In the rapidly-evolving field of crypto investments, Netherlands-based Blockchain Investments & Co. has launched a new token that marketers can use to create "NFT Bots" that reward consumers as part of loyalty programs.
While some see NFTs, or non-fungible tokens, as a gimmick, they have also become the rage on Madison Avenue with various degrees of success and failure as brand marketers experiment with the blockchain-enabled assets to help incentivize consumers.
But what exactly are NFT Bots, and why do they matter?
Cryptocurrencies are hyper-volatile assets, and managing them manually can be exhausting and challenging. Trading crypto takes place around the clock, unlike traditional markets, and prices can shift drastically in seconds.
To lessen the load of trading, some investors rely on the powers of crypto bots -- or trading algorithms. To execute a trade in the most efficient and profitable way, traders can leverage a predefined set of rules into a bot/algorithm, which makes automated decisions without human emotion.
With NFT Bots, which combine the code of advanced trading algorithms and the capabilities of NFT’s, Blockchain Investments & Co. is capitalizing on the value of a trustworthy algorithm –– insightful crypto bots used well can make traders lots of money.
The only difference in terms of what Blockchain Investments & Co. is doing with NFT Bots is inviting users of their coin to monetize their algorithms by trading them through their marketplace. For investors looking to outperform the market, this could be a persuasive business proposal.
In 2013, Blockchain Investors & Co. set up Cryptotrader, the first crypto algorithm platform, where NFT Bots can now be purchased. 10,000-plus algorithms are stored there, and over 5 million backtests have been made since inception by active users.
As executives from major advertising agencies and Big Tech leave high-powered jobs for the thrill and promise of cryptocurrency start-ups, and other industries including music and art turn toward NFTs, innovative trading and selling options like this one may become commonplace -- especially when involved in the promise of doing less manual work for a higher payoff.