NFT Use Cases III (Sector-based 1/2)

Whilst the previous article focussed on applications for NFTs, the current article explores how different sectors have attempted to adopt NFTs and to what purpose.

NFT Use Cases III (Sector-based 1/2)

Whilst the previous article focussed on applications for NFTs, the current article explores how different sectors have attempted to adopt NFTs and to what purpose.

Date: 22 May 2023
Author: Gaya Chandrasekaran

In the previous article we highlighted a few applications for NFTs that go beyond digital art and client engagement. We specifically looked at how NFTs are used in insurance claims, compliance & regulation, securities & investments as well as in supply chain management alongside mentioning a few firms that are currently involved in such use cases respectively.

Interestingly, whilst the previous article focussed on applications for NFTs, the current article explores how different sectors have attempted to adopt NFTs and to what purpose. Specifically, we will look at financial services, gaming, and charities.

In the next article we will look at a few more sectors. The examples are a non-exhaustive list of key sector developments.

Financial Services

Some of the applications of NFTs within the financial services space include ticketing for events, fundraising, brand engagement, collateralised lending, expanding product offering or even just exploring the new technology.

NFT Use Case

#1 Fundraising for CSR related activities (Curve, Mar-21)

Released Ethereum-based five Curve-themed NFT’s for the Theatre Support Fund+ to support struggling theatre community in London, impacted by the COVID-19 pandemic.

#2 Exploring the new technology (Visa, Aug-21)

Acquired CryptoPunks for $150,000, as it expects NFTs to play an “important role” in the future of retail, social media, entertainment, and commerce.

#3 Client / Brand engagement (Bank of America, Oct-21)

Created the world’s first NFT from a bank, by commissioning limited-edition digital collectible named “Earth Anew“, to present to its top 50 global clients during the Sibos 2021 conference.

#4 Ticketing for Events (JP Morgan, Dec-21)

Issued NFTs to 69 attendees of its first “Crypto Economy Forum for TradFi Investors” event, which were minted on Ethereum layer 2 network Polygon.

#5 Expanding business lines or offerings (New York Stock Exchange (NYSE), Feb-22)

Filed an application with the US Patent and Trademark Office to provide an online marketplace for various digital goods including NFT, cryptocurrencies, digital media and artwork. It plans to do for digital assets what it does for stocks.

#6 Brand engagements, (Visa, Mar-22 – Oct-22)

  • Launched an NFT creator program named ‘Visa Creator Program’ to bring small businesses into the digital economy, by collaborating with global cohort of creators including artists, musicians, fashion designers and filmmakers.
  • Filed two trademark applications to the United States Patent and Trademark Office (USPTO) related to digital wallets, NFTs and the metaverse. 

#7 Expanding business lines or offerings, (American Express, Mar-22 – Oct-22)

Planned to enter Metaverse by filing trademark applications for its logos and items including the Centurion black card and “Shop Small” program. Also sought to engage in virtual payments and electronic business transactions for digital media and NFTs.

#8 Maintaining electronic records of loans, (Bru Finance, Apr-22)

India-based decentralized finance (DeFi) startup Bru Finance uses NFTs to maintain and convert electronic records of loans given to farmers against the value of their produce and enters them into a blockchain-based ledger.

#9 Collateralised lending, (Deefy, Apr-22)

A developer of decentralized protocol designed for financial services, it offers instant loans on NFT collections, and provides a score based on the floor price, sale history, number of holders, and price fluctuations of an NFT.

#10 Fundraising / Crowdfunding / Stock options, (Keycount, Apr-22)

Launched the first NFT crowfunding project in Switzerland, by offering 295 NFTs to be split into three categories. Each NFT encompasses a stock option enabling the owner to buy shares for the current valuation of €4.25m.

#11 Expanding business lines or offerings, (Nomura Holdings, May-22)

Created a new digital asset company that will offer institutional clients and investors with products & services linked to cryptocurrencies, stable coins, decentralized finance (DeFi), NFTs and other tokens.

#12 Expanding business lines or offerings, (Mastercard, Jun-22 – Sep-22)

  • Announced it is working with Immutable X, Candy Digital, The Sandbox, Mintable, Spring, Nifty Gateway, and MoonPay (Web3 infrastructure provider), to allow people to use their Mastercard cards for NFTs purchases. Also bringing its payment network to Coinbase’s new NFT marketplace.
  • Cryptocurrency and fiat exchange Hi launched a debit card, powered by Mastercard, which users in more than 25 European countries can customize with their own NFT avatars.

#13 Expanding business lines or offerings, (ZELF, Jun-22)

Simplifies the purchase and collection of NFTs by integrating NFT cards into Apple and Google Wallets, and allows gamers to capitalize on their skills by trading virtual assets for real money. First financial service ever to bring gaming assets, crypto digital art and regular money under one banking roof.

#14 Expanding business lines or offerings, (Sumitomo Mitsui Financial Group, Jul-22)

Announced plans to work with Japanese Web3 startup HashPort to develop an ecosystem around Web3 and NFTs, including promoting Web3 in Japan and setting up a Token Business Lab to collaborate on research and demonstrations and promote the token business.

#15 Expanding business lines or offerings, (Seba Bank, Oct-22)

Launched a regulated NFT custody platform allowing its retail and institutional clients to store tokens from Ethereum-based NFT collections like Bored Ape and CryptoPunks in the bank’s new custodial service.

Swiss Seba Bank launches NFT custody despite market decline (

#16 Expanding business lines or offerings, (Sygnum, Nov-22)

Launched a suite of specialised NFT services targeting professional creators, the ever-growing Web3 community as well as its banking clients.

Sygnum NFT: Sygnum looks to the future and launches NFT issuance, consulting and custody

#17 Client or brand engagement, (Franklin Templeton, Dec-22)

Announced that it is exploring use cases for NFTs despite a turbulent crypto market environment. The company minted its first NFTs — issuing them to attendees of its first Innovation Forum held in September 2022 to offer clients a way to explore the digital assets ecosystem.

#18 Expanding business lines or offerings, (HSBC, Jan-23)

Invested in NFT and the metaverse technology by acquiring its first property in The Sandbox, an Ethereum-based online gaming platform and the NFT marketplace. HSBC sees great potential in these technologies to revolutionize traditional banking as they could provide new ways for customers to manage their finances and create unique experiences between them and HSBC.

#19 Expanding business lines or offerings, (Hang Seng Bank, Jan-23)

Launched the first NFT wallet for customers in the retail banking industry in Hong Kong, enabling customers to safely store NFT in their wallets harnessing the blockchain technology of Web3
Hang Seng Bank launches first NFT wallet for | Marketing-Interactive

#20 Fundraising for social impact, (imagin (CaixaBank), Apr-23)

imagin, the digital services and lifestyle platform promoted by CaixaBank, ventured into the NFT universe through the first collection of ‘tokenised’ digital illustrations that will reflect the support given to projects with a positive social impact.


#21 Expanding business lines or offerings, (Spotify, Jun-22)

Spotify and Roblox, a popular gaming and metaverse platform with Gen Z, launched Spotify Island on Roblox and tested NFT promos within the artist profiles.

#22 Client or fan engagement, (Square Enix, Jul-22)

Square Enix’s Final Fantasy partnered with Enjin’s Efinity platform to launch two NFTs related to 25th-anniversary edition of Final Fantasy VII’s Strife, priced at $130 for standard edition, and $150 for Digital Plus offering.
Final Fantasy Teams Up With Enjin to Release NFTs | Hypebeast

#23 Expanding business lines or offerings (Megafans, Aug-22)

Successfully launched its first NFTs, which come with multiple use cases, including VIP memberships and privileges, access to special events, auctions, private tournaments, and other tokens.
Global eSports Firm “MegaFans” Launches Its First NFT Collection (

#24 Client or fan engagement, (Yesports, Aug-22)

Web3 esports engagement platform Yesports launched a B2B platform-as-a-service for customisable NFT memberships, which provide fans interactions with their favourite team, buying NFTs, and purchasing merch from team marketplaces.
Yesports launches B2B esports NFT membership service – Esports Insider

#25 Expanding business lines or offerings, (Heroez, Sep-22)

Entered into several partnerships with The Sandbox, Polygon Studio and Gamerhash to create community around esports and to support them in this project.
Shaping Web3 E-sport with Heroez –

#26 Expanding business lines or offerings, (Catheon Gaming, Oct-22)

Developed SolChicks, a game based on the Solana blockchain’s play-and-earn RPG ecosystem, in which players use cute chicks as their characters in an immersive gaming metaverse.
Much-anticipated NFT game to launch in closed beta — how you can get involved (

#27 Expanding business lines or offerings, (PUBG Studios, Jan-23)

Partnered with Banger Games, to launch an Alpha NFT Test. Banger Games aims to provide a gaming hub that offers players ownership, income and self-expression, which will enable popular games to integrate NFTs into their platform.

#28 Expanding business lines or offerings, (NBA Top Shot, Feb-23)

Announced to launch applications for fans to engage through mobile devices, as the platform receives up to 75% of traffic via mobile web, according to Jennifer Van Dijk, SVP of Sports Partnerships at Dapper Labs, the creator of Flow Blockchain and parent platform of NBA Top Shot, NFL All Day, and UFC Strike.

#29 Client or brand engagement, (English Premier League, Feb-23)

Signed a multi-year deal with Sorare, a Paris-based $4.3bn NFT Gaming startup, which will be able to purchase and use official Premier League-licensed NFTs.

#30 Expanding business lines or offerings, (Sony, Mar-23)

Filed for a new patent that will allow PlayStation gamers to trade NFTs across different platforms, including games and consoles.

#31 Expanding business lines or offerings, (Square Enix, Apr-23)

Partnered with Elixir Games Launcher to bring Web2 gamers into the Web3 domain. Square Enix announced Symbiogenesis NFT game and released Final Fantasy 7 NFT cards last month.


#32 Fundraising for social cause, (Hope for Haiti, Oct-21)

Hope for Haiti, in partnership with FXG, launched their joint NFT auction and Virtual Reality Experience to raise money ($50k) for victims of an earthquake in Haiti.

#33 Fundraising for social cause, (UNICEF, Dec-21)

Partnered with Snowcrash Labs and data visualization scientist and artist Nadieh Bremer to launch a collection of 1,000 data-driven NFT’s based on Ethereum blockchain, the UN’s largest-ever NFT collection to date, to mark its 75th anniversary and to raise funds for the promotion of internet access for students in schools around the world.

#34 Fundraising for social cause, (Kia, Feb-22)

Changed the face of its Super Bowl ad, Robo Dog, into an NFT to raise money for The Petfinder Foundation, a non-profit organization that gives grants to animal shelters and rescues.

#35 Fundraising, (Julian Assange, Feb-22)

Wikileaks founder Julian Assange and anonymous artist Pak raised $54m+ with their NFT collection called “Censored”, and the profits from the sale will be used to cover Assange’s legal costs who is fighting against imminent extradition to the US from London.
Fundraising with Art: Julian Assange & Ross Ulbricht –

#36 Fundraising for social cause, (MAC Cosmetics, Apr-22)

MAC Cosmetics partnered with Keith Haring Foundation to create and sell collectible NFTs to raise funds to support organizations in the fight against HIV/AIDS.

#37 Fundraising, (Kia, Nov-22)

Collaborated with NBA to launch “Legends Of The Driveway” NFT, celebrating 16 years of Kia’s close partnership with the NBA, and acting as a fundraiser for the national non-profit organization MobilizeGreen.
Kia America and NBA Launch “Legends Of The Driveway” NFTs (

#38 Fundraising, (Michael Phelps / Sports Illustrated, Dec-22)

Swimming legend Michael Phelps was immortalized as an NFT on the latest edition of Sports Illustrated SI Covers. The NFT project spreads across four tiers – Green Tier NFTs are still images, whereas the Gold, Platinum, and Diamond Tier NFTs are digital collectibles that contain animation.
Michael Phelps x Sports Illustrated Drop NFTs For Mental Health (

#39 Fundraising for social cause, (Cadbury, Feb-23)

Cadbury Gems unveiled artwork-based NFTs for charitable purposes. Every time an NFTs is re-sold, a portion of the proceeds is donated to Save the Children organisation.

About the Author

 Gaya Chandrasekaran

Gaya works in the Global Digital Solutions Group (DSG) within Santander Corporate & Investment Banking (SCIB), which focusses on developing innovative, sustainable and profitable digital capabilities and providing state of the art advisory services to clients. 

She joined Santander in 2014 gaining broad experience across Corporates & FIG in SCIB and has also worked on several strategic initiatives including regulatory deliverables. Her work involved deal structuring, due diligence and portfolio management. During this period, she has won awards and nominations to Accelerating You Programme for Future Leaders and Global Risk Leadership Programme.

Gaya recently completed the Fintech Programme from Oxford University. She holds a Masters in Finance from London Business School (Recipient of Graduating Student Award) and an MBA (Gold Medallist) from India.

She has contributed actively to alumni engagement at LBS since graduation through several leadership positions, most recently as an ExCo Member of London Alumni Club where she led events on identifying fintech winners, cyber risk, sustainability & factor investing involving C-suite speakers, industry experts and faculty. 

Gaya is a Mentor and the Head of Personal Excellence Programme (PEP) for London with Women in Banking & Finance (WIBF). She is passionate about supporting women in their ambitions and enjoys organizing knowledge-sharing networking events.

Outside her day job, Gaya is a self-taught artist and has been influenced by art right from her early childhood. She loves learning new techniques and underwent training in India as well as in the UK (Slade School of Art). Her choice of themes are inspired by key life moments. An expression of her thoughts and emotions, her artworks invite the audience to go deep within, explore and connect with their own experiences. 

Gaya offers NFTs in lieu of a Certificate of Authenticity to all her collectors – its her mission to facilitate digitisation to her audience. Based on feedback from a renowned NFT Collector she is now exploring software tools to mint NFTs of pure digital artworks. 

Gaya’s first solo exhibition was in 2018 at Santander’s London office, a fundraiser where she sold >70% of artworks donating 50% of proceeds to charity. Her painting, ‘The Golden Lion’ won a special commendation in the David Shepherd Wildlife Foundation’s #sketchforsimba competition in 2019. 

She conceptualised the first ever Art Exhibition within the LBS community, which led to LBS Art Week in 2021 where her paintings were selected for the online exhibition and she was a chosen speaker of the Artists Panel. She exhibited her artworks with The Holy Art Gallery and The Boomer Gallery in London during 2022. Her artworks are published in the Artist Talk Magazine Issue 22 & 23. 

“Please note the opinions expressed within the content above are solely the author’s and do not reflect the opinions and beliefs of people, institutions, or organisations that the owner may or may not be associated with in a professional or personal capacity.”

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