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Why Val Kilmer Believes in the Dynamic Utility Traits of NFTs

AccessTimeIconMar 14, 2022
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CoinDesk Staff

The non-fungible token (NFT) industry is rapidly moving from simple JPEGs to NFTs with real utility, and the dynamic utility traits that users can attach to their NFTs are at the forefront of this new trend. These NFTs enhance the relationship between any creator and his or her community by imbuing simple NFTs with bespoke utilities that can grow and change, provide owner-specific benefits and open an essentially unlimited set of interactive tools to cultivate and engage communities.

Some examples of these creator-community relationships: entertainers, athletes, celebrities and their fans; art creators and collectors; social causes and their supporters; open-source and open ecosystem projects and their users; as well as corporations and their stakeholders. Community members get real ownership and benefits in an ecosystem that respects their privacy by not requiring any of their personal information.

Anyone can now build and monetize these utility-driven NFTs without the need to code them themselves by partnering with Galaxis, a cutting-edge engagement platform that was founded in Singapore in 2021 by Andras Kristof and Ben Ong, originally as an NFT project called Ether Cards. They quickly realized the dynamic, interactive utility traits available in the Ether Cards collection would be useful for other current and future NFT projects. To date, the company has grown organically via funds raised from the Ether Cards NFT sale as well as through revenue generated from partner projects.

Anyone using Galaxis can easily add dynamic utility traits to their new or existing NFT collection, such as:

  • Physical redeemables: art prints, figurines, jerseys or any other merchandise
  • Digital redeemables: any digital asset
  • Discount traits: single, multi- or unlimited use discounts applied to blockchain transactions
  • Access traits: exclusive access to community spaces, live streams, performances, 1:1 meetings, VIP events and more
  • Modifier traits: allow the owner to modify the look or use of the NFT itself
  • Dropper traits: art, token and discount drops
  • Badges: signify an NFT’s status or rank and provide related incentives

Introducing Val Kilmer

In partnership with Galaxis, actor, writer and visual artist Val Kilmer is launching Kamp Kilmer, a virtual space where a community of eclectics and artists can come together to share ideas and collaborate on art, film, music and literary projects without the limitations of space and time.

The first project of Kamp Kilmer will be to transform Val’s God Panels project into collaborative NFTs with the Galaxis Art Engine. Presale access to Kilmer’s first collaborative art offering, God Panels is open now. God Panels NFTs leverage elements of creative collaboration and gamification to produce ever-evolving, “living” works of digital art.

Val’s work as a visual artist gained wide attention and acclaim in the award-winning 2021 autobiographical documentary from Amazon Studios and A24, “VAL.” In the film, viewers saw Val parsing out the name God in multiples, inviting the viewer to abstract and examine the word and one’s own relationship with the word itself. Transforming this concept into collaborative NFTs is the first Kamp Kilmer project, using the Galaxis Art Engine.

“I am grateful to Galaxis for enabling my vision and creating a first-of-its-kind art engine that utilizes cutting-edge blockchain technology that enables the creation of collections of collaborative, dynamic, continuously evolving digital art pieces,” said Kilmer. “Something that was simply not possible prior to the Web 3 crypto world.”

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Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

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Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

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