When it comes to NFT, many of us think of extraordinary pictures and high sales figures. The most expensive NFTs are often posted, especially through social media and news sites. In addition, the sale of his soul by a Dutch young man with NFT has been on the agenda recently. However, NFT usage areas are not so limited. NFTs are an indispensable concept for many and will continue to be more effective in the coming years.
Binance, the world’s largest exchange, is a good option to follow the NFT and crypto market. Moreover, you can benefit from very low commission rates for buying/selling NFT or crypto money.
The Most Popular NFT Uses!
NFT increased its effectiveness in 2017 and managed to reach everyone, especially in 2021. Many people, young and old, now know a few details about NFT. Especially the high numbers in NFT sales attracted the attention of many of us directly.
It is expected that NFTs will continue to exist in countless fields, from finance to education, from business life to social life, today and especially in the coming years. Let’s take a look at the most popular NFT usage areas and details!
Art NFTs, known as crypto art or NFT art, are the most common use case. For example, when NFT is mentioned, many of us think of extraordinary pictures. Here, these digital paintings are NFTs of art. NFT indicates ownership and originality of artworks. Thanks to blockchain-based systems, artists can declare that the work belongs to them and sell it for profit.
The new owner changes after the artist sells his NFT work. So what does this do? For example, let’s say you paint a very beautiful painting through photography programs. When this picture begins to spread on the Internet, it is quite difficult to indicate its ownership. Because everyone can express their own picture. This is where blockchain-based digital certificates come into play.
Art NFTs can be sold, increased or decreased in value. At the same time, when the artist sells one of his works, he continues to receive royalties from other sales, thus gaining passive income. For example, the artist named Pak, who sold the most expensive NFT with 93 million dollars, broke a record with his art NFT.
Among the most common NFT usage areas is the gaming category. NFT games allow you to produce valuable NFTs by improving your character, plot or cards. These NFTs can work out of the box or allow you to develop your own, depending on the category of the game.
Users playing the NFT game can sell, rent, trade their earned NFTs and even resort to staking. Moreover, there are smart contracts that protect players. At the same time, gaming NFTs have allowed many to earn high-level earnings. These games generally have a play-win principle.
In the list of the most popular NFT usage areas, it is necessary to mention the collection NFTs. Collection NFTs came into the spotlight when the Twitter CEO turned his first tweet into an NFT and sold it. Later, he experienced a rapid rise with the collectibles of the ethereum-based virtual game called CryptoKitties. However, the most popular NFT collection gained an important place with NBA Top Shot cards.
Collectible NFTs may include an artist’s private collection or may consist of cards from a real brand or organization. These special rare items can make a good choice for NFT investors.
One of the common usage areas of NFTs is the real estate sector. NFT technology is needed to determine the ownership of your digital real estate or land. On the other hand, it is foreseen that NFTs will be needed more with the start of the land lease option in the future.
One of the NFT usage areas in the real estate sector is to make a secure transaction with intermediaries. Just like in real life, when you want to buy a real estate in the digital universe, you may come across multiple intermediaries. NFT allows you to do a safe and fast transaction in these areas.
Another category that stands out as the most common NFT usage is finance and credit. Investors get the chance to earn passive income with NFT. Moreover, it is thought that NFT loans will become widespread in the near future. Today, the most common use among finance NFTs is to stake NFT.
License, Certificate and Documents
You must have heard that NFT indicates ownership. At this point, NFT’s certificates, licenses, etc. It can also be used for documents. It is envisaged that NFTs will be used in a wide range of fields from birth certificates to education certificates, from diplomas to identity cards. Although it is early for this system, it is expected that it will become widespread in the coming period.
Thanks to the verification of documents with NFT, identity theft, forged document issuance etc. crime is thought to be prevented. In addition, processes that burden the system or the person, such as registration or document verification, will also become much easier. For example, the adoption process for NFT-based digital vaccination documents had begun in San Marino.
One of the most common areas for the use of NFT is the music industry. Although the use of NFT in the music industry is still a new application, it is expected that both artists and listeners will have many advantages in the future. So how?
It can be very difficult for amateur artists to make money on platforms such as Youtube Music, Spotify or Fizy. NFT-based music applications, on the other hand, bring artists and listeners together without any intermediaries. Although the application has different options, the most popular earning method is copyright.
For example, artists can earn direct income by selling the copyright of their songs. Moreover, a certain percentage of the earnings from each sale of the song is paid to the artist. The most important advantage of this application is to eliminate third-party platforms.
Many companies, from world-famous luxury clothing brands to watch brands, made a rapid entry into the world of NFT. For example, a few months ago, Adidas launched its NFT Into the Metaverse collection, and a few hours later it had earned over 20 million dollars. At the same time, famous brands such as Gucci, Nike and Louis Vuitton made a rapid entry into the world of NFT.
NFT can be used in different areas in the fashion world. For example, while brands sell their digital collections as NFT, they offer users the opportunity to make collections. At the same time, with the NFT codes printed on real clothes, the production, time, originality, etc. of the clothes can be determined. many information can be listed instantly. Widespread use of NFT is also expected for logistics and procurement.
Sports, music, art, travel, museum etc. We buy tickets for almost every activity. However, there may be many problems such as fake tickets or tickets falling into the black market. NFT, on the other hand, provides a good opportunity to question the authenticity of tickets issued for different sports and events.
Accordingly, each ticket will be registered with the NFT, where it is unique and original, and ticket registrations will be open to everyone. Combining NFT and blockchain technology, this system will ensure that fake ticket exchanges are terminated.
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