Family-friendly NFTs bring the next generation of youth into Web3

Published at: Dec. 15, 2022

Nonfungible tokens (NFTs) continue to be a dominant force within the Web3 space for increasing innovation and adoption. As the space continues to push its way into mainstream adoption will reach new demographics, including minors.

Recently big name entertainment companies such as Disney, which is highly catered to children, have expanded to include crypto-savvy team members and created partnerships with the Polygon blockchain network.

Such developments hint at an impending entrance into the world of Web3, however if Web3 content is to be created for minors big questions arise such as how does an NFT become kid-friendly? Or, how does true ownership work when minors are involved?

Cointelegraph spoke with Jeremy Fisher, artist and founder of Lucky Ducky, a family friendly NFT collection on how to create Web3 content for kids and bring them into the next generation of digital interactions.

While there have been cases of NFTs being used and even created by children, like the 9-year old girl who fell in love with cats and made a cat NFT collection, Fisher believes at a young age parents are still the ones who should be considering what projects to support.

It is “just like supporting your favorite production studio in the early days,” he says.

“We think buying and trading should be handled by adults. Once the collection is created and funded there are many products that can spin off from the concept.

Fisher says the Lucky Ducky NFT characters are all characters from a new family friendly animation series also in the works. He says for children, popular kids shows are excellent ways to introduce Web3 concepts and “shine a spotlight on the existing IP and NFTs."

However, as the Web3 space is still in its “wild west” phase, Fisher says NFTs and many Web3 activities catered towards minors should still be heavily overseen by parents.

“It’s advisable for parents to be in control of anything kids are interacting with involving Web3,” he says.

Though as the technology becomes more pervasive he anticipates Web3 tools and features to be “running in the background of games and collectables to facilitate trading,” with built in protections and parental controls.

Nonetheless, as NFTs are great tools for general mass adoption and teaching newcomers about the space, the same applies to younger generations.

“NFTs are a really great tool to teach about investing like how a pretend stock trading game teaches how the stock market works.”

Fisher harked back to the days of receiving a savings bond from parents or family members.

“We could see that same use case play out where adults set up a wallet for the child with some NFTs to hold onto and then give them when they’re older and see how some of their favorite projects have accrued value.”

Not only would these digital assets inform young users how to interact with digital reality, the education from NFTs can be endless. Already there are Bitcoin (BTC)-themed games and educational tools, including bedtime stories, geared towards children to inform them about the usage of the cryptocurrency.