsp;Markets are looking for a new equilibrium point, and it is impossible to predict anything definite. If inflation increases, Bitcoin's position as a value holder will improve. In deflation, crypto must find its growth in innovation and the rising number of users.The most crucial moment for the crypto market is the outcome of the XRP lawsuit, which should happen in 2022. On the one hand, this is crucial for XRP itself but certainly a shaper of the whole sentiment towards crypto.2022 is also likely to be a year of clarity for the Metaverse and <a href="https://supplain.io/news/top-nfts-with-utility">NFT projects</a>, where the real potential of these critical projects emerge. It is undeniable that these sectors will experience further growth.&nbsp;<h2 style="margin-left:0cm;">What happens to Ethereum with ETH 2.0?</h2>I do not see any significant structural changes involved.&nbsp;Ethereum is the crypto with the most important number of applications, and this position is likely to be strengthened.At the same time, Ethereum will be greener as miners' computing power ('proof of work' principle) is no longer used to validate transactions. It will now be replaced by a new validation mechanism based on validators backed by stacked Ethereum ('proof of stake' principle). It aims to increase Ethereum's network speed, efficiency and scalability, making it more sustainable.As demand for Ethereum remains high or even grows, transaction (gas) fees will not fall to zero. However, they will probably decrease. Additionally, we can see them stabilising and the predictability of gas fees increasing.<h2 style="margin-left:0cm;">Recommendations for a novice crypto investor</h2><figure class="image"><img src="/uploads/blog_pic_19_629f2fb7dc.jpg"></figure>The first recommendation for novice investors is to organise their investments through a corporate entity. Unfortunately, the Estonian tax system has yet to improve when investing as a private person.<a href="https://www.lhv.ee/en/crypto">LHV Bank</a> made a giant step favouring Estonian crypto investors last year. I highly recommend using them for smaller investment amounts and in situations where there is no time to delve.To go further, however, one needs to do more work and learn the mechanisms of crypto. More important than choosing a platform is knowing crypto management methods, such as "cold storage.”My biggest recommendation before investing in crypto is to spend at least 20 hours educating yourself – this would be the best investment you can make.<h2 style="margin-left:0cm;">Could crypto be a passive investment?</h2>The primary task before starting is to set the investment horizon.&nbsp;If it is 10+ years, any investment of smaller amounts regularly is a good idea. Doing this will be the surest way to achieve compound interest rate leverage and minimise the risks of delaying investments.It is necessary to decide the asset class to invest in (property, shares, or crypto). If the answer is crypto, then investing in the top three cryptocurrencies is a relatively risk-free strategy. Alternative cryptos can also be considered depending on the investors' age and the courage to take risks, but this requires more attention and decision-making.However, no one should be afraid to invest in crypto in a longer time frame as it is a technology that has come to stay. The blockchain is not a fashion trend but an innovative and elegant technology that corrects many of the shortcomings of the open Internet and centralised data processing.<h2 style="margin-left:0cm;">What else could we see happen in the cryptocurrency world?</h2>Social tokens and the DAO are one exciting development to follow in 2022.Social tokens are a solution that allows different brands and products to use technology to share revenue with their dedicated fans and co-workers. We live in an economy of attention, and communicating the message and rewarding contributions is a significant challenge for businesses in the future.On the other hand, DAO (Decentralised Autonomous Organisation) is an alternative to corporate governance practices where the founders decide on the day-to-day running of the organisation. Under current best practices, it is delegated to company executive boards. I see new meaning given to the term 'public company' in the coming years.At present, it is used to characterise public companies due to the transparency of their information sharing. Companies guided by the founders’ ongoing decisions will become public in the future. It makes the whole business much more diverse and dynamic and offers many people the opportunity to have a say in all aspects of its development.<h2 style="margin-left:0cm;">How does this all connect to the real world?</h2>Crypto development has brought both venture capital and talented people to this innovative technology.I am confident that in 2022, many new projects will emerge that will solve the real problems of the real world – from supply chain solutions to ensure the authenticity of organic products.&nbsp;It will be an exciting year, and it will not come as a surprise if many such projects take off from Estonia.Resources you'll love:<ul><li><a href="https://supplain.io/news/web3-solve-web2-problems">Can web 3.0 solve the problems of web 2.0?</a></li><li><a href="https://supplain.io/news/what-is-the-metaverse">What is the metaverse? (and why you should care)</a></li><li><a href="https://supplain.io/news/bitcoin-new-gold">Is Bitcoin the new gold?</a></li></ul>

Andrew Veskimeister, head of business at Supplain discusses where is Web 3.0 heading in 2022.

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Where is Web 3.0 heading in 2022?

With so many NFT terms, it is almost impossible to know them all. So we have put together all our NFT vocabulary so you can become an NFT guru.

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NFT terms you need to know [Test your NFT vocabulary]

<figure class="image"><img src="/uploads/blog_pic_11_1_88ecb39510.png"></figure>Post summary:<ul><li>Why do so few women invest?</li><li>Why do women need to invest more?</li><li>How are women being supported with investing?</li></ul>Surprisingly (or unsurprisingly, depending on your view), very few women invest.<a href="https://www.fool.com/research/women-in-investing-research/#:~:text=By%20comparison%2C%20men%20keep%2059,money%20in%20the%20stock%20market.">Only 21% of women invest, compared to 41% of men</a> who place their savings into investment portfolios.&nbsp;What is more puzzling is that women hold <a href="https://www.bcg.com/publications/2020/managing-next-decade-women-wealth">32% of the world's wealth.</a>Why then are women such reluctant investors compared to their male counterparts?&nbsp;The truth is that women are missing out on investment returns they could earn from their money. They are losing out on alternative income streams and financial freedom by not investing.&nbsp;Crypto and NFT investing have often been lauded as simple and straightforward for all investor types. Yet, still, this is an area that is lagging in attracting female investors.&nbsp;<h2>Why do so few women invest?</h2><h3>Different end goals</h3>When building wealth, most women aspire to develop financial security for their families and set aside wealth for retirement.&nbsp;For men, this is different, who tend to prioritise accumulating more personal wealth.&nbsp;Even within the workplace, men are <a href="https://news.harvard.edu/gazette/story/2020/02/men-better-than-women-at-self-promotion-on-job-leading-to-inequities/">more ambitious in promoting themselves</a> for jobs than their female counterparts.&nbsp;The same attitude appears to prevail when concerning investing. Men seek to push themselves to obtain more financial wealth, whilst women have a lower investing rate.<h3>Aversion to risk</h3>In the UK, <a href="https://www.unbiased.co.uk/news/financial-adviser/women-and-investing#:~:text=According%20to%20UK%20investment%20statistics,of%20those%20opened%20by%20men.">only 7% of women invest in accounts</a> not related to the stock market.When women invest, they tend to take a more conservative attitude towards investments than their male counterparts, possibly due to lower confidence in accepting risk.Research from the <a href="http://arno.uvt.nl/show.cgi?fid=81419#:~:text=It%20is%20found%20that%20women,in%20financial%20markets%20than%20man.">University Van Tilberg</a> in the Netherlands backs up this attitude, stating that females are not keen on taking significant risks.However, you could argue that this does not necessarily mean that women are risk-averse or lack confidence.Instead, you could say that women tend to categorise how they view their finances.&nbsp;For instance, women will often ring-fence areas of their money to not be spent. For example, the savings they hoard for their children's school or university tuition – whilst some men (not all) take a more aggressive risk approach.However, it does appear that a more conservative attitude seems to pay off since women tend to statistically <a href="https://www.ft.com/content/f3835072-66a6-11e9-9adc-98bf1d35a056">outperform men in investment returns.</a>&nbsp;<h3>Male-orientated industry</h3>Perhaps a key barrier for women wishing to invest is the nature of investment institutions themselves.&nbsp;Financial services, like several other industries, sadly <a href="https://www.insider.com/male-jobs-women-underrepresented-numbers-2019-8#only-399-of-financial-analysts-are-female-4">still tend to be male-orientated</a> and do not cater to female audiences.Less female financial advisors can discourage women from feeling confident and trusting in investment products.&nbsp;<h3>The gender pay gap</h3>Sadly, despite women making up <a href="https://www.fool.com/the-ascent/research/gender-pay-gap-statistics/">47% of the labour force by 2024, they still only earn $0.80 for every $1 a man makes.</a>Meaning women are likely to have less disposable income than men because they earn significantly less.With lower income, women cannot put more of their earnings aside. A significant proportion of their income will be required for household expenses from paying rent or mortgage shopping and bills.With less remaining, women cannot invest as much, lowering their savings potential growth returns.<h2>Why women need to invest more</h2><h3>Women live longer</h3>It's no secret that, on average, women live <a href="https://www.worlddata.info/life-expectancy.php#:~:text=Life%20expectancy%20for%20men%20and%20women&amp;text=On%20average%2C%20US%20women%20are,and%2074.9%20years%20for%20women.">4-5 years longer than men.&nbsp;</a>Women have to build up more wealth to sustain themselves over this four-year gap. However, with their salaries, on average 20% lower than mens, it makes it even harder to have enough in retirement to live longer.Furthermore, putting away more during their working lifetime means women live on less during their employment years.&nbsp;This is why women must ensure that what savings they do have, grow exponentially.Stock market and alternative investing provide long-term growth, with the latter providing better returns in a shorter period, helping to cover the 4-5 year gap required in retirement.<h3>State retirement benefits are inadequate</h3>Countries' basic state pensions offer inadequate state retirement incomes.&nbsp;Whilst in retirement, most people will have lower expenses. To live only off state benefits will be challenging to live a comfortable life.&nbsp;Investing can build up a solid base income in retirement for women to complement their state and private pensions. It could also provide an opportunity for women to retire earlier than the state retirement age.<h3>Low returns on savings accounts</h3><figure class="image"><img src="/uploads/blog_pic_12_1_d39b35643e.png"></figure>Inflation typically sits at a <a href="https://www.federalreserve.gov/faqs/5D58E72F066A4DBDA80BBA659C55F774.htm">minimum of 2% per year.&nbsp;</a>Yet, savings rates across many global countries do not offer returns even to match that.How can women (or even men) keep pace with the cost of living from any savings they make, let alone afford to save for retirement?&nbsp;From stocks and shares to crypto, investing offers women (and men) an opportunity to earn higher returns on their savings than letting their cash sit deposited in a bank deposit account.&nbsp;Earning above the inflation rate will make a difference when you need to cash it out.<h2> How can businesses support women with their investing?</h2><h3>Make it easy to manage</h3>Financial investments, for whatever reason, always seem to use language and products that are complex to understand and time-consuming to implement.&nbsp;Both women and men are juggling careers, family and relationships, let alone understanding investment strategies.It's why we pay brokers to invest in funds on our behalf. In return, they (hopefully) obtain significant growth gains on our investments.Crypto investing was one such investment vehicle that removed the need for using investment managers. Thus, the savings made on not paying fees paid to an investment manager are given to crypto investors.However, this still needed women investors to select which cryptocurrencies to invest in.&nbsp;Another more enjoyable and fun option is <a href="https://supplain.io/news/what-are-nft-investments">NFT investing</a>. NFT investing offers women the opportunity to buy NFTs and hold, much like collectables, and then sell later on, knowing that the NFT they have cannot be fraudulently duplicated or stolen.&nbsp;With a global market for metaverse-related projects expected to be in the <a href="https://www.bloomberg.com/professional/blog/metaverse-may-be-800-billion-market-next-tech-platform/">$800 billion range</a>, it is easy to see why women are heading into the NFT space.<h3>Make investment ideas for women only&nbsp;</h3><figure class="image"><img src="/uploads/blog_pic_13_1_02a1eeace4.png"><figcaption>https://worldofwomen.art/wow.html</figcaption></figure>&nbsp;You will quickly realise that in the NFT space how male-dominated it is. Because it's a new technology with close ties to the cryptocurrency field, it seems to be attracting more men than women.We see this reflected in digital art as well. Particularly in the <a href="https://www.cnet.com/news/nfts-explained-why-people-spends-millions-of-dollars-on-jpegs/">NFT avatar space</a>, you quickly get the impression that many male creators are creating male avatars for other men. Yet there are now more women creating female <a href="https://uwucrew.art/">avatars for women.&nbsp;</a><a href="https://worldofwomen.art/">World of Women</a> is just one of the most popular female-focused NFT collections. The beautiful artwork is created by the artist Yam. It is easily recognisable because of her signature hand-drawn, colourful style.World of Women has high-profile backers, including Gary Vaynerchuk and Reese Witherspoon, demonstrating the importance of this space for women investors.<h3>Debunk the myth that investing is only for men</h3><figure class="image"><img src="/uploads/blog_pic_15_1_fb5976698d.png"></figure>Women make up, on average, just under <a href="https://www.catalyst.org/research/women-in-financial-services/">half of those employed in the finance industry</a>.&nbsp;The gap is closing; Deloitte produced research stating that it should increase in the next decade, with female leaders growing to 30% of the industry.Although the gap still has far to go, the myth that finance is the realm of a patriarchal-dominated sector is finally eroding.With more women taking up leadership positions in financial institutions, removing this harmful myth will convince more women that investing is for them and not only men.&nbsp;<h2>Investing is for all</h2>Investing shouldn't be about becoming super-wealthy.Instead, it's about prioritising women's future and ensuring there's enough at the end of their lives.&nbsp;With all types of investing, women can still spread the risk, earn higher than average returns, and help even the financial gender gap.We can never have too many women in the NFT space or any other field for that matter. One way to support better female representation is by buying and sharing projects like the ones covered in this article.&nbsp;Even our very own <a href="https://supplain.io/news/crypto-queens-women-nft-space">co-founder Keirin</a> is proof that more women are now leading the NFT investing space with <a href="https://worldoffreight.xyz/">World of Freight NFTs.</a>Women are just as capable of handling both their own and their family's financial accounts and have demonstrated that they can outperform their male counterparts.&nbsp;Nevertheless, getting women to take the leap of faith and invest can be challenging if they have never done it before.&nbsp; &nbsp;Resources you'll love:<ul><li><a href="https://supplain.io/news/crypto-queens-women-nft-space">Crypto queens in the NFT space</a></li><li><a href="https://supplain.io/news/what-is-the-metaverse">What is the metaverse? (and why you should care)</a></li><li><a href="https://supplain.io/news/bitcoin-new-gold">Is Bitcoin the new gold?</a></li></ul>

Very few women invest, yet they statistically outperform men when they do. Why, then, are not more women investing?

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Why do so few women invest?

NFTs with utility is the future of the NFT space. Read our updated list of the top NFT utilities that carry real-world and quantifiable v

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Here are the top NFTs with Utility [Updated List]

Those into their non-fungible tokens and the NFT environment are probably aware of the misconceptions surrounding what NFTs can be used for.Headlines of purchased digital artwork selling for gargantuan amounts have led many to believe that non-fungible tokens are predominantly offered as artwork and can be 'right-clicked saved.'This is not the case; NFTs have many use cases other than digital artwork. We’ve written about 10 industries that are early adopters in using NFTs.<h2>NFT use cases</h2><h3>1. NFTs in supply chains and logistics</h3><figure class="image"><img src="/uploads/22_d3476a7108.png" alt="Logistics worker"></figure>The primary function of non-fungible tokens in the supply chain lies in authenticating products, ensuring their quality, and verifying their origin. Although in the early stages, non-fungible tokens on the blockchain <a href="https://ecommercenews.eu/800000-online-stores-europe/">are suitable for logistics applications</a> because of their transparency and immutability, which keeps supply chain data authentic, accurate, and reliable. Knowing the location of the goods, their origin, and how much time they have been in transit is vital in the food and other perishable goods industries.Furthermore, non-fungible tokens eliminate counterfeiting, help track and trace the movement of supply chain goods. For luxury fashion brands exposed to counterfeiting their products, NFTs guarantee authenticity.Within the automobile industry, non-fungible tokens provide information regarding each material and component in a particular product for every business associated, like those that supply individual parts, helping with c ost control. Lastly, non-fungible tokens are useful for enterprises looking to track the use of recyclable and sustainable materials.<h3>2. NFTs for ticketing/branding</h3>While non-fungible tokens have found an affinity in the art world, they are also being used in other places thanks to their ability to prove scarcity. Concert tickets rely on non-fungibility to prevent fraud, making them prime contenders for adopting non-fungible tokens.One example was the rock band Kings of Leon releasing non-fungible tokens to commemorate their latest album release. The most limited of the bands' three tokens were an NFT ticket to a concert as part of the album launch.Yellowheart is one such company that assists record labels in gaining tighter control over merchanting and tickets. NFT.Kred allows any event organiser to create a non-fungible token as a ticket in just a few clicks.<h3>3. NFTs to gain access</h3>NFTs can provide access similar to a ticket stub. NFTs are non-fungible and trackable via the blockchain, and thus the ideal solution for removing physical stubs and providing digital, trackable, and traceable options.Additionally, thanks to smart contract capabilities combined with NFTs, you can write in terms &amp; conditions, expiry dates, and other restrictions. So, this one NFT makes it simple for both parties to keep track of their tickets and the information stored on that individual ticket.Gary Vaynerchuck's NFT project, <a href="https://veefriends.com/faqs">VeeFriends</a>, is one perfect example of non-fungible tokens that provide access. All VeeFriends token holders obtain access to VeeCon — a multi-day event exclusively for VeeFriends, making them highly collectible.<h3>4. NFTs as collectibles</h3><figure class="image"><img src="/uploads/23_da88263605.png" alt="Wof NFTs"></figure>Owning a non-fungible token has several benefits, one being the collectibility aspect. Non-fungible tokens are often associated with collectors due to their ease of verification and authentication.Many collectors face one concern regarding physical collectibles: their ability to replicate or make original copies. Buying a fake collectible is upsetting, costly, and often associated with organised crime.That's why NFTs are invaluable.The time a non-fungible token is minted, it is tracked on the blockchain. The blockchain allows you to view an NFTs entire transaction history, including its date, who created it, and its current location, thus enabling collectors to quickly verify an asset's authenticity. Non-fungible tokens may also help collectors make better buying decisions since they can see the sales history of any non-fungible token.In addition to the ease of authenticating a non-fungible token, collectors can also trade their collectibles on one of the many available non-fungible token marketplaces, making non-fungible tokens a stress-free and frictionless way to verify and buy and collect an asset, regardless of where they own it or not.<h3>5. Time NFTs</h3>While much of the focus on non-fungible token use cases are associated with creating a verified version of a product, the technology's potential is also being used to tokenise people's time.With freelance work exploding worldwide due to the great resignation - freelancers are set to be <a href="https://spendmenot.com/blog/freelance-statistics/">80% of the global workforce by 2030</a> - employment marketplaces like Upwork have made millions by facilitating employers to hire freelance and casual workers.Upwork <a href="https://arateg.com/blog/how-to-make-a-freelance-website-like-Upwork">generated $374 million in revenue in 2020</a>. That led to the emergence of projects like <a href="https://microsponsors.io/">microsponsors</a> that use non-fungible tokens as a way for freelancers to get hired without paying intermediaries.The time a non-fungible token is minted, it is tracked on the blockchain. The blockchain allows you to view an NFTs entire transaction history, including its date, who created it, and its current location, thus enabling collectors to quickly verify an asset's authenticity. Non-fungible tokens may also help collectors make better buying decisions since they can see the sales history of any non-fungible token.Resources you'll love:<ul><li><a href="https://supplain.io/news/top-nfts-with-utility">Here are the top NFTs with Utility [Updated List]</a></li><li><a href="https://supplain.io/news/nft-terms-nft-vocabulary">NFT terms you need to know [Test your NFT vocabulary]</a></li></ul><h3>6. NFT loans</h3>NFTs can replace traditional loans, offering numerous benefits over having a stack of papers and several obstacles applicants need to complete before they can even qualify for a loan.With NFT-backed loans, you can access and keep track of the leased NFT provided by following the transaction from the initial lending date. Suppose a loan repayment defaults. In that case, the owner can automatically claim back the NFT with the entire process taking place without intermediaries.Thus, loans are strictly peer-to-peer, keeping fees low, trust high, and transparency at the forefront of the entire contract.Today, some <a href="https://nftfi.com/">NFT loans</a> include marketplaces that allow you to offer your non-fungible tokens as collateral in exchange for a loan. These loans are immediate, decentralised, and automated, all advantages you won't receive with a traditional loan.<h3>7. NFT coupons</h3>People already use digital coupons daily. Whether we add a coupon code to our purchase at the checkout or redeem our free product on the McDonalds' app, humans are attracted to the idea and ease of using digital coupons. So, how can non-fungible tokens be used to make coupons even better?Non-fungible tokens can be kept as coupons inside a single digital wallet, meaning you can organise all the coupons you've collected in an easy-to-view manner in one location. Plus, since the coupons are stored in digital wallets that public eyes can view, the companies providing these coupons have the potential for more exposure.As well, smart contracts can automatically deactivate any coupons which may expire and provide all the terms for the coupon within the non-fungible tokens. Additionally, you can trade and sell owned coupons on NFT marketplaces, making coupons a way to create and save money.One more consideration is that NFTs could be used in the metaverse as virtual coupons. As more companies like Sony, Meta, Microsoft, and Nike make their way into the metaverse, they will search for ways to provide their loyal customers with special promotions and discounts, with NFTs being an excellent option for this purpose.<h3>8. NFT memberships</h3><figure class="image"><img src="/uploads/24_1399499d6b.png"></figure>Like a coupon concept, NFTs can also be used as a membership to attend special events and gain access to limited-edition products and unique services. A non-fungible token membership is frictionless, transparent in its intent. It permits membership to be effortlessly bought, sold, and traded for any asset on the blockchain.Owning all your memberships in one wallet or place, regardless of the membership type, makes it much easier to track all of your memberships. People can also use memberships to demonstrate their loyalty (or superiority) to particular peer groups, potentially leveraging their brand and even their credibility.For instance, one NFT that offers collectors membership access is the renowned <a href="https://boredapeyachtclub.com/#/">Bored Ape Yacht Club</a> (BAYC). The BAYC NFT collection doubles your membership to a swamp club for apes.Also, collectors of BAYC non-fungible tokens love demonstrating their asset by splashing their BAYC NFTs across social media, primarily as their profile picture, and thus, showing how particular non-fungible tokens can leverage their brand clout.<h3>9. P2E (Play-to-Earn)</h3>Play-to-earn is enormous for both gamers and NFT collectors alike. Games including <a href="https://axieinfinity.com/">Axie Infinity</a> offer players a way to earn money by investing and spending time in the game. The gaming industry has been adept at providing players the opportunity to customise and profit from their in-game experience.Players earn cryptocurrency to exchange for fiat currency by breeding, trading and battling others.This use case for NFTs, with its ability to earn real cash by playing a game, will get more people playing P2E NFT-based games and invest more time and money in them.Axie Infinity is one example of P2E NFT gaming in this space. Fortnite is another and one of the leaders in P2E style gaming.In 2019, Fortnite's 350 million players spent an average of <a href="https://www.businessofapps.com/data/fortnite-statistics/">$82 on in-game content</a>. The following year the <a href="https://www.businessofapps.com/data/fortnite-statistics/">company made $5.1 billion</a> with its users buying clothes and accessories to adorn their avatars. However, the gaming industry has struggled to combat <a href="https://www.kaspersky.com/blog/top-four-fortnite-scams/37896/">fraud</a>.There are reports of buyers being <a href="https://www.reddit.com/r/Twitch/comments/fbvrj1/fake_twitch_streams_are_scamming_people_for_their/">mis-sold items</a> or users being <a href="https://nakedsecurity.sophos.com/2019/12/04/steam-players-beware-of-fake-skins-as-phishers-try-to-hijack-accounts/">subject to phishing attacks</a>. NFTs offer a layer of protection against fraud as they can provide a secure way of verifying ownership and keeping player accounts more secure.<h3>10. NFTs as virtual accessories</h3>Virtual accessories are gaining in popularity. Already seen some big-name brands, including <a href="https://newsable.asianetnews.com/business/nike-to-sell-virtual-footwear-clothes-accessories-as-it-plans-to-set-foot-in-metaverse-gcw-r2as28" target="_blank" rel="noopener noreferrer">Nike, Gucci, and D&amp;G</a>, enter the <a href="https://supplain.io/news/crypto-queens-women-nft-space" target="_blank" rel="noopener noreferrer">NFT space</a>, offering collectors the first opportunity to buy virtual goods.These virtual accessories are sold in the form of non-fungible tokens. The holders of these digital assets can use them in a virtual world now widely known as the metaverse. User-operated virtual avatars, accessories, and various events will begin to populate the metaverse.Moreover, some of the virtual accessories that NFT holders can purchase are eligible to unlock the physical product itself once it enters the market, but at limited-edition drops that are not publicly available to all.<h3>NFTs have several purposes</h3>You can apply non-fungible tokens everywhere you see something unique, be it art, legal documents, personal identification cards, or any branded product.NFT use case possibilities will be endless, and as part of <a href="https://supplain.io/news/web3-solve-web2-problems">Web 3.0</a>, is a new industry that is growing at a phenomenal rate.NFTs have captured the world's attention by disrupting the art industry. But there are several other sectors non-fungible tokens are primed to change.Read about more companies in the <a href="https://supplain.io/news/top-nfts-with-utility">NFT space here</a>.These might be of interest:<ul><li><a href="https://supplain.io/news/crypto-queens-women-nft-space">Crypto queens in the NFT space</a></li><li><a href="https://supplain.io/news/women-investing-nfts">Why do so few women invest?</a></li></ul>

NFTs are not only about digital art. There are several NFT use cases that are being used to change their industry as NFTs did to the art world.

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Wof NFTs

Are NFTs only about digital art? Actually, no.

Supply chains have suffered in the last two years. 2022 will see new supply chain trends and predictions need to look out for.

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Supply chain trends and predictions to look out for in 2022

A digital-only artwork by <a href="https://techcrunch.com/2021/03/11/beeples-69-million-nft-sale-marks-a-potentially-transformative-moment-for-the-art-world/?guccounter=1&amp;guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&amp;guce_referrer_sig=AQAAAGw8TL867J0bz7LyqDo6DLl0rLM3iFnVJzwOu58QS0WZWtto0kZGhEPQZ5WyaSXVBzysSzXoc8dsJbojLbjgc45UiYEsgGx6sqHX_5WKq8eo85YflxmuR87q408MigBYiplGgU-zS4Y0vQSNj4Ck3ZdD_whwf9wxT6MkJ119UXjG#:~:text=Today%2C%20the%20auction%20of%20an,Winkelmann%20%E2%80%94%20known%20online%20as%20Beeple.">Beeple sold at Christie's auction house for a whopping $69m</a>. However, the bidder will not get a physical piece of artwork like you'd usually expect.Instead, the winning bidder will receive a unique digital token known as a non-fungible token (NFT).If Bitcoin is the digital answer to currency. Then NFTs are the digital answer to collectibles.However, despite the enormous amounts quoted and traded, some believe that NFTs are a bubble that will burst soon.<figure class="image"><img src="/uploads/16_b2472f3f64.jpg" alt="Many-many NFTs"><figcaption>Credit: Beeple</figcaption></figure><h2>What is an NFT?</h2>NFT is short for 'non-fungible token'.A fungible asset is a unit that can be interchanged with the same value it initially held, much like money is today.People can exchange two 10 euro notes and receive a €20 note in return; the value remains the same, whether as two banknotes or one = €20.However, a non-fungible unit cannot be interchanged with something else. It could be a car, a house, or a piece of artwork like The Last Supper.It is one of a kind.You can take a photo or buy a copy, but it will never be the original.Non-fungible tokens are 'one-of-a-kind' assets that can be digitally bought and sold like any other asset.These digital tokens can be surmised as certificates of ownership for virtual or physical assets.<figure class="image"><img src="/uploads/17_9fdea75d54.png" alt="Pop NFT"></figure><h2>How do NFTs work?</h2>One-of-a-kind assets are what make them highly valued. Think of an artist painting like the Mona Lisa; fraudsters cannot duplicate the original. Thus it has become very valuable and can fetch large sums of money if sold.However, others can quickly and endlessly duplicate digital files with a digital asset - they create a 'copy.'To ensure originality, a piece of artwork can be 'tokenized' to create a digital certificate of ownership that could be bought and sold and guarantees that the token holder has the original.Much the same as cryptocurrency, the record of who owns what is stored on a ledger known as the blockchain.Fraudsters, hackers, and those wishing to copy files cannot forge the records because the ledger is maintained by thousands of computers worldwide.Furthermore, NFTs can contain smart contracts that could reimburse the artist for any cut if the token is sold as part of a future sale.<h2>If anyone can copy digital art, won't it lose its value?</h2>It depends on your perspective.Beeple's $69m artwork has been copied and shared across the internet, with millions viewing the artwork itself.Even the artist himself retains the copyright ownership, so he can produce more copies if he wishes.However, the buyer or holder of the NFT owns the 'token' that proves they own his original work. Think of it like they have the only copy of an autographed artwork.Because of this, prices for NFTs have skyrocketed.<h2>How much are NFTs worth?</h2>Recent headlines of multi-million-dollar sales have fueled interest in the NFTs, not only for digital artwork.<a href="https://www.bbc.co.uk/news/world-us-canada-56307153">Twitter's founder and CEO, Jack Dorsey, has promoted an NFT of the first-ever tweet</a>, with bids beginning at $2.5m.Musician Grimes<a href="https://www.bbc.co.uk/news/technology-56252738"> sold some of her digital art for more than $6m</a>.Even the animated Gif of Nyan Cat - a 2011 meme of a flying pop-tart cat - <a href="https://foundation.app/NyanCat/nyan-cat-219">sold for more than $500,000</a>!However, as with cryptocurrencies, there is so much written about how they will always rise in value, yet market saturation could quickly implode <a href="https://cointelegraph.com/news/nft-prices-will-eventually-crash-says-litecoin-creator-charlie-lee">because it is so easy to create an NFT</a>.Could this dent demand for NFTs?<h2>Is <a href="https://supplain.io/news/women-investing-nfts" target="_blank" rel="noopener noreferrer">investing in NFTs</a> worth it?</h2>Because of the high sums mentioned above, NFTs attract investors considering the resale values that all artwork pieces can command.As with physical artwork, it owns the art itself does not make the holder rich. It sells the art to the highest bidder willing to pay for it enriches the holder.However, because NFTs are a relatively new investment class, not all understand the potential (or lack thereof) value.Unlike the stock market, it is hard to price digital art, where the stock price is how much the investment is worth. Especially as NFTs are often very illiquid.Investors can buy a stock at a specific price and then sell it when it's at a higher price, making them a profit in the process.With digital art, though, its value depends on how much someone is willing to pay for it, making NFTs a precarious investment.NFTs are highly speculative because it's hard to determine how much a tweet, meme, or image is worth to someone else. What may seem valuable to you at the time is worthless to others, meaning you may not be able to sell the NFT at all.NFTs are interesting, although they are not suitable for all investor types. Those who wish to consider this alternative investment should only buy what they can afford to lose.When your portfolio bulk is invested in lower-risk ventures, you can get curious about whether you have some funds to spare to invest in NFTs.Alternatively, you can observe others attempt to monetize NFTs from the sidelines before deciding to venture into this investment strategy.<figure class="image"><img src="/uploads/18_187f0cbdf5.png" alt="Cartoon of a guy spilling money"></figure><h2>Are NFTs just a bubble?</h2>Digital artists have always struggled with copyright and plagiarism of their artwork.Artists can add their artwork to social media platforms and online galleries to make a profit.However, the caveat to this ease is that it only takes a few clicks for others to copy and download the work for private use without compensating the artist.As discussed above, NFT solves this problem by acting as a virtual certificate of authenticity. Essentially it ties the original digital artwork with the token, thus giving the digital image a higher value than an artist's signature on the physical artwork.The certificate of authenticity or token cannot be forged or copied by anyone as it exists on the blockchain.And yet, there are concerns that this precarious and speculative bubble could crash despite this authenticity, bringing down inflated investor prices with it.Digital artwork relies on manufactured <a href="https://policyreview.info/open-abstracts/digital-scarcity#:~:text=Digital%20scarcity%20is%20a%20credibly,and%20used%20entirely%20digitally.%E2%80%9D%20">digital scarcity</a> - if there is less of something unique, like an NFT piece of work, the price remains high because it is 'one-of-a-kind.'But should artists decide to sell multiple tokens on one piece or not, the market cares for digital scarcity (think music downloads). The price of NFTs could drop for prospective collectors or buyers.<h2>The future of NFTs</h2>Much of the generated value in NFTs is indeed speculative.The biggest cryptocurrencies, Bitcoin and Etherium, and even the gimmick Dogecoin, began the same way. Two of them (Bitcoin and Etherium) have become global mainstays of currency exchange.What may seem ludicrous to pay for a digital token is now the norm.NFTs can provide long-term value creation for artists and businesses in the long term.Gaming companies and even the <a href="https://cointelegraph.com/news/nba-top-shot-leads-nft-explosion-with-230m-in-sales">NBA have devised ways to use NFTs</a> for their profitable benefit.NFTs may be viewed as a bubble, but they are here to stay.Resources you'll love:<ul><li><a href="https://supplain.io/news/nft-events-conferences">Top blockchain, crypto and NFT events to flock to in 2022</a></li><li><a href="https://supplain.io/news/nft-terms-nft-vocabulary">NFT terms you need to know [Test your NFT vocabulary]</a></li><li><a href="https://supplain.io/news/nft-art">NFT art - is it for fools or the basis of a startup revolution?</a></li></ul>

NFTs are commanding exorbitant sums of money. But what are they, and are they worth investing in to make money?

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Everydays: the First 5000 Days

What are NFTs, and why are they worth investing in?

<figure class="image"><img src="/uploads/gold_1_de56884f8b.png" alt="Bitcoin on top of gold"></figure><h2>What happened to gold prices?</h2>Based on the commonly held view that investors invest in gold during volatile times, you would expect gold to rally when markets fail, as happened during the COVID-19 pandemic.With gold prices failing to recover their values as they previously did during economic crisis periods. Many investors have wondered whether gold's crown has been surpassed by investing in digital cryptocurrencies like bitcoin instead?When gold climbed to <a href="https://goldprice.org/gold-price-today/2020-06-30">$1,700 in the early months of the COVID-19</a> lockdowns, gold enthusiasts began to celebrate their patience from the preceding slump in prices.However, their celebration was short-lived. Gold stumbled and remained around <a href="https://goldprice.org/gold-price-today/2021-05-16" target="_blank" rel="noopener noreferrer">the $1,700 - $1,800 mark</a> where it remains at the time of writing this article.The metal has been pronounced dead.Alternatively, bitcoin entered the COVID-19 lockdowns <a href="https://www.bitcoinprice.com/">around the $10,000 mark</a>, lower than its high in 2017.By the end of 2020, gold was just around the $1,900 mark, yet bitcoin had exploded 190% to $29,000 per coin, reaching the $45,000 mark less than six months later, with gold still the same price.<h2>Parallels between gold and bitcoin investing</h2>Between 2008 and 2021, both gold and bitcoin values ran virtually in tandem, both in an upward trajectory.Although price fluctuations connected with bitcoin were more volatile than gold prices, they both managed to attract investors, labeling both the gold standard of alternative investing.There were many parallels with both bitcoin and gold investors at this time.Both believed the dollar was at imminent risk of sharp and severe devaluation.The metal has been pronounced dead.Both saw inflation as eroding into their investments, and neither trusted governments per se. Both bitcoin and gold aficionados believe that governments worldwide actively stoke inflation as a means of indirect taxation and, thus, private wealth confiscation.In other words, both believed that paper fiat currencies or cash was not worth investing in. With bitcoin and gold in limited supply, their investments provided sound returns.But that is when the parallels ended. From then on, both prices began to diverge.Bitcoin prices began to soar at a rapidly growing rate. Investors began to flee the gold markets in favor of the new 'golden boy' of investing.<figure class="image"><img src="/uploads/gold_2_2eed8e4ca0.png" alt="Diagram"></figure>&nbsp;<h2>How did bitcoin take over gold's crown?</h2>Bitcoins and the concept of digital cryptocurrencies have increased in credibility.Some investors are now prepared to view bitcoin as a viable alternative investment vehicle to gold when looking to shrug off the declining values of paper fiat currencies.A rise in the popularity of cryptocurrency helped fuel a growth in demand for digital currency, which has helped boost the price of crypto coins, including bitcoin, accordingly.Furthermore, entrepreneurs like Elon Musk become the poster child for the currency's viability and credibility.However, Musk's predictions almost came across as a pump and dump scheme. one day buying up <a href="https://www.cnbc.com/2021/02/08/tesla-buys-1point5-billion-in-bitcoin.html">billions of the digital currency</a>, making its value soar. A few months later, he changed his stance, stating that bitcoin mining causes too much <a href="https://www.bbc.com/news/business-57096305">environmental damage and saw the value suffer as a result</a>.It is also sentiment that has played a pivotal role in viewing why bitcoin's value remains higher than gold and whether it will be considered gold's successor.<h2>Bitcoin optimists and gold pessimists?</h2>Bitcoin investors believe that the world is improving and that humanity is improving if technology advances human society.Bitcoin investors are technology enthusiasts. They believe that decentralized finance will be inevitable, from P2P payments, virtual currencies, and an increasingly globalized financial network. Bitcoin investors believe digital networks hold the key to a streamlined life cutting out the middle man and improving wealth amongst its holders.Bitcoin investors tend to be younger, around the millennial age or below, and have a better sense of optimism because they benefit from the digital revolution.They have seen extraordinary gains in their personal wealth because they were early adopters or have jumped onto the bandwagon in 2020. Thus, bitcoin investors are hugely optimistic about the currency's future use. It bodes well for them that the cryptocurrency is used more for their beliefs and wallets.Gold investors are more pessimistic because they tend to be more cynical and take a more pragmatic approach to the world. In times of conflict and crisis, will a digital currency hold up?They are not technophobes, far from it.Gold investors view technology as both good and bad. Good for getting information about prices and timing to buy commodities and stocks and bad that too much information has caused disinformation.Like how using <a href="https://www.thetradenews.com/the-reddit-revolt-gamestop-and-the-impact-of-social-media-on-institutional-investors/">social media influences the GameStop stock buying</a> network of Reddit retail investors thwarted institutional investors' plan to short the stock.Typically gold investors are older and probably wiser, viewing market peaks and crashes, bubbles, and general personal life experiences. Gold investors have lived through more and have the scars to show it.Gold investors' enthusiasm can be seen as an indicator of why they don't cautiously buy it or rush to buy bitcoin, although they value gold.<h2>So is bitcoin the new gold?</h2>Fundamentally, gold has proven over centuries to be inversely correlated with the performance of stocks, bonds, and fiat currencies in inflationary environments. When they suffer, gold prices go up.While claiming to be an alternative currency and a store of value, Bitcoin is an alternative asset, not an alternative currency. Bitcoin benefits from similar trends that drive up prices in the assets environment, namely that investment returns are sluggish.For an asset to be highly valued, it needs stability. Bitcoin is an excellent speculative investment as an inflationary asset bubble. However, provided its high volatility remains, it will never replace stable assets.In deciding whether bitcoin is indeed the new gold, investors should remember that the cryptocurrency market is still thinly traded and unregulated compared to the gold market.Meaning that sentiment and prices could quickly swing away from the digital currency, as what happened after an appearance from <a href="https://www.bbc.com/news/world-us-canada-57045770">Elon Musk on Saturday Night Live in May 2021</a>.Plus, governments are reluctant to accept cryptocurrency as payment, with some governments like <a href="https://www.bbc.com/news/business-57169726">China pushing back against it</a>, causing the coin's value to drop in a day.The conclusion has to be that while it can be a helpful instrument, it could be a risky conclusion to reach that bitcoin is about to replace gold as the default safe haven in times of trouble.Resources you'll love:<ul><li><a href="https://supplain.io/news/what-are-nft-investments">What are NFTs, and why are they worth investing in?</a></li><li><a href="https://supplain.io/news/nft-art">NFT art - is it for fools or the basis of a startup revolution?</a></li><li><a href="https://supplain.io/news/nft-use-cases-digital-art">Are NFTs only about digital art? Actually, no.</a></li></ul>

During times of crisis, investors flock to invest in gold. But lately, there is a new kid on the block - bitcoin. Is bitcoin now the new gold?

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To infinity and beyond!April — “Let's have a quick call.”July — “Here's the first technical brief.”August — “We can sell 1,000 pictures of trucks as NFTs.”September — “<a href="https://worldoffreight.xyz/mint">Go mint, everyone!</a>”October — <a href="https://worldoffreight.xyz/wof-token">$WOF Token</a>, <a href="https://worldoffreight.xyz/fleet">My Fleet</a>, <a href="https://worldoffreight.xyz/garage">Garage</a>, <a href="https://worldoffreight.xyz/junkyard">Junkyard</a>, <a href="https://worldoffreight.xyz/freight-punks">Freight Punks</a>…November — <a href="https://www.nft.nyc/">NFT.NYC</a>, Racing Arena &amp; the development of Supplain starts…<figure class="image"><img src="/uploads/10_2068ea0329.png" alt="To infinity and beyond! April — “Let's have a quick call.” July — “Here's the first technical brief.” August — “We can sell 1,000 pictures of trucks as NFTs.” September — “Go mint, everyone!” October — $WOF Token, My Fleet, Garage, Junkyard, Freight Punks… November — NFT.NYC, Racing Arena &amp; the development of Supplain starts… Just Relax, Gonna Make it! — Credit: Grackle Just Relax, Gonna Make it! — Credit: Grackle We've come a long way in these last few months. All thanks to the World of Freight community and their full support! That said, the exciting times are only ahead of us… However, an official update is overdue since much has been discussed within the Discord community and our core development team. Thus, in the following few hundred words, I'll be giving an overview of what World of Freight has become and how far it will go. NB! This article will primarily focus on the World of Freight and its ecosystem, only covering Supplain a bit, as the latter has evolved enough to need a separate piece to cover all the updates — which is coming soon as well. What has World of Freight become? First, there was Supplain, then came World of Freight. I have previously written that our initial thought was to launch an NFT set to bring together a community of freight frens, together with whom we would ideate &amp; fund building a new-age supply chain blockchain. This is precisely what we did. On September 26th, we launched the sale of World of Freight NFTs. Two months later, we have almost 200 verified freight frens in our Discord, with over 600 World of Freight NFT owners in total. In this community, we have real-world truck drivers, logistics professionals, supply chain executives, developers of digital tools, venture capitalists, and other awesome people who love NFTs and crypto projects. Moreover, some community members have joined the WOF Labs core team, helping us build Supplain's infrastructure. However, since launching the initial collection, we have taken it much further. By now, it has become more than an NFT that brings together a community. This will always be its primary mission, but in addition, we are also creating an entire world of freight — with transformable vehicles, a P2E racing game, IRL events and many other fun activities. In fact, we have already launched a few of the initial add-ons: $WOF Tokens, our in-game utility token that all genesis vehicles earn. Freight Punks, the free mint NFT set with special future utilities. Garage, a place where one can upgrade their vehicles. Racing Arena, our first version of the game. Other than that, we have also initiated additional Discord-based activities, such as doing deep-dives into other projects the community members are keeping our eyes on and hosting trivia nights and a text-based RPG game. That said, I am very proud of how diverse our community has become and looking forward to what else will get introduced in the future. Examples of the vehicles that went through the Garage Examples of the vehicles that went through the Garage How far does World of Freight go? By now, we have established the foundation for the World of Freight. However, this is only the beginning. Together with our community, we have created the first diverse set of vehicles for the metaverse. Of course, the existing vehicles are far from being perfect. Yet together with Garage &amp; Racing Arena, it is a great starting point for everything that is to come. Garage Ever since we started, some of our freight frens have pointed out that the vehicles might need a revamp. And we totally agree that some look hideous, which is precisely why we created the Garage in the first place. In fact, Garage is the tool that lets us constantly evolve the genesis collection while also enabling the NFT owners to customise their vehicles further, generating a stronger bond between the owners and their machines. At present, Garage enables one to rename their vehicle, add a new slogan, change the background, or get a completely new paint job. (…the paint job might come with an entirely updated vehicle look) As for the future — one might've noticed that each vehicle has different stats. All these play an essential role within the Racing Arena. We will also make it possible to upgrade the stats. However, we will introduce some twists whereby the upgrades will only be available to those actually racing with their vehicles or participating in other future games. …there have even been rumours about having to collect craftable items. As well as accessories that can be attached to different vehicles. NB! It is also noteworthy that every upgrade makes the vehicle rarer. Racing Arena The initial racing game starts as a simple play-to-earn game with races for different vehicle types — space, air, ground &amp; water. The initial concept is straightforward: Choose a race type. Pick a vehicle. Pay $WOF tokens. Win or lose. That said, races have different prize pools and competing in more races opens up new possibilities. Starting from better vehicle upgrading opportunities. While also enabling one to access special features and new gameplay elements before others. For example, we are looking into making it possible to rent out the vehicles or print copies of them for future players once the genesis vehicles mint out. Other than that, we are ideating about creating a more complex supply chain management game where one would have to go on missions to collect specific elements and items, transporting them across the world of freight. And, we will also introduce a mechanic for using the Freight Punks within the Racing Arena. A Portal opens Did someone mention the metaverse? Ever since we started working on the World of Freight, we promised to take the vehicles to the metaverse eventually. And the first step for that is creating 3D models of the vehicles… However, we don't want to simply take the existing NFTs and create 3D versions of them. Instead, we shall create new, kick-ass vehicles that are metaverse-specific. Once this is done, we will be able to create an actual computer game, or enable third parties to do that with our vehicles. Other fun and exciting elements… We understand that not everyone is excited about playing games in the metaverse. And after all, we are firstly building a community of freight frens, along with the Supplain blockchain. That is why we are also working on some non-game related utilities, e.g. Members-Exclusive Merch Store. Treasure Hunt with Awesome Prizes (including a Tesla Model 3). IRL Live Events to Learn &amp; Have Fun. We will also have some extra airdrops for existing NFT holders, such as a metaverse trucker hat to existing NFT holders. As well as try to find other neat opportunities for our community members via cross-community giveaways and whitelisting possibilities. And this is just everything that has been previously discussed within our Discord community. Our team is constantly looking for new ideas, and we are happy to involve more people in implementing these ideas. More so, we hope to decentralise the whole World of Freight ecosystem eventually. And thus really encourage people to join in via deeper discussions already now. NB! If you have not gotten yourself a World of Freight NFT yet, get it now! Also, get yourself a Freight Punk! Also, get yourself a Freight Punk!"><figcaption>Just Relax, Gonna Make it! — <a href="https://opensea.io/assets/0x1a7e29a8c5d2320a1b56735b7654139e7b2860af/2137">Credit: Grackle</a></figcaption></figure>We've come a long way in these last few months.All thanks to the <a href="https://supplain.io/community">World of Freight community </a>and their full support!That said, the exciting times are only ahead of us…However, an official update is overdue since much has been discussed within the <a href="https://discord.gg/WorldOfFreight">Discord community</a> and our core development team.Thus, in the following few hundred words, I'll be giving an overview of what World of Freight has become and how far it will go.NB! This article will primarily focus on the World of Freight and its ecosystem, only covering Supplain a bit, as the latter has evolved enough to need a separate piece to cover all the updates — which is coming soon as well.<h2>What has World of Freight become?</h2>First, there was Supplain, then came <a href="https://worldoffreight.xyz/">World of Freight</a>.I have previously written that our initial thought was to launch an NFT set to bring together a community of freight frens, together with whom we would ideate &amp; fund building a new-age supply chain blockchain.This is precisely what we did.On September 26th, we launched the sale of World of Freight NFTs.Two months later, we have almost 200 verified freight frens in our Discord, with over 600 <a href="https://supplain.io/news/story-behind-wof">World of Freight NFT owners</a> in total.In this community, we have real-world truck drivers, logistics professionals, supply chain executives, developers of digital tools, venture capitalists, and other awesome people who love NFTs and crypto projects.Moreover, some community members have joined the <a href="https://www.linkedin.com/company/wof-labs/">WOF Labs</a> core team, helping us build Supplain's infrastructure.However, since launching the initial collection, we have taken it much further.By now, it has become more than an NFT that brings together a community. This will always be its primary mission, but in addition, we are also creating an entire world of freight — with transformable vehicles, a P2E racing game, IRL events and many other fun activities.In fact, we have already launched a few of the initial add-ons:<ul><li><a href="https://worldoffreight.xyz/wof-token">$WOF Tokens</a>, our in-game utility token that all genesis vehicles earn.</li><li><a href="https://worldoffreight.xyz/freight-punks">Freight Punks</a>, the free mint NFT set with special future utilities.</li><li><a href="https://worldoffreight.xyz/garage">Garage</a>, a place where one can upgrade their vehicles.</li><li><a href="https://worldoffreight.xyz/racing-arena">Racing Arena</a>, our first version of the game.</li></ul>Other than that, we have also initiated additional Discord-based activities, such as doing deep-dives into other projects the community members are keeping our eyes on and hosting trivia nights and a text-based RPG game.That said, I am very proud of how diverse our community has become and looking forward to what else will get introduced in the future.<figure class="image"><img src="/uploads/11_32b9d3bf2c.png"><figcaption>Examples of the vehicles that went through the <a href="https://worldoffreight.xyz/garage">Garage</a></figcaption></figure><h2>How far does World of Freight go?</h2>By now, we have established the foundation for the World of Freight.However, this is only the beginning.Together with our community, we have created the first diverse set of vehicles for the metaverse. Of course, the existing vehicles are far from being perfect. Yet together with Garage &amp; Racing Arena, it is a great starting point for everything that is to come.<h3>Garage</h3>Ever since we started, some of our freight frens have pointed out that the vehicles might need a revamp. And we totally agree that some look hideous, which is precisely why we created the Garage in the first place.In fact, Garage is the tool that lets us constantly evolve the genesis collection while also enabling the NFT owners to customise their vehicles further, generating a stronger bond between the owners and their machines.At present, Garage enables one to rename their vehicle, add a new slogan, change the background, or get a completely new paint job.(…the paint job might come with an entirely updated vehicle look)As for the future — one might've noticed that each vehicle has different stats. All these play an essential role within the Racing Arena.We will also make it possible to upgrade the stats. However, we will introduce some twists whereby the upgrades will only be available to those actually racing with their vehicles or participating in other future games.…there have even been rumours about having to collect craftable items. As well as accessories that can be attached to different vehicles.NB! It is also noteworthy that every upgrade makes the vehicle rarer.<h3>Racing Arena</h3>The initial racing game starts as a simple play-to-earn game with races for different vehicle types — space, air, ground &amp; water.The initial concept is straightforward:<ol><li>Choose a race type.</li><li>Pick a vehicle.</li><li>Pay $WOF tokens.</li><li>Win or lose.</li></ol>That said, races have different prize pools and competing in more races opens up new possibilities. Starting from better vehicle upgrading opportunities. While also enabling one to access special features and new gameplay elements before others.For example, we are looking into making it possible to rent out the vehicles or print copies of them for future players once the genesis vehicles mint out.Other than that, we are ideating about creating a more complex supply chain management game where one would have to go on missions to collect specific elements and items, transporting them across the world of freight.And, we will also introduce a mechanic for using the Freight Punks within the Racing Arena.<h3>A Portal opens</h3>Did someone mention the metaverse?Ever since we started working on the World of Freight, we promised to take the vehicles to the metaverse eventually.And the first step for that is creating 3D models of the vehicles… However, we don't want to simply take the existing NFTs and create 3D versions of them. Instead, we shall create new, kick-ass vehicles that are metaverse-specific.Once this is done, we will be able to create an actual computer game, or enable third parties to do that with our vehicles.<h3>Other fun and exciting elements…</h3>We understand that not everyone is excited about playing games in the metaverse. And after all, we are firstly building a community of freight frens, along with the Supplain blockchain.That is why we are also working on some non-game related utilities, e.g.<ul><li>Members-Exclusive Merch Store.</li><li>Treasure Hunt with Awesome Prizes (including a Tesla Model 3).</li><li>IRL Live Events to Learn &amp; Have Fun.</li></ul>We will also have some extra airdrops for existing NFT holders, such as a metaverse trucker hat to existing NFT holders. As well as try to find other neat opportunities for our community members via cross-community giveaways and whitelisting possibilities.&nbsp;And this is just everything that has been previously discussed within our <a href="https://discord.gg/WorldOfFreight">Discord community</a>.Our team is constantly looking for new ideas, and we are happy to involve more people in implementing these ideas. More so, we hope to decentralise the whole World of Freight ecosystem eventually. And thus really encourage people to join in via deeper discussions already now.NB! If you have not gotten yourself a World of Freight NFT yet, <a href="https://worldoffreight.xyz/mint">get it now</a>!<figure class="image"><img src="/uploads/9_5f38d627c9.png" alt="Also, get yourself a Freight Punk!"><figcaption>Also, <a href="https://worldoffreight.xyz/freight-punks">get yourself a Freight Punk!</a></figcaption></figure>

We've come a long way in these last few months. Yet WOF shows no sign of slowing down. Read how this is only the beginning of how we plan to take our NFTs even further.

The Entire
Supply Chain.
Reimagined

Creating Positive Global Change By
Reimagining Supply Chain
Data Ownership

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Confessions of a blockchain developer

Top blockchain, crypto and NFT events to flock to in 2022

The foremost supply chain innovation summit you simply cannot miss

Advantages and disadvantages of connected supply chains

The Entire Supply Chain. Reimagined

Creating Positive Global Change By Reimagining Supply Chain Data Ownership

Discover Supplain

Partners

Latest News

Confessions of a blockchain developer

Top blockchain, crypto and NFT events to flock to in 2022

The foremost supply chain innovation summit you simply cannot miss

Advantages and disadvantages of connected supply chains

The Entire
Supply Chain.
Reimagined

Creating Positive Global Change By
Reimagining Supply Chain
Data Ownership