This French start-up that wants to make NFT useful

How did you come to create Capsule Corp Labs?

Initially in 2020 we created Ternoa, which is a “layer 1” blockchain project entirely dedicated to NFTs. We had a market view that said that NFTs will become more and more utilitarian. In other words, we think that utilitarian NFTs will become the digital format of tomorrow and that they will vastly surpass the use case of collectible NFTs, which are heavily present in the art market. This year we created Capsule Corp Labs, which aims to offer NFT entrepreneurs applications that allow them to integrate the blockchain.

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Specifically, what are utility NFTs?

If you think about what it is conceptually, it’s quite simple. Utility NFT is for everything that is not collectible NFT. Basically, it is when the use value exceeds the scarcity value of the NFT. Like PDF or JPG files, which allow you to view digital content, NFT utilities must be seen as the possibility of real digital co-ownership of the asset. This is precisely the characteristic of the blockchain. It is a new decentralized server organization that makes it possible to respond to one of the limitations of the Internet, namely that of the double dependence on digital assets. The Internet knows how to locate information very well, but the circulation of information requires infinite duplication.

Do you have an example of what an NFT utility could be?

If I have an image on my computer, I can send it to someone, nobody owns it. We both have it in our possession. So these images or data have no value. The blockchain makes it possible to respond to this problem of double dependence and to give real digital ownership. NFT is the digital format that will allow the implementation of this type of infrastructure. As for NFT utilities, they will allow you to view anything, and be the owner: images, a QR Code, a loyalty program … What changes is the use value behind it. A concert ticket, for example, you will buy not because it is an NFT but because you want to go to the concert. You buy it for its use and not for its prestige. Look Fortnite, players will spend 50 euros per month to purchase “skins” (an aspect that your character can wear to change their look). This collectible NFT does not contribute to the game and belongs to a centralized database owned by Fortnite. The ultra revolutionary NFT utility allows you to acquire this digital asset and use it later.

Read also: Eshot Labs launches its NFT video creation solution

What are the goals of Capsule Corp Labs?

Our goal is to develop utilitarian NFTs so that they can be established for both start-ups and large clients. The difficulty today in developing NFT is that it is very difficult to access due to the types of computer languages, such as Web3. So we told ourselves that we would facilitate the integration of NFTs into existing computer systems by creating software development (which allows developers to work on the software). The goal is for them to use our SDKs (software development kits) and NFTs in JavaScript, which is the most widely used computer language in the world.

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