NFTs are blowing up, and I believe what we have seen is only just the beginning.
These unique digital tokens have a wide range of use cases, but there are a lot of big things people aren’t talking about...
I’ll list some food for thought below... 🥐
These unique digital tokens have a wide range of use cases, but there are a lot of big things people aren’t talking about...
I’ll list some food for thought below... 🥐
Digital Art
One of the most popular examples of NFTs is digital art
Any creation can be tokenized by creators with NFTs, integrating & building a new level of connection between communities
These are configurable with many different programmable parameters on smart contracts
One of the most popular examples of NFTs is digital art
Any creation can be tokenized by creators with NFTs, integrating & building a new level of connection between communities
These are configurable with many different programmable parameters on smart contracts
Tickets
This topic has big use cases for $ETH as a whole
Tickets can easily be made for events, with benefits exceeding that of current systems
For example, the Dallas Mavericks have discussed using NFTs as tickets to collect more revenue from royalties
This topic has big use cases for $ETH as a whole
Tickets can easily be made for events, with benefits exceeding that of current systems
For example, the Dallas Mavericks have discussed using NFTs as tickets to collect more revenue from royalties
Jewelry
As soon as a diamond leaves the Jewelry store, it loses nearly half of its value
This is largely because they aren’t a very liquid asset, & don’t have any form of verifiable authenticity even slightly comparable to NFTs
The applications of NFTs here are obvious...
As soon as a diamond leaves the Jewelry store, it loses nearly half of its value
This is largely because they aren’t a very liquid asset, & don’t have any form of verifiable authenticity even slightly comparable to NFTs
The applications of NFTs here are obvious...
Sports
NFTs in sports have grown significantly thanks to the creation of projects like NBA Top Shot and Chiliz
NBA Top Shot allows for fans to trade and own officially-licensed video highlights
Chiliz takes it a step further with some tokens offering exclusive content for fans
NFTs in sports have grown significantly thanks to the creation of projects like NBA Top Shot and Chiliz
NBA Top Shot allows for fans to trade and own officially-licensed video highlights
Chiliz takes it a step further with some tokens offering exclusive content for fans
Creator Tokens
Any creator can make independent economies with unique control over their interactions and experiences with users
Content creators are usually subject to standards maintained by a 3rd party who take a portion of earnings, making these tokens even more attractive
Any creator can make independent economies with unique control over their interactions and experiences with users
Content creators are usually subject to standards maintained by a 3rd party who take a portion of earnings, making these tokens even more attractive
ENS
The Ethereum Name Service uses NFTs in a way that is similar to the way website domains work
They can be registered, sold, or used to prove unique domain rights to a given .eth name
Additionally, you can receive $ETH to your ENS (i.e nft.eth) instead of a wallet address
The Ethereum Name Service uses NFTs in a way that is similar to the way website domains work
They can be registered, sold, or used to prove unique domain rights to a given .eth name
Additionally, you can receive $ETH to your ENS (i.e nft.eth) instead of a wallet address
Licenses
NFTs can be created to digitally represent agreements between two parties
The content represented on the NFT can then be commercialized on the wider market by the owner of the token
This allows for an unmatched level of freedom & value for the new type of asset class
NFTs can be created to digitally represent agreements between two parties
The content represented on the NFT can then be commercialized on the wider market by the owner of the token
This allows for an unmatched level of freedom & value for the new type of asset class
Real Estate
NFTs appear to be a great solution for real estate
Real estate is often limited to only those who can afford such investments, & there is a lack of liquidity
However, NFTs could introduce fractionalized tokens, changing everything for the market as we know it today
NFTs appear to be a great solution for real estate
Real estate is often limited to only those who can afford such investments, & there is a lack of liquidity
However, NFTs could introduce fractionalized tokens, changing everything for the market as we know it today
Digital Real Estate
Digital land, unlimited by physical space like land today, can be tokenized and used to build entire economies that are owned by the players
When VR technology becomes more popular, virtual land could eventually evolve to a trillion dollar marketplace
Digital land, unlimited by physical space like land today, can be tokenized and used to build entire economies that are owned by the players
When VR technology becomes more popular, virtual land could eventually evolve to a trillion dollar marketplace
Music
A problem all too common within the music industry is record labels and larger corporations taking up all of artists profits
NFTs offer a direct platform for creators to sell their work directly to their fans, while making it a whole lot more profitable!
A problem all too common within the music industry is record labels and larger corporations taking up all of artists profits
NFTs offer a direct platform for creators to sell their work directly to their fans, while making it a whole lot more profitable!
Gaming/Esports
This is a use case I think we will begin to see more of in a matter of weeks
$GME appears to be working on an NFT platform that is integrated with games
Social tokens, in-game currencies, in-game items, donations, & more are likely to be represented here as NFTs
This is a use case I think we will begin to see more of in a matter of weeks
$GME appears to be working on an NFT platform that is integrated with games
Social tokens, in-game currencies, in-game items, donations, & more are likely to be represented here as NFTs
Supply Chain
There is a ton of friction in the supply chain industry due to some difficulties in accounting
Utilizing NFTs, suppliers can easily monitor their inventory levels, avoid third party fees, reduce errors in data optimization, & spot mistakes in order forms!
There is a ton of friction in the supply chain industry due to some difficulties in accounting
Utilizing NFTs, suppliers can easily monitor their inventory levels, avoid third party fees, reduce errors in data optimization, & spot mistakes in order forms!
Metaverse
NFTs on $ETH will power a universe beyond our own
This will be propelled by virtual reality technology created by some of the largest companies in the world
We’re talking about matters of augmented reality, virtual ad space, tokenized in-app purchases, & much more...
NFTs on $ETH will power a universe beyond our own
This will be propelled by virtual reality technology created by some of the largest companies in the world
We’re talking about matters of augmented reality, virtual ad space, tokenized in-app purchases, & much more...
Memberships
NFTs can even monetize access while avoiding third party apps
Just define the amount, duration, & price of your content, & you can integrate an NFT that works on any website!
The content can only be viewed when one is connected with an $ETH wallet holding the NFT
NFTs can even monetize access while avoiding third party apps
Just define the amount, duration, & price of your content, & you can integrate an NFT that works on any website!
The content can only be viewed when one is connected with an $ETH wallet holding the NFT
Intellectual Property
Intellectual property, much like open source development, had previously been hard to sustain because it was intangible
With NFTs, we are given verification & digital representation to this entire asset class that was not possible before
Intellectual property, much like open source development, had previously been hard to sustain because it was intangible
With NFTs, we are given verification & digital representation to this entire asset class that was not possible before
Decentralized Identity
NFTs have great potential for verifiable and probable scarcity on a public ledger
When combined with decentralized identity protocols, the authenticity of NFTs will be indisputable
This will also make the general public feel a lot more secure using them
NFTs have great potential for verifiable and probable scarcity on a public ledger
When combined with decentralized identity protocols, the authenticity of NFTs will be indisputable
This will also make the general public feel a lot more secure using them
Exclusive Content
NFTs are almost like a giant platform of an evolved Patreon, but without the middleman
They connect communities with each other better than ever before, and this is evident in their insane growth
Truly exclusive content tools are at the tip of creators’ hands
NFTs are almost like a giant platform of an evolved Patreon, but without the middleman
They connect communities with each other better than ever before, and this is evident in their insane growth
Truly exclusive content tools are at the tip of creators’ hands
Fractional Ownership
Similar to the fractionalized real estate ownership concept mentioned earlier, NFTs can be created to represent a handful of different assets.
This opens up investment opportunities that were almost unimaginable for the vast majority of people
Similar to the fractionalized real estate ownership concept mentioned earlier, NFTs can be created to represent a handful of different assets.
This opens up investment opportunities that were almost unimaginable for the vast majority of people
Disintermediation
A common pattern seen in the largest companies existing today is their unique ability to connect consumers with creators more directly
This increases many things for profits, interactions, and general user experience
A common pattern seen in the largest companies existing today is their unique ability to connect consumers with creators more directly
This increases many things for profits, interactions, and general user experience
https://twitter.com/CroissantEth/status/1411071148843061253
Patents
The field of patents, maintained by records at patent offices, are limited in many ways
You can’t have fractional ownership of, or even publicly trade patents
Quite obviously, NFTs could play a large role here in what would be a greater ledger of decentralized records
The field of patents, maintained by records at patent offices, are limited in many ways
You can’t have fractional ownership of, or even publicly trade patents
Quite obviously, NFTs could play a large role here in what would be a greater ledger of decentralized records
Tokenization
Anything that can be represented as a stream of value can be turned into instantly transact-able assets easily with NFTs
They will not only create entirely new asset classes, but also entirely new creator economies
The extent to which this can be used is unlimited
Anything that can be represented as a stream of value can be turned into instantly transact-able assets easily with NFTs
They will not only create entirely new asset classes, but also entirely new creator economies
The extent to which this can be used is unlimited
Royalties
NFTs have programmable parameters at fullest advantage to users
Lots of companies miss out on a large portion of secondary sales made by scalpers
However, if these items (such as tickets, games, or shares) were NFTs, they could capture fees from secondary markets
NFTs have programmable parameters at fullest advantage to users
Lots of companies miss out on a large portion of secondary sales made by scalpers
However, if these items (such as tickets, games, or shares) were NFTs, they could capture fees from secondary markets
Marriage (yes, seriously)
Coinbase employees chose to get married not in the traditional way, but instead on $ETH with use of NFTs
This example is obviously a bit speculative, but I included it to show just how much they can be used for
Marriage NFT:
etherscan.io/token/0x961cf9…
Coinbase employees chose to get married not in the traditional way, but instead on $ETH with use of NFTs
This example is obviously a bit speculative, but I included it to show just how much they can be used for
Marriage NFT:
etherscan.io/token/0x961cf9…
https://twitter.com/rgoldilox/status/1378014362896461839
All these use cases of NFTs are the primary reasons why I believe we may never get another shot at a form of digital authenticity like this again
We are watching the transition to the Web3 economy, owned by the users
TLDR? NFTs are far more than just digital art. Enjoy! 🥐
We are watching the transition to the Web3 economy, owned by the users
TLDR? NFTs are far more than just digital art. Enjoy! 🥐
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