Why NFTs Are Here To Stay and Harley Davidson

NFTs (non-fungible tokens) are not only about looking at cool art, it’s about a new way humans are socially interacting with each other. NFTs are built around communities and things people are passionate about. Whether it’s music, charities, social clubs, supporting emerging artists, a successful NFT project has an underlying theme that unites people to come together and want to buy into an NFT project. Buying into an NFT project becomes more than just an investment, it’s a place people can express their values and beliefs, as well as build new relationships. You have a community in which you are able to speak to on a daily basis (through community chats like Discord and Twitter, for example). In my opinion, a technology that brings people closer together is here to stay and will continue to grow over time. The biggest misunderstanding people have regarding NFTs is that they associate them with only being a JPEG, or a piece of art. Although this is true, NFTs are about community and community drives evolution.

Harley Davidson Motorcycles

What on earth do Harley Davidson’s have to do with NFTs? More than you realize, actually. Many people who ride motorcycles are passionate about Harley Davidsons. They aren’t only buying their motorcycles, they are buying their merchandise and apparel, joining online forums to talk about their motorcycles and partaking in in-person meetups where they can ride their bikes together. Think about the Harley Davidson motorcycle as buying the NFT. It’s not just about the bikes, people love being part of the Harley Davidson community. It’s a family, one that has been around since 1903 (that’s 116 years, if you don’t want to do the math). Harley Davidson’s largest proponent isn’t the bikes themselves, it’s the community. Harley Davidson’s community is based on loyalty, comradery, togetherness, and supporting each other. People make lasting friendships through the Harley community, just like they do within strong NFT communities. The difference with NFT communities is that they are built on the blockchain, meant to enhance transparency and security.

With that said, Harley Davidson may very well create their own NFTs as a way to bridge the younger generation in with the Harley brand. Owning a Harley NFT could mean early access to Harley events, special access to merchandise or new motorcycles, discounts on apparel and merchandise. The list can go on — it’s ultimately up to Harley Davidson to decide what benefits they’d like to give their NFT owners.

What would make Harley Davidson’s business slow or eventually go obsolete?

Ultimately, if people stop buying their motorcycles, then their business will suffer. But why would people stop buying their motorcycles? Ultimately, it’s because their community is weakening. In order for Harley Davidson to strive, their community needs to continue to strive. So when you really think about it, NFTs projects and Harley Davidson have a lot in common. It all revolves around community. The difference is that NFTs are based in the digital world, on the blockchain to be precise. If we have this perspective, understanding how NFTs are beneficial and why they are here to stay becomes easier to understand. Once you peel back the complex layers of technology of NFTs, you come to realize that the foundation of what makes NFTs successful is community — that’s what is relatable to all of us. If you understand why Harley Davidson has been around for 116 years, then you will understand why NFTs will be around for years to come.

Thank you for reading,

Wassim

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Wassim Kanaan (The Kanaan Report)

Wassim Kanaan (The Kanaan Report)

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Passionate about financial education, markets and life optimization.