NFTs in South America

NFTs are steadily becoming mainstream in South America. We are seeing a number of entities getting actively involved in this space. This tech trend is disrupting nearly all sectors, with players coming up with new way to solve existing challenges through the use of NFTs.

A look at some of the Leading Companies in the NFT space.

A platform that seeks to address the problem of NFT inaccessibility for South American individuals is called Lemon. Currently, it has over One million users in both Argentina and Brazil. The company CEO said that they launched it with the aim of making it easy for individuals to own NFTs. So far, the company has already issued over 400,000 NFTs to their users. These NFTs are unique and randomly generated. They can’t be traded at the moment, but it is hoped that this will be made possible in the near future.

Enigma.art is another platform whose main objective is to offer NFTs that connects local artists to their fan base via non-fungible cards. The platform also enables artists to create items and sell to their fan base. It also includes music NFTs and allows users to have fractional ownership-breaking one NFT into multiple pieces. Some of the biggest talents in the country have accounts in this platforms. These include artists such as Marta Minujin and Bizarrap.

The travel industry also seems to face disruption from NFTs. TravelX, a tech startup, is offering low cost flying tickets for local airlines but selling them as NFTs. The company is working with a local Argentinian airline called Flybondi. Travel X acts as platform where you can purchase Flybondi tickets. Once you purchase these tickets, they are tokenized and converted into Non Fungible tokens. There are over 2.5 million tickets that are currently sold on this platform. Once a client purchase a ticket, they can decide to sell, auction or exchange them. TravelX hopes to work with over 60 airlines in the region in the next one year.

Non-governmental bodies have also adopted the use of NFTs. One project that is at the vanguard of NFT development is called Little Steps- an NGO that works with and helps vulnerable families in Argentina. It recently launched NFT art designed by children that have been integrated into their programs.

With increased Web 3.0 adoption, we are bound to see even more companies delving in this space. The financial and political situation in the South American region may also serve as stimuli and encourage the citizenry to seek financial refuge in blockchain and more specifically in crypto and NFTs,