For sometime I have had an Idea for how to use NFTs as tools for governance based on how Darwinia Ring and Darwinia Crab use the KTON and cKTON tokens respectively to encourage long term staking and as well create two tiers of staking and incentives as those who retake their KTON/cKTON .
Refer to the Darwinia Staking model here: 「Using Darwinia Tools 3–9」: Darwinia Apps Guide Part Ⅱ: Staking and Earning | by Darwinia | DARWINIA NETWORK | Medium
Ultimately I’m not encouraging an outright copy of the staking concepts but definetly using it as an inspiration of how this type of dual staking could be used for governance via a DAO controlled by NFT holders who are staking NFTs for a DAO position and staking WELL tokens to be able to vote.
The DAO could also act as a fund and all assets added could be used in Defi as well to incentivize and encourage people to stay engaged. One if the main issues with DAOs is how do you incentivize people to be active in it - A Community controlled DEFI fund could be an Option. This could also strengthen the speculative value of the NFT as it would be necessary for all actions within the DAO as well benefiting from holding the NFT via the DAO fund.
There are more possibilities that the NFTs like this could be used for and I hope this at least spurs some conversation about.