The technology of NFTs has been most commonly associated with sales of art, but the possible applications of the technology are far broader and have yet to be utilised. CD Corp Limited, based in Aberdeen, is an example of a company that seeks to use the technology in more innovative ways.

CD Corp was the first business in Scotland to directly correlate NFTs with rare Scotch whiskey sets and sell them online for blockchain based cryptocurrencies. Previously trading under the name CryptoDramz, the level of interest and enquiries the company received for advice on blockchain strategy, as well as NFT consultancy services, resulted in them rebranding to CD Corp.

Ryan Aitken, founder, first approached Business Gateway on behalf of his team for advice to get their business started in March 2021. Through the expertise and guidance of the Business Gateway team, the business directors revised their funding strategy and discovered the potential to self-fund the business which enabled them to move forwards at pace with 100% ownership free of debt.

Mr Aitken said: “Working with Business Gateway early on in our journey helped us realise we didn’t have to rely on other sources for funding. Their clear direction and advice encouraged us to seize the opportunity in front of us and pursue our consultancy-based business model. This decision will aid us in achieving our growth milestones faster than previously expected.”

CD Corp worked closely with their dedicated Business Gateway adviser, who has acted as a mentor to the young team. As part of Business Gateway’s growth service, Ryan received a workshop on elevator pitching and sales, as well as accessing support webinars on business strategy.

Mr Aitken said: “A variety of industries have welcomed our expertise when it comes to NFTs, and as a result, we can now offer a unique service to businesses looking to enter this fast-growing sub-sector of the blockchain economy.”

Joseph McGraw, CD Corp’s digital design director, said: “Our experience with the Business Gateway services has been brilliant. Our adviser, Gordon, has supported us every step of the way, and now that we have fully diversified into officially offering consultancy services, we are in a strong position to continue growing our business exponentially in 2022 and beyond.”

Gordon Mackay, Business Gateway adviser, said: “Ryan’s passion for technology and an innovative economy is inspiring. We were able to support and guide CD Corp from its conception through a range of Business Gateway’s Growth Business Services, which have been key to the acceleration of the business. It is rewarding to see how CD Corp has capitalised on opportunities provided by digital technologies.”