The utility era of NFTs has only just begun, but many in the space believe mainstream adoption is close at hand. One innovator excited by NFTs' current and near-term potential is Mark Elenowitz, co-Founder of Horizon & Upstream, who spoke with Roundtable's Rob Nelson at BattleFin in Miami. In a wide-ranging interview, Elenowitz discussed broad industry trends and how his company works with sports figures and other celebrities to grow and reward their fanbases with NFTs. In this segment, he discusses how NFTs can complement existing franchises—from local restaurants to iconic names in fast food.
Elenowitz explains how NFTs can function as extensions of other forms of entertainment.
"When you see a movie, it's a one and done experience. But you could leave the movie and go to the Ghostbusters website, for example, and get an NFT, and that NFT shows you things that you didn't see in the movie, the outtake things, and it's free," he says. "You're taking entertainment and creating brand longevity."
He goes on to explain how his firm is exploring how NFTs can bridge the metaverse and real world activities like food delivery.
"We're also taking NFT to the next level where you're having physical food in the real world. There's a franchise opportunity in the metaverse for a particular restaurant," he explains.
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"You go, you experience it, you listen to the music, you see a band play and then you're hungry. The NFT acts as the ability to transact. So you're coming out of a virtual world into a physical world and then UberEats delivers your burger."
Watch the full discussion below:
Mark Elenowitz, Co-Founder, Horizon & Upstream