NFT, short for non-fungible token, has become an elusive buzzword in the midst of the rising world of the metaverse, blockchain, and all things considered “web3.” Tim Nielsen and his company Cloutchain want to make NFTs accessible for everyone by creating a platform for both fans and creators to engage using NFTs to drive the connection. Nielsen is growing his company in the Master of Business Creation (MBC) program at the University of Utah’s David Eccles School of Business.
“We didn’t design Cloutchain around one specific type of creator. We really wanted this to be accessible to bring this really cool technology that we saw potential in to as many people as possible,” said Nielsen on who he sees using this platform.
On the Cloutchain platform, creators can easily design cards, which are backed by NFTs that are unique to each creator, memorializing important achievements, moments, art pieces and more. Fans can then purchase these cards, unlocking access to content both online and in-person. Cloutchain allows creators to gain more control over the business aspect of their image, content, and career and allows fans to more easily connect with their favorite creators, musicians, and athletes.
Nielsen started this company due to his personal experience and interest in economics, finance, and blockchain. He wanted to start a business that would make this emerging technology accessible and interesting to everyone. Right now, the world of NFTs can be an “insiders club” where newcomers can easily be taken advantage of, and in many cases, there exists a lack of genuine community engagement. Cloutchain provides an easy-to-use fan engagement platform where creators and fans alike need no technical knowledge to successfully enter the world of NFTs.
Find this article and a lot more in the 2022 “Student Innovation @ the U” report. The publication is presented by the Lassonde Entrepreneur Institute to celebrate student innovators, change-makers, and entrepreneurs.