Thread by @metaversemama

Here's a quick summary of @jeffwilser's @CoinDesk article:

"15 NFT Use Cases That Could Go Mainstream"

(for @scribeDAO)

Original article read time: 18 mins.

Summary: 2 mins.

1) Gaming:

People already buy digital goods in games, but the development takes longer than art and collectibles. This is why we haven’t seen wider adoption yet says @dfinzer, CEO of @opensea.

@AxieInfinity is just the beginning of a larger gaming boom.

2) Fashion and Wearables:

Fashion brands are coming to the NFT space, and some are already here.

@BoredApeYC teamed up w/ @thehundreds for merch that sold out in hours.

@dolcegabbana sold it’s collection for 5.6 million.

These are just a few examples.

3) DeFi NFT’s:

Say you blow your last $5 mil on a @cryptopunk, and you need to pay rent.

You can now use that punk as collateral for a loan at @NFTfi.

You’ll get the punk back after you pay the debt, and if you default the NFT is transferred to the lender via smart contract.

4) Events & Ticketing:

Let’s say @Drake has an upcoming concert and the ticket is an #NFT:

A) Smart contracts can auto-pay him, the DJ, & other team members a % of sales w/o a 3rd party

B) VIP tix could unlock backstage access/future perks

^ just some of the potential uses

5) NFT Community Platforms:

Where people gather, chat, and flex their NFT’s (wait, this sounds like @Twitter and @discord).

In these communities, holders unlock exclusive access, networking opportunities and other perks from being part of these communities.

6) The Metaverse:

An evolved version of how we’re already hanging out online.

This can be a place to store and display NFT art, a hub for gaming, etc.

7) Virtual land:

“Land. It’s the one thing they can’t make more of.” --Lex Luthor.

This concept may also apply in the metaverse where platforms like @decentraland, and @TheSandboxGame have a hard-capped supply of real estate.

8) Digital identity:

Self-sovereign identity (SSID) has been one of the most intriguing applications of blockchain technology, and NFTs could be the key.

9) Social media and influence:

ie) Quantifying an influencer's engagement, trustworthiness etc., and capturing it as an NFT to display as part of their reputation.

or

ie) On-chain data NFT's like a “Master Trader” NFT rewarded after completing 1000 trades on @Uniswap.

10) Music:

We’re seeing artists experimenting w/ NFT’s to disrupt the industry.

Companies like @LiveNation want to do for concerts what Top Shot did for the @NBA– capturing “moments” as collectibles.

11) Last 4 (Quick Ones):

12) Healthcare: record confidentiality

13) Advertising: selling NFTs for rights to ad slots

14)Fantasy Sports: already in play w/ soccer at @SorareHQ. @NFL next?

15)Search: A decentralized @Google for NFT’s

Thanks for reading this quick summary!

You can read the full article here: bit.ly/3Gqfnv1

Be sure to follow me for more time-saving summaries on NFT news.