The app, which would be subsumed with Crown TV's signage solution, would allow for the availability of NFTs in the physical realm, which conventionally exists in the digital realm, for them to be displayed in retail spaces.
A Non-Fungible Token is a digital asset that habituates on a blockchain and can be bought or sold. They take several forms of digital artwork, photography, music, videos, tweets, memes, or any digital file which could be reproduced.
Interestingly, the app will provide businesses with opportunities to display their NFTs or any NFT that is publicly available on OpenSea, which is an NFT marketplace. Users can also provide additional details, such as price information, provenance, description, and a QR code that enables retail shoppers to scan and purchase the NFT on their phone from the store.
While the move of Crown Tv to bring NFT to the physical realm is laudable, it is important to state that this act is not without its challenges. Brands such as Nike, Disney, McDonald's, and the Dallas Mavericks NBA team have started offering NFTs to consumers but have not implemented its display in retail locations. Superchief Gallery launched its first physical NFT art gallery in 2021, but it was described as glitchy, lagging screens during exhibitions. On the other hand, Toy brand LOL Surprise! announced what it claimed was "the largest retail NFT launch in history," which involves the release of 10 million packs of cards in 20,000 retail outlets, including Walmarts, Target and Walgreens. Each card has its unique QR code for digital trading cards, tokens, NFTs, or a digital version of a physical collectible.
Crown TV's app would be available to users of its digital signage software on the dashboard. Amazing features that the app is made up of include content optimization for video walls, vertical displays, horizontal displays, and screens with HDMI support, with up to 4K resolution. Alongside the Crown Tv's digital signage apps, the NFT can be included in a playlist and programmed to be displayed among other apps and content on screens.