The interest in NFTs has continued to increase tremendously, as more people are minting them and collecting them. Some people feel that NFTs are only used in the art and gaming sectors but that is far from reality.
NFTs can be used in different ways like in movies, logistics, books, real estate, and so on. Below are some of the top ways that NFTs are being used at the moment.
This is one of the top NFT use cases. Art NFTs are quite common as people mint their illustration, drawing, painting, and even sculpture as NFTs. People can verify the authenticity and ownership of the art digitally. They can see if it was created by the real artist or not.
The demand for digital collectibles is quite high, especially when it is linked to notable names. For instance, if the NFT collectible is from the NBA or WWE, there is a great chance that it may be valuable. NBA Top Shot, an NFT collectible from NBA was one of the collectibles that drove more people to see the need to mint their collectibles as NFTs.
NFT has become a huge aspect of the gaming scene, especially in play-to-earn games. Most things there are NFTs like avatars, land, skins, weapons, and much more. The level of value played on the game trickles onto the price attached to the NFTs that come from it.
More musicians have seen the need to release songs as NFTs. Different musicians like the King of Leon have released their albums as NFTs. Some do it to reach a larger audience, improve their revenue stream, or raise money for charity.
Real-world asset NFTs
As the NFT space continues to blossom, more people have seen the perks of linking their real-world assets to NFTs as a way of showing that they own them.
People can even sell their property using NFTs as the title deed. This is dependent on the jurisdiction one lives.