Extensibility. That's a word I've been hearing more and more lately, and I'm sure we'll soon be hearing seemingly all the time in the not too distant future.
Unfortunately it isn't the easiest term in the world to intuit.
Thankfully though crypto has Bryan Flynn, an awesomely clear thinker on all things NFTs, who has in a recent article provided what I think is the best example that clarifies what token extensibility actually is: Access.
"If users obtain a token in their wallet, they can unlock new features or tokens in other dApps. Tokens which were once worth nothing, now are worth the equivalent of whatever feature/token it unlocks."
For example, say you have a CryptoKitty. And say I have a dApp that is looking to attract a bunch of crypto-familiars. Since every CryptoKitty owner is a crypto-familiar, and since ownership is provable, I can provide something of value just for CryptoKitty owners who sign up to my dApp using the ETH address that their CryptoKitty is tied to. That token can then be used as an avatar. And it can be tied to all the work/actions they carry out on the dApp. But they can use it on other dApps too.
We live in amazing times. And things keep getting better and better.
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