Ever wondered what an NFT really is? So here you go — NFT simply means Nọn Fungible Token, NFTs are tokens that we can use to represent ownership of unique items. They let us tokenise things like art, collectibles, even real estate. They can only have one official owner at a time and they’re secured on the blockchain — no one can modify the record of ownership or copy/paste a new NFT into existence. NFTs makes no sense if the usecases are not carefully explained.
Check out this 10 Use Cases attached to some NFTs
- Metaverse — Yes, on the metaverse you need a digital version of you, and only NFT can offer this utility with ease. Since everything on the metaverse is digital, you also need digital wearables to stand out on the meta world.
- Tickets — The future of digital ticket seem too bright, which will make paper tickets disappear faster than we can imagine. With your NFT ticket which proofs validity/ownership, it will be easier to check on the blockchain.
- Real Estate — It’s already happening, platforms like sandbox and decentraland have already positioned themselves on Web 3 real estate business. With your proof of ownership as a land owner, no entity can steal, force claim or damage your digital property because it’s secured on the blockchain.
- Medical History — This is one of my favourite use cases for NFTs. With a NFT ledger, medical history of a body be can stored making it more accurate and less complex to trace.
- Private Membership — Some NFT can give access to exceptional experiences with celebrities and people you like or admire, sail on a special boat cruise and have a luxury dinner with celebrities, top traders, influencer all over the world.
- School/Education/Degrees — Paper certification may disappear in the future if the NFT buzz doesn’t slow down. With NFT record keeping, a student achievement can be saved after each successful upgrade or completion of study on the blockchain. This will make it easier to check students records from anywhere in the world because it’s secured and existing on the blockchain.
- Art — Over the years, traditional artists have suffered from bad sales, theft, copyright etc. But since NFT adoption came into the art sector, it has been a win win situation for the artists. Art are digitalised, it’s easy to monitor previous history of the art.
- Fashion — Big brands are coming into Web3 with an idea of showcasing their brand and display their style on the metaverse. With NFT/Metaverse fashion, it would be easier to have a feel or clearer view of wearables. Also, it’s more unique because you can boast of wearing your collection to top locations and places in the world and have in recorded on the blockchain.
- Music — Some artists have already grabbed this new technology to interact with their fans, finding new ways to monetize their music business using NFTs, and associating them with some particular activities like listening parties, private meet and greet or unique moments.
10. Game — Game developer also saw the important of NFT, when playing games, you pick up items which can be traded or moved into any another platform entirely to play game with the NFT gotten or bought from the previous games.
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