NFTs are more than memes, pixel pics and twits. At the moment they are widely used in different areas and you should know what advantages NFTs have.
However, 2022 is a year of NFTs dubious reputation cause humanity realized that digitalized cartoons and pieces of art can be sold for millions of US dollars due to hype with zero value.
So how NFT are used besides memes with cats and apes?
Physical tickets are vulnerable to fake while NFT is unique and encrypted on a blockchain. Also, organizers set different levels to NFT tickets with extra values such as a drink, top seats, access to all events they hold, merch, and so on.
Interaction with visitors became easier as organizers create DAO and involve more people providing them with different benefits such as sharing income.
Series creators enhanced and engagement level by offering the audience an opportunity to decide how an episode can unfold. The audience only needs to purchase NFTs and get access to voting. NFTs have several types of ranks so votes’ values are not similar.
Launchpads and IDOs sell tokens and shares of crypto projects for compelling prices. The offer is always limited and to participate users need to subscribe first on the sale. So the platforms provide NFT allocations. Users can purchase one of the several NFT types that allows them to purchase attached to the NFT number of tokens. This NFT is valued by some idea or rarity so in the future users can sell this NFT and profit.
NFTs allow startups to create digital representations of commodities and explore new models of raising capital through a frictionless system. The structure and transparency of blockchains make it relatively easy for any entity to stay inside a regulatory framework once those frameworks are fully locked down. In fact, everything from debt management processes to the provenance of goods can be streamlined and verified using NFTs.
🔶 Real-world assets
In addition to ownership of virtual assets, NFTs can also be used to establish ownership of real-world assets through the creation of a digital representation of a real-world object. Thus, NFTs can act as an intermediary linking property rights in the virtual and real worlds, and this will then allow for the seamless trading of real-world assets in virtual environments.
🟪 NFTs are becoming an integral part of reality and already have various applications that can affect you.
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